Wealthy parents in the US worry about Gen Z children’s careers — Fortune
Wealthy American families are increasingly concerned about whether their Generation Z children will be able to find and keep jobs amid slower hiring for entry-level positions, tougher competition, and the spread of artificial intelligence. Fortune reports, citing wealth management advisers.
Tom Tighe, managing director of leadership and legacy at Ascent Private Capital Management at U.S. Bank, said this is a very real concern among ultra-wealthy families. According to him, parents are concerned less about their children’s financial security than about the potential impact of the labor market on their sense of purpose, identity, and self-confidence.
Concerns about children’s independence
Financial adviser Patrick Dwyer, who works with clients whose wealth ranges from about $100 million to more than $1 billion, told CNBC that his clients see that their children, mostly aged 22 to 35, are finding it harder to obtain and retain positions in fields previously associated with stability and status. He named technology, law, and healthcare among them.
In Dwyer’s view, families have to redefine support for their children, including taking into account the need for retraining in adulthood. He noted that without opportunities to independently accumulate wealth, children may have less control over their own lives than their parents did.
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Inheritance and support planning
Tighe does not advise wealthy parents simply to provide their children with funds for an indefinite period. Instead, he recommends combining inheritance planning, investments, and long-term financial planning with a system of opportunities for development. According to him, it is important to support not only a child’s financial well-being but also their self-esteem.
Trent von Asen, managing partner at Cedar Point Capital Partners, said ultra-wealthy families are more afraid of providing too much support to their children than too little. He noted growing attention to flexible education funding, mentoring, and phased transfers of capital—an approach intended to create opportunities without depriving children of motivation.
The article also notes that some young workers are choosing alternatives to traditional corporate careers: jobs in manufacturing, electrical work, and other technical professions, or content creation. According to Deloitte’s 2025 global survey, only 6% of Generation Z respondents named attaining a corporate leadership position as their main goal.
