According to a new study by the Pew Research Center, only 37 percent of Americans think that kids will grow up to be more financially stable than their parents. Other countries like Russia are a bit more hopeful, where 52 percent of Russians believe that their kids will be better off. More than half of the international respondents in countries with fast growing economies said that they presume that their children will be well off in the future. When we conducted our 2014 State of Parenting poll, we found that 63% of parents believe their children will face more problems growing up than they did.
by Ben Popken
"The U.S. may be one of the richest countries in the world, with one of the highest per capita gross domestic products among major nations, but Americans are fairly pessimistic about economic prospects for their country’s children," said the report.
One of the reasons for the gloom is a growing income gap that tracks with an education gap. The majority of the economic gains in recent years have gone to families with a college education or higher.
Americans with just a high school diploma were less likely to be satisfied with the economy than those with a higher education, according to the Pew data, which saw a 14-percentage point difference between the two groups.