In the USA, college graduates have high expectations that they are going to be successful, make it rich, and retire in their 30s. For those that actually do retire in their 30s, I have to wonder what example you give your kids. Hear me out.
In Asia and Latin America, there is a deep respect for elders. One works hard through their life and supports their parents. And you raise your kids hoping that when the time comes they will take care of you. It seems like the biggest difference here is that people work to retire the previous generation, and build on their success through the next generation. With this model, everyone wants the next generation to be as successful or more than the previous.
The American model of striking it rich and then giving your kids an easy life is not a sustainable model. But most entrepreneurs follow this. And this whole generation of middle- and upper- class kids is mentally relaxing, not working to their full potential in part because their pressure to succeed is not as high as in Asia and Latin America. To be more competitive, should something change in America?
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Not to mention, the gap between upper-class and lower-class is drifting, causing the middle class to disappear. Middle-class usually spawned hard-working, honest people, who were very successful... by success I mean, a good family and quality of life unattached from wealth.
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