It seems that parents have high expectations of how much money their children will earn:
A QUARTER of Australians expect their children to become high-income earners when they grow up, while two-thirds of parents think their kids will be middle-income earners, a new study shows.
According to the survey by Fidelity Worldwide Investment, parents say the key to their children’s future wealth is a good education, financial skills and a hard work ethic.
The researchers surveyed Australia and other Asian and Pacific countries about income expectations for their children. The survey has found 8 per cent of Australian parents say they expect their children to have a low income as adults.
The biggest factors for expecting a low income are a lack of economic opportunities and no “financial benefits” from the family, Fidelity Australian managing director Gerard Doherty says.
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Tags: a lack of economic opportunities, Education, expect children to become high-income earners, financial skills and a hard work ethic, Gerard Doherty, High income, ids will be middle-income earners, Income, income expectations for children, key to their children's future wealth is a good education, Middle income, Money, Money Matters, News, Parenting, survey by Fidelity Worldwide Investment
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