Even the wealthiest parents in America are anxious about their children’s financial futures. Millions of Gen Zers face unemployment as entry-level hiring has slowed, competition has become fiercer, and artificial intelligence takes over tasks that were historically performed by recent graduates.

In a labor market where seemingly no one is immune to the effects of AI on the workforce and an increasingly stiff job environment, ultra-high-net-worth families are now voicing the same concern as middle-class and low-income households: Will my kid be able to get a job and support themself?

The worry tracks measurable changes in the entry-level labor market. A Stanford Digital Economy Lab study published in August 2025 found that employment among workers aged 22 to 25 declined roughly 13% in the occupations most exposed to AI relative to older workers in the same fields—a gap the researchers described as young workers serving as “canaries in the coal mine.” Separately, Federal Reserve Bank of New York data show the unemployment rate for recent college graduates has climbed above the rate for the overall workforce.

“Billionaires have the financial resources to support their children, but they sometimes struggle to determine what else is needed for their children to succeed,” Tom Thiegs, managing director of leadership and legacy at Ascent Private Capital Management with U.S. Bank, told Fortune.

Millionaires and billionaires “are recognizing this is not the same game they had to play,” wealth manager Patrick Dwyer told CNBC earlier this year. “Families have to rethink … what it means to support their children. And we’re not talking about spoiling your kids. We’re talking about: What if your kid needs retraining at 33?”

Dwyer is managing director at Aligned by NewEdge Wealth, a boutique wealth management firm based in Miami, and works with clients whose net worths range from roughly $100 million to more than $1 billion. He said his clients are concerned that their children—typically between the ages of 22 and 35—are struggling to secure and hang on to jobs that are historically associated with security and status, including technology, law, and health care. That means the wealthy will have to plan for a future in which they pass on more of their fortune to their kids.

Those family conversations are unfolding within what analysts widely describe as the largest intergenerational wealth transfer in U.S. history, with industry projections putting the total moving between households at more than $100 trillion through 2048.

“[They’re] realizing that if they don’t pass on more meaningful wealth to their children, or their children are not able to accumulate wealth … their kids could have [less] agency over their lives than they did,” Dwyer told CNBC.

While this may sound like an irrational fear coming from America’s wealthiest families, it is a reality that more wealth managers now recognize.

“This is a very real concern I’m hearing from ultra-affluent families right now,” Thiegs said. “On the surface it can sound irrational: ‘Why would a billionaire worry about their child getting a job?’ But realistically, no matter how much money you have, parents still want their children to succeed and lead fulfilled lives.”

Purpose, not just a paycheck

The job-market jitters Gen Zers face directly affect how their parents can help them plan for their financial futures. Yet the crux of the problem is not that parents fear they will be financially unable to help their children—it is worry that their children will not have the same career outcomes and sense of fulfillment as past generations.

“They’re not usually worried about the financial security of their children; rather they worry that the job market will impact their child’s sense of purpose, identity, and confidence,” Thiegs said. “They also worry that significant wealth will dampen their drive or desire to work.”

That does not mean Thiegs encourages his clients simply to bankroll their kids for the foreseeable future. Instead, estate planning, investing, and other long-term financial planning remain a must.

“When parents are worried about their children’s job security, we recommend creating a system that provides opportunities for growth and development rather than just a financial safety net,” he said, adding that it is more important to implement plans that support a child’s self-worth than just their net worth.

Trent Von Ahsen, a certified financial planner and managing partner at Cedar Point Capital Partners, said his ultra-high-net-worth families similarly view the risks of today’s job market less as a financial stability concern and more as a question of whether they are setting their kids up to be indefinitely dependent on them.

“This cohort of parents seem more concerned about over-supporting their children, than under-supporting them,” Von Ahsen told Fortune.

Gen Z charts a different path

The shift away from historically high-paying, white-collar jobs is already evident in the choices Gen Z is making. Facing mass layoffs in white-collar sectors and anxious about AI, many young workers are peeling away from traditional corporate routes in favor of jobs they believe may offer more control or faster cash—from creator careers to blue-collar jobs in manufacturing, electrical work, and other technical trades.

In some cases, college-educated Gen Zers are even competing for six-figure nanny and tutor roles in elite households, chasing financial “freedom” outside of a traditional office career. A 2025 Deloitte global survey found that just 6% of Gen Z respondents cite reaching a corporate leadership role as a primary goal. Instead, most prioritize work-life balance, personal fulfillment, and learning. The tilt toward the trades shows up beyond anecdotes as well, with enrollment in U.S. vocational and trade programs rising in recent years, according to national enrollment data.

All of this means billionaires and other high-net-worth individuals will have to plan financially in ways that differ from the past, designing plans that “encourage growth and responsibility” instead of only making large inheritances all at once, Von Ahsen said.

“We see more emphasis on education funding flexibility, mentorship, and phased wealth transfers,” he said, describing the approach as “really an attitude moving toward providing opportunity without removing initiative.”

A version of this story was published on Fortune.com on February 11, 2026. This story was originally featured on Fortune.com.