Good stuff here - appreciate the thread. Both Grandparents through the depression, Dad used to collect scrap metal for the Big War, but they built so much wealth out of their desire to be free that the subsequent generations (even my aunts and uncle) are comparatively lazy. Grandpa Charlie had a HS diploma and carried water to the schoolhouse where he met Grandma (she was the teacher); 2 of his 3 kids have PhDs, most of the grandkids have a Masters, and the great grandkids are starting to hit college this year. But with all that education, my house is the only one with any skill in the things that Grandpa had to do each day in the home he grew up in, and nowhere near the proficiency. I admire their hard work and sacrifice for their families, but in some ways I feel cheated that they did not teach me all the things they knew that I have to relearn.
I've been debt free 17 years now, except for a mortgage for a few years - I'm 42. I don't know anyone my age in my profession that is debt free. If they went to college, they have on average $40K in student loans; if they didn't, they have on average $40K in personal loans ... really nice cars, phones and toys to show for it. Somebody somewhere taught them that they deserved to have everything NOW instead of working hard and paying cash LATER. I'm sensing a trend ... we don't want our kids to "suffer" like us. Why the heck not? Seriously, was there no value in the lessons learned associated with hard work and deprivation? Seems like those lessons are the things that will get people through the next dust bowl event.