Will Your Kids Be Able to Live on Less Than $50K a Year?

This article asks if it's possible to live on an average income of $50,000 a year. Considering that wages have been stagnating for years (when you consider inflation) and are now dropping, it's possible our kids will have to live on less than $50,000 annually.

Will your kids be able to do it? Have you taught them to handle money wisely? If not, why not?