JonLaw,

Someone with a substantial income and a propensity for saving may accrue wealth over time, but they are unlikely to become rich. (statistically)

If you don't have a net worth of almost a million dollars (minus liabilities), you aren't even in the top 10% of Americans, and after a comfortable retirement, there will be little left to secure your children's future. This is why most Upper Middle Class parents (even those who breach the 10% mark) are trying to ensure their children's future through academic achievement.

Now, I would guess that even those parents with enough true wealth to pass on their social class to their children still insist on good schools and such because, of course, wealth can be lost and one wants a little insurance for their children, right?