*How would you keep them motivated? Would you divide the economic hit equally? S...

How would you keep them motivated? Would you divide the economic hit equally? Start tearing up old rent controlled apartment leases? Lower pensions?

As a parent in such a situation I'd start redistributing my own money to my children before I die.

From a societal point of view the best thing to encourage that would be to get rid of any gift taxes et cetera which might discourage it.