We've had lots of conversations with them about having a healthy perspective of what "success" and "happiness/satisfaction" look like (and that they don't have to look like "wealth" or "lots of stuff"). For example, a few years ago over Xmas break, my daughter and I were having a long chat in our living room. She looked around and said "it just occurred to me that I'm probably living in the most prosperous household that I'll ever live in." I told her that was reasonably likely, but ALSO, there's a whole lot of living between "your parents' big nice house in NW Hills" and "poor and broke." And in that band is a shitload of happiness and living. Shit, her parents grew up in that band, and had great lives.
And honestly, among their generation, I think that view has some traction. Big fancy houses aren't as important to them (yes, it's still important to plenty of them, I'm just saying it's less important overall). Fancy cars aren't as important. Security, being able to afford the basics, and spend time with people you care about, matter more. Which I actually think is healthier.
And for us, there's a cheat code, and it isn't fair: my kids stand to inherit enough (from my dad and from us) to provide them a baseline of security. They could probably acquire a decent/modest home with inherited money, and then not have to pay for housing anymore. What a HUGE leg up that is. But it's cheating, because they are exceptionally lucky. To their credit, they know it (that it's luck). They've been given a lot, and they know it.