Maybe we are a little off topic, but here is my two cents:
Cabraham has it right, “there is always room at the top”, if you excel at what you do, you will always have a place. This isn’t to say that if you are great at what you do you won’t be laid off, canned for political or some other trivial reason or underappreciated, but it does mean you will have the talent to move on to bigger and better things (where as if you are incompetent, it could be back to the labour pool.)
Is engineering a declining profession that doesn’t get any respect? Absolutely. But do we deserve respect just for being engineers? Absolutely not, respect is something that should be earned, not given with a title, unless the gaining of that title is and of itself a proving ground and more and more professions are abandoning the education as a proving ground. The Engineering program was tougher than the sciences or arts, but it wasn’t like we were going through Harvard Med. I breezed through, as did most of my classmates, some of whom could not think their way out of a phone booth if they had a map. I recently had a conversation with a masters grad in electrical engineering who spent 10 min. trying to explain to me what a FAN was (YUP, the ones that go round-and-round), either he is a moron, or thinks I am a moron, but either way not the most respect inspiring conversation. The Universities are falling to the lowest common denominator accepting, and pushing through, anyone with the tuition and a slight aptitude for math and the whole profession is suffering from it. If we want respect, just for being engineers, then we need to make the program a mandatory masters, (6 years should do) followed by a mandatory internship (much like doctors) and crank up the difficulty and expectations. I know the associations make an attempt at it, but they need to get tougher and start making cuts.
As far as where your kids should go, for 99% of the population work is work (if it was fun, you would volunteer; ), but you should still do what you love. In the absence of loving anything use the algorithm of life selector. Make a list of all the jobs you would be good at, rate them for how much you think you would enjoy them, disregard anything below a 7, and then pick the one that affords you the lifestyle you want (Engineers make more money, but teachers get 2 months off in the summer, plus Christmas and spring break... tough call for me). Then if you find you picked wrong, never be afraid to abandon ship and try again.