The paper reflects the stages and presents the results of a study on social representations of parents about the personal qualities of their preschool- and primary-school-age children as well as their characteristics that will be needed to become successful and happy. The authors identify the correlation between the ideas of parents and their age. The study findings demonstrate that the ideas of modern parents about the personal qualities that are essential for the happy and successful life of their children vary slightly according to the particular child’s age and do not depend on the parents’ age. Preschoolers’ parents regard such qualities as activity, curiosity, and kindness as common to children while parents of primary school students note intelligence and stubbornness in addition to the above-mentioned qualities. Parents of the younger (up to 33–35 years old) and older age groups (after 33–35 years old) have different ideas about the qualities under review. The first group emphasizes self-confidence, and the second one focuses on sociability as a quality children need to be happy. There are slightly different ideas about the qualities required for success: young parents consider persistence to be the key to success, and the parents of the older age group highlight hard work.