Abstract: Childhood is a period of age preceding "adulthood" and having occurred as a result of cultural and historical factors. The transition from childhood to adulthood is not a one-step process; rather, it is formed stepwise. Among many circumstances which determine an individual vision of childhood, nature of weathering age-related crises and transition to adulthood, it is possible to highlight social and economic family status, individual aspects of upbringing and social adjustment of children in a family. In thiss study, the researcher looks at the childhood phenomenon with a child’s eyes as a dichotomy of adulthood in the social and economic context. The researcher made this attempt in a comparative study of childhood and adulthood concepts as viewed by children brought up in families with different levels of material well-being. The researcher carried out a social and psychological research with 6 and 7 years old children by applying a focus group method at one of the research stages. The focus groups showed that children’s judgements of childhood and their vision of adulthood are determined by social and economic well-being of their families. Social and economic conditions as factors of social adjustment are reflected in children’s representations and model their own "life world" at present and in future.