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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]With the rise of AI, I'm realizing that I will need to support my kids financially forever. We are stopping at 2 kids. I'm a doctor and I think aspects of my job are safe but the competition to get into medicine and other AI saf(ish) jobs will be too much. I'm expecting to pay for downpayment, my grandkids, etc. Are you all planning accordingly? [/quote]

Well, no shit. Since we are not going to live forever...maybe another 20 years (till 80) if we have a good running, we are not thinking forever.  But, here is our plan.

- continue living a MC life even though we are UMC.  
- pay fully for college (and college years), and make sure that they go to state flagship on merit scholarship.  No use wasting money on expensive college when jobs are going to go away. Make them major in in-demand major. Encourage them to continue to get more education and skills to become more resilient.  
- pay fully for their wedding. 
- pay fully for setting up their first rented apartment when they get a job in another city - furniture, furnishing, gadgets and appliances, all digital devices, sports gear, exercise gear, luggage, first professional wardrobe.  First 6 months of rent.  New car. 20K seed money. 
- let the kids stay free with us in our home for as long as they want.  Including their spouse and kids. If they want to stay forever? Ok. 
- provide childcare, pay for a nanny and cleaner if they are living away from us and have small kids. 
- let them stay on our medical insurance until they are 25. Even if they are working. 
- make them bank 2 years of their salary first, before they get married. encourage them to find the right partner and marry early. encourage them to date for marriage. 
- be open to building an ADU in our backyard or extending our house. 
- let our savings remain as is, live/save our fat pension, give them the non-taxable cash gift each year. 
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WTF am I reading? Are your kids incapable idiots?  [/quote]

Nope. Extremely capable kids.

Just giving them the economic leg-ups in their youth that we can afford to give. We are not wealthy, we are slightly UMC.

Oh - we will also buy personal robots powered by AI for them and us - 40K a pop - if it ever comes on the market. The subsequent savings and benefits will be enormous.

[/quote]

[b]Paying for their house cleaner?? [/b] You sound insane.  If my kid was incapable of supporting themselves I certainly wouldn’t be encouraging them to get married and procreate [/quote]

Hmmm...I'd rather pay for a house cleaner than mani-pedis, hair color at hairdressers, pets, starbucks, booze/wine, flowers, designer anything or luxury car.

The best return for money in terms of happiness, reducing stress, a happy married life, and buying back time with your family -  is a house cleaner.

My gift of choice for parents of young kids will always be  -   money for nanny/helper(even if a parent is SAH), landscaping company for mowing and a bi-weekly house cleaner.  Because this is when they need help and this is when they are not making enough to spring for these services.

I am ok if your kids cannot afford to get married and procreate. Not my monkeys, not my circus. I will make sure that I support my kids  to get over this hump.  Sooner or later,  they will build wealth as they spend more years earning and have leg ups.

And if there will be no jobs because of AI and societal collapse - well, the AC are coming back to our home to raise a family. Failure is not an option.  We are fine if others follow the "swim or sink" philosophy for their own kids.

We will follow the model of families around the world and over the centuries.  American dream and self-centeredness is not sustainable.  Why follow that?

[/quote]

If there are no jobs your unemployed kid will have plenty of time to clean their house and take care of their kids.  Maybe you should just pay them to clean their own house.  Now they are employed and have a clean house.  Win win[/quote]

You have a poverty mind-set, stuck on the first level of Maslow's Hierarchy of Needs. There will always be some jobs and wages.  Because they will always need consumers.  Otherwise who is Amazon selling to?

And consumers who have the education, support, time, basics and resources - can have a better chance to thrive in the new world.  So, no need for them to clean their own house, when they can outsource/automate the menial low value but essential jobs and buy back their time for more worthwhile stuff. [/quote]

Like what? They aren’t working. [/quote]

Hey, they will be the innovators, thinkers, policy makers, strategists, creators, engineers, doctors, researchers, scientists, teachers! People who are actually using their college education.  The best brains will be able to use AI in revolutionary ways.   And these people will need - family, support, education, continuity, hope, money - to thrive. [/quote]

Great. So they will have a job and can support themselves [/quote]

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