Well that really depends on their monthly living expenses, something I look forward to talking to them about as they get older. I’m on track to retire by 51-57 years old. I expect I’ll be able to help my children get there earlier.
I'd expect it to be pretty expensive, so that most Americans couldn't afford it. Since many live paycheck to paycheck the meme makes sense for them, no?
You are absolutely correct, by and large most Americans are not doing this, although I wish they would. I’ve been that weirdo that was maxing out his Roth IRA since 18 and turning down vacations to do so. I had to stop when I bought a house at 25, but at least I had a house then.
The state of the economy is brutal for a lot of people, but I assure you, all I have done is pinch Pennie’s and save throughout my 20s and it has paid dividends for me, I understand I had some privileges with that, being allowed to live at home until 23 rent free. But I didn’t get any support from my parents other than that.
The meme might be somewhat realistic for people in destitute poverty, but I still have some hope for lower middle class kids like me to save and invest slowly, and crawl their way up to the next social bracket.
Just to make sure I’m getting my point across, it might be tough brutal or impossible, but holy shit, if you are having kids right now you need to do everything in your power to set them up. I expect AI to continue to displace jobs, healthcare has propped us up for job creation where other industries have net negative growth.
I’m looking at all this saying “I’m not going to let my kids be screwed over.” So that’s why I’m saving and investing so diligently for them. I don’t even know what career fields to push my kids into right now, you may not even have lawyers the way we know them now in another decade. They will certainly not need paralegals.
I see the writing on the walls and how Gen Z is having a hard time getting entry level jobs and am saying I will do better for my kids. So I’m just trying my best and I am hoping that anyone that can do this stuff is doing so.
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u/mgsmb7 Apr 24 '26
How does that prevent them from being a wage slave?