I have very young DCs and I'm currently nowhere near a high income but I've been thinking a lot about future financial planning.
What the impact of AI, unknown or insecure job market for younger generations, cost of living etc., I feel like I should prioritise saving to help provide some support for each of my DCs to help pay for uni costs and then support with later house deposit. I'm also expecting that they may need to live at home long into their 20s.
So I'm thinking i need to plan to be able to have £100k available for each child. Even this seems like it may not stratch the surface with unknown future uni costs and house prices but it will be a struggle to achieve this savings goal.
What are your thoughts around future financial planning for yoru children, do you have a target amount in mind? Would you prioritise this over paying a lot for things like holidays now?
YABU - its too much to give and need to reprioritise enjoying life more now
YANBU - with such unknown futures for our children, they will need at least this to ensure they have a safety net and support with getting on their feet