Need to plan at to give at least £100k per child to set them up in early adulthood

[TulipLavender]

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

Save as much as you can whilst still having a good life. But save it in your name with perhaps a maximum of £20 k in each child’s name for first car , university etc
We are actively saving and are very financially savvy. We intend to make our children’s lives comfortable so that they don’t have to worry about money.
The poor plan for the weekend , the rich plan for the next generation… or something like that.

My older 2 are 21 and 19. Their dad walked away and barely paid a penny. I was 20 and 22yrs when had them and had no qualifications so worked part time whilst studying and gained a law degree and then a decent job although ended up having another child, buying a house and ended up paying high cost nursery bill so financially haven’t been able to save much.

21yr old has just graduated from a very good uni and straight into a graduate role. He passed driving test and has car to commute to work. My 19yr old is at a very good uni doing good degree and also working part time job. I’ve taught them the value of education and for years they played sports where i took them to training sessions and matches. Have made it clear they will always have a roof over their heads and hopefully taught them to know their worth and show respect for others. I’ve given them what i can and when take them places i pay as want to treat them. Wish could give them £100k each as a starting point but unrealistic so i take pride in the start i’ve given them and will continue to show support and so far so good. Money is good to have but it def takes more than money to provide a good start

Ah but it works both ways doesn't it? The adult kids also look after their parents

This popped up on my Facebook feed today! Thought it was fitting for this thread 😁