If you pick the last option, what would you say? I’ve heard 10 years worth of cost of living expenses before.

The ideal amount of money to have saved is as much as you can afford.

Everybody dismisses the idea of free product. Big brands already hand out free tshirts when it costs them full price to produce, if the production cost were leveled to the ground then companies will be throwing smartphones at you just to see you carry their logo around.

The big crunch of today is housing, because there isn't enough of it, because our pyramid scheme overlords do not make maximum profits if the rest of us have sufficient supplies. The thinking machine will boost supply long before it abolishes human work.

Where is the "money doesn't matter, there's no way to predict or properly prepare for the near future anymore" option?

As much as possible. Make sure you use it before it becomes worthless

Generally speaking, at least 25 times your preferred annual salary in a diversified portfolio of mainly stocks or low-cost stock funds, especially if you expect to need this money for longer than a few decades.

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Generally if you’re young, at least 25 years worth of cost of living expenses in a diversified portfolio of low-cost equity funds earning at least the U.S. market average of 8-11% annually.

When you’re living off of this, try to keep withdrawals at or below 4% of your portfolio’s value each year.

The vast majority has almost no money saved, and owns almost nothing. You have listed options for the top 1%. If that's what it takes, then the general population is doomed.
The economy resides on the premise that everybody needs money and that they can survive with money aquired by working. If this is not possible for 80% of population, money will no longer have value. If the vast majority has a survival problem, guess what, everybody has a problem.

I’ll not be homeless for sure because I have my fully paid off home. Other than that, I can’t guarantee I won’t starve if things go south.

So you won't be homeless, but will you be secure in an environment where vast multitudes are? This is the picture AI-pessimists tend to paint. (Disclaimer: AI-optimist here.)

I don't think anything is a given during this period. That said, I think the possibility of society becoming even more stratified over this time is very real. Between "living off wealth" and "living off UBI," I know what side I'd prefer to be on. I don't plan on having much more actual cash/cash deposits than I would otherwise, but I absolutely want to own as much of other assets as I can before my own job is disrupted.

For sure not. Government could be overthrown and my property rights simply be nullified for sure. Who knows.

I am assuming those things won't happen.

Why will it become worthless? It seems counterintuitive

At any moment you could contract cancer and it would wipe out all the money you have. There is no amount of money that will keep you secure as the world falls apart.

It depends on your living expenses. It may not be completely relevant in this case, but in the r/financialindependence community they have the so called "4% rule" where you can withdraw 4% per year from your portfolio indefinitely. So, let's say you need $30000 per year, you would need $750000 in your portfolio to not having to work ever again. But if you are just planning to ride out a few years the amount is much smaller of course.

I also foresee that the 4% rule or even the whole FIRE (Financial Independence, Retire Early) movement will die out once UBI arrives, for obvious reasons.

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If we're in a massively deflationary cycle and money goes away, it's not going to matter how much you have. There will be a shorter term period of time where it will matter a lot If you believe the doomers

>I also foresee that the 4% rule or even the whole FIRE (Financial Independence, Retire Early) movement will die out once UBI arrives, for obvious reasons.

Maybe, but I'm not so sure. If it does die out, it will be because the kinds of upper-middle class jobs that support the effort disappear. UBI won't be enough to kill it alone. Most FIRE people seem to want to keep those upper-middle class lifestyles. Fewer seem to want to get to $500k in order to live off $20k/year in the rural Midwest for the rest of their lives. UBI will provide for barely more than subsistence living until we get to a post-scarcity economy.

deflationary means money becomes more valuable over time- or am I confused?

Yeah the value of the dollar goes less so whatever you have becomes more valuable

that is the opposite of deflation, but I get what you are trying to say

Sorry I meant to say the value of each dollar went up. That was a this statement in my explanation. But thank you for correcting

Invest in property instead

I’m just here to point out that “At least $1,000,000” and “More than $1,000,000” are the same thing.

You’re right, I meant to write “Much more than $1,000,000”

Interestingly, considering the vote differences, it appears most people understood.

Go vegan - no more cancer

Are you saying vegans don't get cancer?

I don't think most people can reach 100k savings let alone 500k.

Maybe requalify? Holy fuck, you UBI ppl rly dont want to work ey?

IMHO there is a lot of unmitigated bullshit in responses to fears of AI killing entire job classes. The idea that governments, especially in the US, will change policies is ludicrous. There is little to NO chance of UBI being implemented in the next 10 years.

If people need a significant amount of savings to reasonably survive the next few years, then almost no amount of money will save you, because civil unrest will kill millions.

Best way to avoid that is to not disrupt things too much, make sure people can keep a standard of living, and keep hope for the future. Hopefully governments know that.

I would take a page out of the peppers handbook, and store essentials, and get as self sufficient as possible.

Even after ubi is implemented, it could be very shitty.. maybe it only give you the bare minimum.. or any number of things.

Buy a house in the countryside, learn to grow and store your own food long term, purchase solar panels or some other power generation technology, that isn't reliant on the grid, and have a clean source of water.

Best way to weather the storm, isn't to save dollars, it's to save actual physical goods.. money in, say, an economic collapse (which is very likely considering the amount of chaos which will ensue from millions losing their jobs overnight) is worthless. You could have a million dollars, if I think it's got no buying power, I won't be trading you my chickens for it. Lol.

I'm skeptical your last point. UBI is becoming a hotter topic, at least in the anglosphere. Hell, even the "evil overlords" of AI (who themselves are relatively powerless to stop a sufficiently intelligent AI from doing away with them) are interested in UBI. Money matters.

https://www.reddit.com/r/singularity/comments/10p8unc/sam_altman_on_how_to_pay_for_ubi/

https://analyticsindiamag.com/path-to-ai-utopia-openai-founder-sam-altman-chalks-out-a-wealth-for-all-plan/

Depends on how early in the transition you lose your job and how long the transition is.

I think the transition could be anywhere between 5-20 years. Depending on how efficient and proactive a government is.

White collar jobs, except those at the very top of each field, will lose their jobs first. Or atleast start to make less.

Given this, you should have 5-20x your yearly expenses saved. Wealth in currency or assets may not be stable either. So really your only hope is that the government gets it's shit together

UBI will last about 3 months before it’s null

Geeks Interested in UBI and thing AGI is a panacea for mankind are not old, white men in the US Congress and White House.