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PanzerKommander t1_j5g4wq0 wrote

Purpose? Doing whatever the fuck I feel like.

Probably expanding my gun smithing and historical reienacting hobbies by restoration or rebuilding of classic firearms and vehicles.

Making video games.

Traveling.

You name it, ill do it.

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p3opl3 t1_j5qugia wrote

Where will you get the money to do all that when AI replaces the value you are currently able to sell? Technically that's the bigger part of the problem here..

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PanzerKommander t1_j5qypjy wrote

Most likely, there will be some form of UBI that part can still be invested.

The wealthy at the top aren't retarded. They didn't get their fortunes by not being able to see trends. They know that raising the QoL of everyone will be Their key to preserving a hierarchy with them at the top. They don't want chaos anymore, less probably, than we do. It will also be trivial for them to do it. Besides, they still need us to be consumers.

Now, as for me? My wife an I are fortunate and disciplined, we've invested 60-80% of our income for the last 15 years in a mixture of Index funds, T-Bills, and other well-balanced assets. We are going into our late 30s with a portfolio that, should we retire now, will grant us a better salary than the average American our age (we will keep working to ensure a much better outcome later of course).

Trust me, the S&P 500 will always grow. Yes companies will fall out of it, but their shares will be sold and reinvested in ones that are rising (Charles Schwabb even has an AI directed mutual fund too).

If T-bills ever become worthless, then AGI and rich people will become the least of your worries.

And we own a lot of investment properties, including a nice ranch.

Basically, invest what you can now (the financial illiteracy in this sub astounds me. I thought thst this would be a place with more educated individuals) and standby and wait for the future. This is still a democracy and you still have power. The people at the top have a vested interest in keeping something similar in appearance to the status quo.

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p3opl3 t1_j5qzd31 wrote

I absolutely need to start investing more.. that's true... I look after my parents financially.. so it's harder than normal..

Fingers crossed on the UBI.. I have a feeling UBS is probably more realistic myself..

Great talk just released on TED about this...

https://www.ted.com/talks/aaron_bastani_the_case_for_free_universal_basic_services/comments

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PanzerKommander t1_j5r07dz wrote

I'll have to check that TED out. Big corporations are already expecting something like a UBI. I wouldn't be suprised if we see a mix of UBI and something like Friedman's Reverse Tax Credit to start off with.

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SteppenAxolotl t1_j5gyrtb wrote

How do you envision doing all that if you have no income? What if the only welfare assistance on offer is a daily voucher for 3 meals and a nightly reservation in a local shelter.

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PanzerKommander t1_j5h12ng wrote

Well, my wife and I have been investing our entire lives and have enough to go FIRE I'm our mid 30s with a better yearly payout than the average worker our age.

That being said, do you honestly think that there won't be some sort of UBI when we hit that point? Do you seriously think we won't have a post scarcity society when we have the entire solar systems worth of natural resources and the AI and robots to get it?

I swear listening to the doom and gloom on this sub makes me wonder why a large percentage of its user base hasn't offed themselves yet.

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SteppenAxolotl t1_j5hp001 wrote

I know those AI and robots will belong to someone. Do you think they will be any different than you. Do you have any plans to share your some of your investments with the lest fortunate. Why would you expect the companies that are investing billions to develop AI and robots will give you free stuff.

Try not to be too disappointed if reality chose not to conform itself to your wildest dreams.

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