Importance of money in the future
Posted: Fri Mar 11, 2022 9:46 am
I am a 22 year old man just getting started on a high income career and I am realizing that if I make my career a priority and save wisely I can retire in 20-25 years if nothing unexpected happens.
This has got me thinking about how important money will be in the future. If the singularity comes just as I retire I guess all my work will be for nothing since we will be a post scarcity society anyway. But what if it's late? I still expect the trend of something like UBI appearing as automation grows and technological advancement pace accelerating. Wouldn't those things decrease the importance of money since everyone's basic needs would be met anyway and even if I use my money to get something advanced, rapid technological progress will mean that thing will soon be obsolete or cheap enough for anyone to afford?
On the other hand we have things like cryonics which cost quite a bit and could mean the difference between death and life. I wonder if there is going to be a window of time in which costly interventions like mind uploading is going to make it so having more money is the difference between living forever and dying.
If you were in my position would you prioritize enjoying life now or investing in your career to enjoy life later?
This has got me thinking about how important money will be in the future. If the singularity comes just as I retire I guess all my work will be for nothing since we will be a post scarcity society anyway. But what if it's late? I still expect the trend of something like UBI appearing as automation grows and technological advancement pace accelerating. Wouldn't those things decrease the importance of money since everyone's basic needs would be met anyway and even if I use my money to get something advanced, rapid technological progress will mean that thing will soon be obsolete or cheap enough for anyone to afford?
On the other hand we have things like cryonics which cost quite a bit and could mean the difference between death and life. I wonder if there is going to be a window of time in which costly interventions like mind uploading is going to make it so having more money is the difference between living forever and dying.
If you were in my position would you prioritize enjoying life now or investing in your career to enjoy life later?