My parents had a defined benefit (final salary) pension organized by their employer, of the kind that no longer exists. They didn't have to choose how much to save. My father knows how to fix 1980s era cars, but 2020s cars have software that makes them impossible for anyone except a dealer to fix (or even for the dealer in some cases).
The world changes so parental advice may need some adaptation, but the general idea is that they show their child when they make decisions. This may have been more about what job they took for what pension it came with and what car they bought for which labor price and now it is which car to never buy.
This kind of thread bothers me with it's hand wringing. Parents and teachers often spoke of their lives in casual conversation when I was growing up and it was pretty clear to me that, aside from it being a response to having no adult around to make a more useful conversation with for them, there was an element of educational intent.
