@makemesmart we have very similar concerns. My D has now decided to go the conservatory and full time music route and we support her decision 100% however it is not without worry for me and my wife.
Based on all my interactions with folks in the field as well as discussions with my daughter’s teachers I am convinced my D will be ok. There are many avenues to explore and opportunities to generate income. Our bigger concern is actually on the health and wellness aspect.
As a performing musician your whole source of income is reliant on your ability to play. An unforeseen illness, a slip on black ice, a simple fall off the bicycle can all lead to an extended period of no work or even worse. My main concern and perhaps I’m being pessimistic, is whether my D will be able to keep herself safe and healthy enough to enjoy making music well into her retirement years.
I know there is no way to predict what will happen tomorrow and that unknown is cause for much concern for me and my wife.