Parents raising their children today to go to school and one day find a safe, secure job with benefits are completely delusional. At this point, it’s a real fairy tale they are being prepared for.
Robots will replace white collar jobs, blue collar jobs, doctors, you name it – they are coming for the middle class.
The middle class will dream of the days of globalization once the robots are done with them.
Minimum wage laws have already expedited the purging of low-skilled workers and the young at places like McDonald’s, who are transitioning into 100% automated ordering systems and will soon even include burger flippers.
Many are wondering who will save them… They believe a vote for a politician or change in government policy can be their salvation, but the reality is that only you can determine how this life will all play out for you.
If you want to know what a city looks like after government has tried to help or overcome market forces, just look at places like Detroit or the communities with a high percentage of welfare recipients.
It’s not good, so you’re either going to get serious about becoming financially independent or I fear many reading this will become like refugees in their own country.
The wealthy are wealthier than ever, and this trend will continue, but for the middle class, it’s crumbling, and to double down on it is highly risky today.
If I had to predict how much time you have to become financially independent before things really start to get ugly, I would say 5 to maybe 10 years.
You have peak government stupidity in collapse, especially with public pension and entitlement obligations. And technology is transforming everything!
Financially, many are preparing for the next 20 years as if they will look like the previous two decades, and that’s just not the case.