#187: Future proof yourself and why it really matters

Podcast: Future proof yourself and why it really matters In this video: 00:29 – Watching Brett McFall’s video showing social trends 01:01 – How debt and baby boomers are affecting the economy 01:45 – Baby boomers now retiring – less people paying taxes 02:16 – Sources of employment are drying up – A.I and Automation are taking over 03:18 – Retirements funds are not big enough to live on for the majority 04:09 – You cannot stop or change what’s going to happen 04:30 – How Forex trading can help to future proof yourself 05:10 – Start small and learn “how” to trade 05:30 – The amount you can earn is not directly related to how many hours you work 06:20 – Get away from the x hours work for x payment mentality It's time to future-proof yourself, and invest in your own education. Let's talk about that and more, right now. Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 15th of July. I wanted to talk about why you need to invest in yourself, and why you need to future-proof yourself. Watching Brett McFall’s video showing social trends You see, I've been watching a video by a guy over in Australia, called Brett McFall. I've been following Brett for many years, probably ten, twelve years, or so. He's released a video that shows some very interesting, but also, some very worrying social trends that are out there. He lists three main concerns that people need to understand, be aware of, and also, you need to have a plan in place, so that these trends don't affect you too much. How debt and baby boomers are affecting the economy The first thing he talks about is these three dangerous trends. The first dangerous trend is how debt and baby boomers are affecting the economy. It's a really interesting thing. He's talking about Australia, but this same principle can be applied to most of the western world. He's talking about how debt is strangling the economy in all countries, as a result of interest repayments, and this can be personal repayments, right through to government repayments. The amount of money being wasted on interest repayments severely affects the lack of infrastructure that can be built, because everybody's getting into more and more debt. Baby boomers now retiring – less people paying taxes You add on top of that, the number of baby boomers that are now retiring. You're getting all these people who have been earning money, coming out of the work place. Now they're getting to an age where they're going to start to take money, in terms of health and retirement funds, etc. There's a real issue there, because now there's less people paying taxes, but more people taking or needing those tax payments. That becomes the first social worrying trend. Sources of employment are drying up – A.I and Automation are taking over The second one is that sources of employment are severely drying up. You look around the world, the amount of automation, the amount of artificial intelligence that's happening. It's a really exciting thing, and we can really benefit. You can take advantage of this artificial intelligence and automation that's going on, to help run a business better, to save time, save cost, countries all around the world, etc. All that is fantastic, but as an employee, it can be quite dangerous, because artificial intelligence is going to take away so many jobs in careers that right now, traditionally, have been very good and safe careers. This is not quite in place, yet, but it's something that's coming. As artificial intelligence becomes a higher reliability, it's something that could create a lot more unemployment. You add that to the first scenario, and you're now getting even more people without jobs, which means there's even less people paying taxes.