How to Prepare for the Wealth Singularity
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Futurists speculate that a Singularity is coming. The Singularity is a time of technological supremacy.
Several authors have discussed the Singularity, or versions. People like Ray Kurzweil and Frank Tipler are among the advocates–almost apostles–of this event. It’s also the subject of numerous Sci-Fi books and movies.
Those who believe the Singularity will be beneficial say that we can expect to live longer and become richer. Once technology reaches a certain stage, the age of scarcity will give way to the age of abundance.
We’ve dubbed this, the Wealth Singularity. There are different estimates of when this will happen, but it may be only a few decades away. Whenever it happens, the truth is you can already enjoy some of the benefits of the Wealth Singularity and you can start to prepare for it now.
Stop smoking and get healthy
The better you take care of yourself, the better your chances are to live longer–and experience the Wealth Singularity.
Save for a Automated Trading account
Automated Trading combines the returns of trading with the less intensive investment approach of mutual funds. It will also be a transition into the Wealth Singularity. But Automated Trading (or any type of investing) involves risk. You can start to prepare for this by saving money to create an Automated Trading account. The account will be separate from your retirement and emergency savings and be used exclusively for Automated Trading.
Explore residual income
Begin to experiment with ways to create wealth that can be repeated with little effort. It’s called residual income and most examples are easy to implement. Here are some excellent sources to learn more about residual income.
Take the 10 percent approach
We have to toss off the shackles of being wage-earners and become wealth generators. If you currently have a full-time job, take the 10 percent approach to initiating self-employment and wealth generation. It just means you dedicate 10 percent of your normal work week time to work toward self-employment and financial freedom. You can read more about the 10-percent approach.
Read and get inspired
There are plenty of great books that will help you transition to a wealth-generator mindset. We even created an eGuide to the Wealth Singularity. There are plenty of other books that can help, too. Here’s a list of books that ties in with one of the most important tools of the Wealth Singularity–passive income.
Not everyone believes that the Wealth Singularity will happen. And we’re always open to comments and criticism. The great thing about this plan, though, is even if the Wealth Singularity doesn’t happen–or doesn’t happen in your time–following these steps will help generate wealth and become more financially independent–Wealth Singularity, or not.
Related posts:
- Pioneers Of The Wealth Singularity
- Wealth Singularity Technology Is (Almost) Here
- The Secret Of The Wealth Singularity
- Money and Technology: The Wealth Singularity
- Read the First Two Chapters of The Wealth Singularity for Free
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
I will have to explore and examine the “Wealth Singularity” idea more, I didn’t know that we didn’t have abundance now. Maybe that’s the old Peace Corps volunteer in me. All of these ideas are important whether we have wealth singularity or plurality, thanks for providing some great reading, Matt.
This is the first time I’ve heard of singularity aside from the theoretical singularity in physics. I guess we are near. Thank you for the good advice although I have been applying some of them lately.
You’re actually right, Tyler. There is an abundance right now. I think it will become more evident. If you think about it, our economy right now is based on scarcity. Predictions are that will change. How it changes will be up to us.
Right, walter. If you ever want to check out info on the Singularity, I recommend Ray Kurzweil’s web site. I added it to the post. http://www.kurzweilai.net