Depending on which researchers you talk to, about half to two-thirds of all Americans aren’t saving enough for retirement.
There’s a variety of reasons for not saving for retirement. You might think you don’t have the spare money. You might think that saving money for retirement can be started “later.” Or, you’re one of those James-Dean-live-fast-die-young type of people who figure they won’t be around long enough to enjoy the delayed fruits of their labors.
Worse, some people might think they can rely on Social Ponzicurity to take care of them in their golden age.
The truth is, a lot of factors can affect your retirement. So, if you’ve calculated your retirement savings, or you’re going to–you might want to consider the following six factors that can influence your retirement:
The story of the 21st century will be the story of using technology to create leverage. Leverage is often used to describe weight and money. In the 20th century, leverage referred to massive machines that moved rocks, laid concrete, and shaped steel.
But there are other forms of leverage that technology can create.
By using technology to automate aspects of your life, you can create massive leverage. You’re using less time, while accomplishing more work.
Automated Trading is an example of how technology is creating leverage. In fact, Automated Trading creates four levels of leverage–four ways you can get more results out of the work you do.
The future demands more of us than our institutions have prepared us for.
Our learning institutions are designed to make us productive members of society. Heavy emphasis on “productive.” In fact, schools are built around the idea that we will be wage earners.
Teaching rote memory and learning to color within the lines and think inside the box are more valued in a factory setting where the guy or gal on top is the Queen bee wealth creator; everyone else is just a worker bee.
But, now, the hive has changed. You have more computing and communication power in your iPhone than US Steel did in its entire corporate structure. There’s no reason you should stay a wage-earning drone when you can become a wealth-creating owner.
Do you think that little room in your house–the one where you set up your desk and computer–is especially scary?
Then why is your boss so freaked out by it?
Home offices are not a threat to productivity; they’re a threat to power. Certain people are turned on by an office full of fawning subordinates, even if they’re paying for the attention.
But don’t worry about working for these bosses much longer. They’ll be obsolete. Innovative companies with enlightened managers are out-performing and out-saving their dinosaur competition by creating more creative work options.
Let’s say we build a time machine and set the dial for about ten years in the future.
In this mind experiment, we spot two people–one rich and one poor. We decide to talk to them.
Besides telling us about their families and letting us in on tidbits about the future, the rich gal tells us why she’s rich and the poor guy laments the reasons for his modest state.
It turns out that the rich person is an owner, a creator, a collaborator, and a value creator; her low-earning friend is an employee, a laborer, a soloist and a wage earner.
We decide to ask why. The reasons, it turns out, are technology and attitudes.
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.
The important point about the Wealth Singularity–a point in time when abundance will become ubiquitous–is that elements of this revolution are already among us. The Wealth Singularity is in the embryonic stage.
Like other ages of technological revolution the tools have been created and the infrastructure is in place. The only thing that remains is for human imagination and ingenuity to catch up.
This has already begun. Pioneers have stepped forward who are mastering these tools and are already creating wealth in ways that were once unimaginable. These pioneering wealth creators are making money in unlikely places–blogging, affiliate sales, product and digital product creation, inventing and investing, to name a few.
Things aren’t the same. And things will never be the same.
If anyone noticed how a default in Dubai can cause the yen to crash and the dollar to fall and lead to a international stock market swoon, you can get the idea that the economy is not the slow, deliberative market that it used to be.
It’s fast. As fast as the speed of light, or, at least as fast as CNBC, Fox Business, and the internet can report it.
That can be scary. But it can mean that the future economy will be vibrant and full of opportunities, as well as dangers.
The speed of macro-economic fluctuations also changes our future personal financial picture, a financial picture that will be equally elastic and equally dynamic.
Here are some links to great posts and stories that may influence your future financial freedom.
Futurists say that humanity is on the cusp of scientific and technological discoveries that will change it for ever. Energy, medicine, manufacturing, communication, and investing, just to name a few will alter the way we live.
And it will change the way you make money.
We call it this new economic period the Wealth Singularity. It’s our mission to create the technology and write the guides to help people navigate this new era. But, actually the new future of money is already happening–whether you’re ready or not.
In this edition of Weekly Wisdom, we’ll reveal that people are already embracing this and that new ways to make (and spend) money are being created.
Sid Caesar said that comedy has to be based on truth. You take the truth and you put a little curlicue at the end.
The truth is that the Singularity is happening all around us. Technology is increasing rapidly. So, according to comedian Lewis C.K., is our human ability to complain.
I was thinking recently about how I used to turn the channel of the television manually. With a little knob. Inevitably, the channel turner would break off and we would channel surf with a pair of pliers.
But, over the years, I forgot how much of a pain that was.
After I watched this, I don’t think I’ll mind much that when I’m lying on my couch, sometimes my remote has to be in a certain angle to switch channels.
(Note: The embedded video doesn’t work, so please click on the link to watch the video on Youtube. Damn technology…)
The Singularity is Near by Ray Kurzweil is the book that started it all. If you want to know about the future, it is the best book I've found. Absolutely fascinating.
Rich Dad Poor Dad by Robert Kiyosaki. This is one of the most popular personal finance books of all time. A must read for anyone who wants to become financially successful.
The Millionaire's Secrets 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.
The One Minute Millionaire is a great book about how to become a millionaire. Written by Mark Victor Hansen and Robert G. Allen, this book combines an inspirational story with practical everyday skills.
The Art of Learning is the fascinating story of Josh Waitzkin, the world champion in both chess and Pushing Hands. His style is mesmerizing, and the strategies for learning are priceless.
The Alchemist is one of the best-selling and most inspirational books of all time. Anyone who has ever had a dream in life needs to read it. Perhaps my favorite book of all time.
Love is the Killer App is a powerful, step-by-step book about how to have a wonderful experience and spread love in any working environment. Think the office has to be a source of bad energy? Think again.
The 4-Hour Workweek is a powerful book full of strategies about how to get more done in less time. For anyone who is looking for leverage or wants to achieve success quickly, this book is absolutely invaluable.
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.
