A world where investing in you will become your best personal financial plan.
The world of personal finance in 2030 is going to change in many ways. We will work longer and differently, and many of us will have the burden of paying for those who have not managed their own personal finances to adjust to an additional five or ten years of work presents a whole range of challenges for us as a society?
The podcast with Joseph Deitch, the founder of the Commonwealth fund ($160 billion in assets), is a window into how we can rebalance ourselves into a future where huge advances in biotech and more traditional technologies like 3D printing of organs will become realities. daily. View this podcast as a guide to what we should be doing as leaders in organizations to help our people better prepare for a financial future that will need to be managed differently.
Joseph S. Deitch is an American business executive and philanthropist and the author of Elevate: An Essential Guide to Life. In 2018, he founded the Elevate Prize Foundation, whose mission is to “empower people and organizations whose ideas and efforts elevate the human experience.
AI and the Internet of things, quantum computing, the cloud of almost everything will change our lives. We should expect these two technology engines to change the way we think about our financial management models for 2030 and beyond. We will be tracked by health care companies, rewarded for the right behaviors we have to manage, and will live longer because of it.
The next ten years require us all to invest differently for our financial future. As leaders, we must help others to reach this new world. Consider these facts from Joe Deitch: · Life span will increase with leaps and bounds. There are 69,000 people in Japan over the age of 100. How many more will there be in Japan and around the world by 2030?
· Every year, science finds ways to increase life expectancy by one year. Will we be able to help fund our new levels of longevity?
· 60% of those over 50 do not have money for retirement. The next generation will pay for this with higher taxes. How will this help them save for the future?
· College debt will mature and decline because political solutions will be needed to achieve some level of debt relief by 2030. Colleges themselves will be a convergence of physical and digital experiences to cut costs. We will go from a brick to a
· We will have to think about self-management ideas very differently. Careers, personal development, and finances will need to be central parts of managing life as it increasingly falls into our hands. Company leaders can play an important role in helping their employees learn these self-management skills.
· The investment portfolios will be powered by AI and will be very similar. To differentiate yourself in your personal portfolio, you will need a great deal of knowledge of the niche. For many of us, this will simply put too much pressure on each of us unless you know local, professional, or niche market knowledge.
Deitch’s Elevate Award is designed to recognize people globally who have remarkable skills but need policy, resource and management consulting skills, all in a network for meaningful change. Change is always better expressed and understood through stories. On a flat planet where we can see, feel, and begin to understand each other through these stories, this is vital to building empathetic and support systems that not only give back but can solve massive problems.