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Are you scared of the future?

09/07/2017

Are you scared of the future?

With what is happening in the world at the moment, I can see how you could be.

Take this recent headline from an article sent to me by Deakin University, as an example of something that could elicit fear:

“Automation, ‘technopanic’ and the future of work.”

An ominous subject made even scarier with the sub-title; “Manual labour will disappear in the future as robots take over most menial tasks.”

On the other side of the world, Kim Jong-un has his finger poised on the trigger of destruction; throwing rocks at western allies. Trump sits in the other corner, ready to retaliate.

Despite their differences, both news events can be seen as frightening. Could you have better reasons to freeze up? What do stories such as these they mean for your decision making?

Closer to home, we are starting to consider recent statistics from last year’s Census.

Population growth across Australia is substantially up, compared to previous decades, with expectations it will double to 50 million within the next 50 years.

The population will age and the balance of growth is expected to be away from NSW and Sydney to Victoria and Melbourne. Presently Victoria and Melbourne are growing at a rate 12% faster than NSW and Sydney; Melbourne is increasing 1,859 people per week while Sydney increases at 1,656 people per week.

Are these statistics scary? What do they mean for our property markets? How many hundreds of other major and important questions can we ask about this, and the impact it has on the future? Many hundreds, I am certain.

In my experience many people worry so much about what is to come that they freeze and do not take action to secure their future financial security in the present.

In reality, the only difference between the present and the past decades and centuries is the rate of change.

World population growth, growing economies, determination to improve the socio-economic circumstances for the billions in China, India, Indonesia the Middle East and other parts of the world, globalisation, and the geopolitical balance of necessity; all these factors together underpin sensible and conservative investment strategies.

We live in a world of change and there’s always someone with their finger on a trigger of some sort; it’s up to you to decide whether you’ll let the world pass you by or if you’ll seize the day. You cannot let fear hold you back.

To remain pessimistic and inactive will doom you to relying on government handouts.

Procrastination is the biggest of the financial evils that you can commit.

Correct and conservative financial planning, balance throughout your portfolios into secure shares and property, and the careful and most definitely positive use of appropriate financial leverage are the foundation stones of building wealth. These are as appropriate today as they were every year for many years into the past.

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