The future will change dramatically in the economy. Be prepared. Plan very well. And don't make the classic mistakes!

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 In today’s economy, for those who are still working and not financially wealthy enough to last for the rest of your lives, it is likely essential that you understand what is going to happen for the next 5 year period AND the next 10 year period and then adjust for it.

But be careful as this will tend to breed a lot of wishful thinking, where people, despite the advice from the wise (or their coaches), will have starry eyes about what they can do (and vastly underestimate the time it will take and the length of the runway of cash flow one will need to do the shift.

I would hope that everyone in this situation will read and massively gather materials and notes and then put them together into a valid plan for the transition. 

Yes, it’s likely true that most people will not like this process, as one will likely go into massive confusion at first...but then it will gradually organize itself into meaningful conclusions and strategies.  Do it aggressively.  Do it soon!  But do it with great, and complete, planning - and don’t make the classic mistake of not creating a long enough, safe runway.  As Warren Buffett, and Ray Dalio, counsel “always assure that the downside is not ruinous, only invest in what is safe”.  

What will you do?  

I thought this might be useful for you:  

Be Careful Of The Next Two Years - Podcast but with full readable transcript. 

 

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