Why A Job Alone Is Risky.
I will break it into 3 parts: 1) Economic Downturn For Years, 2) Zero Control Over Your Job, and 3) Health Versus Wealth.
Part 1: Economic Downturn For Years
Well, in actual fact, if you knew in advance, if you had forewarning of what was going to happen in the economy, that there was going to be a major downturn, would you have done something about it? It's like saying would you have taken some precaution against an event, an illness, if you knew it was possible or likely to occur.
We would think that we would do it, but in actual fact most people don't. They just live for today and they ignore the warning signs. In fact, from the early 1990s I was very much aware that the Western world was going to go through an economic boom.
The Baby Boomer generation after World War II was so big that it was reaching its peak spending power by the time they reached their 40s and that's when they had children and they large houses, their biggest expenses and also their biggest income. And so they can afford that. And that is why we had the boom.
But now that generation is starting to approach retirement and will it happen for the next 15 to 20 years as they leave the workforce. Many will stay on through necessity. But, are you somebody that is still in the workforce and will be working during this time? Think of all the costs that will come out of your tax money to pay for that generation as they have gone through and now not contributing to the workforce, and you see the state of the economy. Now ask yourself, can you really just be doing what you've always done with the job that you've got?
Part 2: Zero Control Over Your Job
If you look at the economy, and just go and look up the amount of debt in the United Kingdom at the moment. What makes United Kingdom different to some of the other countries is that there is so much private debt. It's made up of business debt, it's made up of financial debt in the financial sector of which the UK and London is a prime base of industry. It's also personal debt, not just the government debt you hear about. In fact, it even is equivalent to Japan about five times GDP is what the level of debt here is in the United Kingdom.
So take a look around. Are you actually putting more pounds in your pocket at the end of the week? Is your employer employing more people or is it stagnating? You see the stimulus that I knew would come is not being fed through to local business. It's being reserved, kept in reserves with large financial institutions which are sometimes speculating on the markets, and that's what you see...the volatility.
So ask yourself, how safe are you in your job? Because your job could actually be relocated. The business itself may even disappear. That's what happens. This is really what's called a clean out, a shakeup of the economy, and it happens every so often to get rid of the inefficiencies.
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