Personally, I’m worried about becoming unemployable. I’m especially worried about new technology replacing human labor. The best insurance against my labor being devalued is lots of capital.
Invested in whatever the machines can’t do. Or what they will multiply instead of devaluate.
Like hairdressing, chef cooking, extreme sport tour guide, land in scandinavia (if Hansons guess about the emulations hub is right), energy sources. Which is what one should invest in, if afraid of the emulation economy.
It’s a reference to ‘em cities’, where the limiting resource will be a combination of electricity generation + cooling. Scandinava has dams and geothermal energy so cheap electricity (think why Iceland has aluminum smelters) but also cold weather and even colder oceans, so cheap cooling.
Depending on your current career path, up to a certain age it’s entirely possible to switch careers entirely, even to something that makes concrete use of skills acquired from another career (so it’s not a complete restart). Built-up capital or some other means of remaining self-sustainable for a period of time could allow you to return to school in something completely different.
I’m not speaking from experience though; I can guess that this type of situation would be difficult. But when saving, balancing the return on investment with the accessibility of the funds seems wise.
Agreed, but the options listed, sadly, don’t help you there. If you use a tax advantaged savings vehicle, it’s much harder to actually use the money before retirement. At best you can borrow from it (which i ended up doing as a buffer when switching careers) or take the withdraw penalty, which eliminates a large portion of the savings.
So I’d agree with keeping savings as a hedge against unemoyability, but against usIng the 401k etc methods the OP listed if that is your goal.
Personally, I’m worried about becoming unemployable. I’m especially worried about new technology replacing human labor. The best insurance against my labor being devalued is lots of capital.
Invested in whatever the machines can’t do. Or what they will multiply instead of devaluate.
Like hairdressing, chef cooking, extreme sport tour guide, land in scandinavia (if Hansons guess about the emulations hub is right), energy sources. Which is what one should invest in, if afraid of the emulation economy.
Can you link me to this? I searched but could not find what you are talking about.
It’s a reference to ‘em cities’, where the limiting resource will be a combination of electricity generation + cooling. Scandinava has dams and geothermal energy so cheap electricity (think why Iceland has aluminum smelters) but also cold weather and even colder oceans, so cheap cooling.
Depending on your current career path, up to a certain age it’s entirely possible to switch careers entirely, even to something that makes concrete use of skills acquired from another career (so it’s not a complete restart). Built-up capital or some other means of remaining self-sustainable for a period of time could allow you to return to school in something completely different.
I’m not speaking from experience though; I can guess that this type of situation would be difficult. But when saving, balancing the return on investment with the accessibility of the funds seems wise.
Agreed, but the options listed, sadly, don’t help you there. If you use a tax advantaged savings vehicle, it’s much harder to actually use the money before retirement. At best you can borrow from it (which i ended up doing as a buffer when switching careers) or take the withdraw penalty, which eliminates a large portion of the savings.
So I’d agree with keeping savings as a hedge against unemoyability, but against usIng the 401k etc methods the OP listed if that is your goal.