With the rapid advancement of AI technology, many experts fear that mass unemployment could be on the horizon. As individuals, what steps can we take to prepare for this potential change? I'm considering strategies like increasing my investments in stocks, selling depreciating assets such as property, and reducing expenditures. I'm also thinking about developing skills that may be harder for AI to replace, like those in hospitality. However, I wonder if there are additional strategies or approaches we should consider to navigate such uncertain times.
5 Answers
One of the best strategies might be to invest in land. While other forms of wealth may depreciate during economic downturns, land tends to hold value. Owning land could even allow you to exploit its value in times of crisis, as people will always need somewhere to live.
That's a fair point! But if we reach a point of a post-scarcity economy, land could be one of the last valuable assets left.
I think the key here is practicality! Learning essential skills like cooking or basic repairs could be invaluable. AI might handle many tasks, but it won't be fixing your plumbing anytime soon.
Focus on learning things like spirituality and philosophy instead. Understanding ourselves and the world may be more valuable than any tactical preparation because there's a lot we can't control. Just be careful not to dismiss rational thinking!
Here's my two cents: First, try to reduce your debt as much as possible, especially student loans. That way you won't be under someone else's thumb when things get tough. Secondly, save money even if it means cutting back on fun stuff. Having a financial buffer can give you freedom to adapt when the unemployment wave hits. And lastly, learning self-sufficient skills like sewing or carpentry could be really handy down the line.
True, action speaks louder than words. It’s one thing to talk about saving; it’s another to actually do it.
Absolutely! Preparing for a financial crash plus becoming self-sufficient could be vital, especially if resources become scarce.
Honestly, nobody really knows what's going to happen. It's a total mystery. Some say owning land and saving up money seems wise, but until we actually hit that tipping point, no one can say for sure.
It really depends on the land's location. If urban areas decline due to a lack of jobs, those prices could drop significantly. Plus, if everyone turns unemployed, land ownership might not guarantee safety from expropriation.