• flag+612 8091 5708
  • flag+1 646 583 2752
  • flag+44 20 3289 1849

#187: Future proof yourself and why it really matters

Podcast:
Play

Future proof yourself and why it really matters

In this video:
00:29 – Watching Brett McFall’s video showing social trends
01:01 – How debt and baby boomers are affecting the economy
01:45 – Baby boomers now retiring – less people paying taxes
02:16 – Sources of employment are drying up – A.I and Automation are taking over
03:18 – Retirements funds are not big enough to live on for the majority
04:09 – You cannot stop or change what’s going to happen
04:30 – How Forex trading can help to future proof yourself
05:10 – Start small and learn “how” to trade
05:30 – The amount you can earn is not directly related to how many hours you work
06:20 – Get away from the x hours work for x payment mentality

It's time to future-proof yourself, and invest in your own education. Let's talk about that and more, right now.

Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 15th of July. I wanted to talk about why you need to invest in yourself, and why you need to future-proof yourself.

Watching Brett McFall’s video showing social trends

You see, I've been watching a video by a guy over in Australia, called Brett McFall. I've been following Brett for many years, probably ten, twelve years, or so. He's released a video that shows some very interesting, but also, some very worrying social trends that are out there. He lists three main concerns that people need to understand, be aware of, and also, you need to have a plan in place, so that these trends don't affect you too much.

How debt and baby boomers are affecting the economy

The first thing he talks about is these three dangerous trends. The first dangerous trend is how debt and baby boomers are affecting the economy. It's a really interesting thing. He's talking about Australia, but this same principle can be applied to most of the western world. He's talking about how debt is strangling the economy in all countries, as a result of interest repayments, and this can be personal repayments, right through to government repayments. The amount of money being wasted on interest repayments severely affects the lack of infrastructure that can be built, because everybody's getting into more and more debt.

Baby boomers now retiring – less people paying taxes

You add on top of that, the number of baby boomers that are now retiring. You're getting all these people who have been earning money, coming out of the work place. Now they're getting to an age where they're going to start to take money, in terms of health and retirement funds, etc. There's a real issue there, because now there's less people paying taxes, but more people taking or needing those tax payments. That becomes the first social worrying trend.

Sources of employment are drying up – A.I and Automation are taking over

The second one is that sources of employment are severely drying up. You look around the world, the amount of automation, the amount of artificial intelligence that's happening. It's a really exciting thing, and we can really benefit. You can take advantage of this artificial intelligence and automation that's going on, to help run a business better, to save time, save cost, countries all around the world, etc. All that is fantastic, but as an employee, it can be quite dangerous, because artificial intelligence is going to take away so many jobs in careers that right now, traditionally, have been very good and safe careers. This is not quite in place, yet, but it's something that's coming. As artificial intelligence becomes a higher reliability, it's something that could create a lot more unemployment. You add that to the first scenario, and you're now getting even more people without jobs, which means there's even less people paying taxes.

Retirements funds are not big enough to live on for the majority

The third worrying trend is that the amount of people who have a good retirement fund or superannuation, or whatever it is you call it in your country. In other words, money that you have invested, to retire on, to live on, when you're retired. The amount that people have, is not sufficient for what the vast majority need, for when they do retire. Again, it becomes an issue, because you're then going to get a lot of people who can't afford housing, that can't afford their health to be looked after, etc., when they retire. Then again, it puts more stress on the people who are working, who are paying taxes. It becomes a vicious cycle.

You can see, these three trends are developing more and more. Like Brett says, you cannot stop what's going to happen.

You cannot stop or change what’s going to happen

It's going to happen. You have to face that that is actually going to happen. You cannot change what's going to happen. What you can do is invest in yourself and future-proof yourself, to ensure that these changes don't adversely affect you.

How Forex trading can help to future proof yourself

As a Forex trader, I'm looking at that, thinking, there's just an amazing opportunity for people out there to trade Forex, and to future-proof yourself to supplement your earnings, or to supplement your retirement fund, by trading the Forex market.

It's all well and good to say, “Let's go trade Forex,” but you have to understand what you're doing, because if you've been trading Forex for any length of time and you're not making money, you'll know that it's a lot harder than most people say it is. It comes around to the fact , again, that you need to invest in yourself. You need to future-proof yourself. You need to get an understanding of how to trade. If you're not at retirement age right now.

Start small and learn “how” to trade

Start really small with your Forex account, and get to understand how to trade. Then slowly build into it, and get bigger accounts, and you know what you're doing by then. It's something you need to make a decision on starting now.

The amount you can earn is not directly related to how many hours you work

What I love about Forex … There's so many things I love about Forex, but one of the main things I love about Forex is that the amount that I can earn from trading, is not directly correlated to how hard I work. Sure, I've done thousands and thousands of hours of research, and time studying charts, etc., over the years, and continue to do so. The thing is, if I'm taking a trade and I make a 1% gain, let's say, that 1% gain, really, the amount I make, is dependent on my account size. 1% gain on a thousand dollars, the actual work involved, is still a 1% gain on a hundred-thousand-dollar account, or whatever size the account you have, is. By trading, it gets away from that mentality of, “I need to work X number of hours to get X amount of money.

Unfortunately, that's how most traditional-based jobs are. You can see with Forex, , it has the advantage of not having that limitation.

Have a think really carefully about what I've said, because this really does affect most people out there. Have a think of those three points. You've got debt increasing and more baby boomers retiring. You've got sources of traditional employment drying up, and you've got most people out there, reaching retirement age without sufficient funds to fund their retirement. Do something about it. Start now. Invest in yourself. I believe that the Forex market is probably one of the best places you can invest in yourself.

If you believe that I can help you, what I suggest you do is to jump onto one of my webinars, send me an email, and let's see if I can help you, and you can come on board with my course, and help to future-proof yourself by being a really profitable Forex trader.

Play