Sunday, October 5, 2008

Future

These are just some random thoughts about the future.   I for one (of many probably) think that we are heading for much harder economic times.   We've lived a lifestyle that led us to buy whatever we wanted, not what we needed, and we as a country have racked up a lot of debt.   Many of us (individuals and families) are way overextended.   

I just think kids in high school and college need to start thinking purposely about the future.  They need to develop the habits that they will need for the next 20 years and the need to do this more now than in the past.   They need to purposeful in their school work and strive to take it up a notch.   Competition for good jobs is going to be harder.   Be savers, not spenders.   Purpose to put a big fraction of any moneys earned away in savings every month.   Don't buy on credit!   Get the habits started now.

Regarding studies, think globally and about the global economy.   Move to things you love but also move to things that will be valuable in a flat, global economy where there might be economic hardship for years to come.   Perhaps one might focus on careers that allow you to not depend on corporations and the whims of their decisions.   Perhaps towards careers in services that are timeless and simply won't go away.   Think about it.   Talk to wise people.

Speaking of wise people, seek counsel from your elders.   Ask them their thoughts about the future.  What mistakes did they make and what things do they recommend?   

All of us need to cut debt and cut consumption.   Quit buying so much ( sorry retail stores ) and be happy with what we've got.    One song goes 'have what you love and love what you have.'   I agree.   Quit collecting so much stuff.


3 comments:

  1. Great advice. I've been thinking about all this for a while also. I need to cut back on some spending just like everyone else.

    ReplyDelete
  2. Excellent post Mark. Great advice.

    One of my cousins, who just started his four year college, asked for my help in choosing in his major.

    I suggested that he should look into Green Technology. But in these tough economic conditions venture capitalists will start pulling out from investing green/clean technology as well.

    ReplyDelete
  3. Good idea for a major. Business areas are usually good as well as personal services like doctors. I like Industrial Engineering and Economics a lot because they are timeless and can cross industries.

    Thanks for stopping by Saqib.

    ReplyDelete