One of the biggest changes I’ve seen in the world over the past few decades is the continual increase in complexity that we have to deal with—some of it due to one thing: the exponential growth of technology.
If you look back to the mid-20th century, life was much simpler.
People often worked for one organization their entire lifetime, giving them a sense of security that simplified their lives. And they could likely learn the skills needed to succeed in their position in six months or maybe a year, affording them a high degree of predictability. The whole of society had a sense of predictability to it.
Predictability vs. life after the microchip.
Enter the microchip in the mid-1960s. With it came increasing complexity in every area of life bringing us massive amounts of information.
The majority of people, though, don’t like change; it’s actually a negative experience for them because of all the complexity that comes with it. My thinking, though, is that change in the world is a good thing because it creates a wonderful opportunity
Financial planning is as much about transition management and making the most of the opportunities change brings as the numbers.
I monitor change in finance daily, I am curious as to how we can use this to enhance our lives and am very resourceful when new situations present themselves .
Kathy Waite Saskatchewan Regina fee only planning retirement income specialist.