5 ways to protect yourself from automation in the workplaceby Rob Thomas Digital marketing analyst and blogger outreach exp
Automation is coming and it's coming fast. According to the world economic forum, automation will be at 52% by the Year 2025. This means that human jobs will become scarce than ever. Being big on automation means big profits for big corporations. Just think about it, robots do not take lunch breaks, they don’t get sick, they don’t get pregnant and they can work around the clock. For the rich companies, the Amazon’s of this world, it's all about profits. But for the regular person, it might not be such good news. Jobs will become more scarce, and huge pressures will be placed upon the average household.
What can you do to protect yourself?
I don’t see automation reversing and I don’t think you will have any control over it. So let’s look at what you can do to protect yourself from self driving cars, robot warehouse pickers and smartenders.
1. Clear your debts
The first and most crucial is to get yourself of the debt trap. You must start clearing credit cards and loans as and when you can. Prioritise all high interest debts first and make overpayments where you can. If you can get out of debt, you will save faster. If you can save regularly you can start to invest and this is where your money will grow.
2. Be frugal and save money
One of the most important contributing factors toward their success claimed by a large pool of self-made millionaires is their frugality. You must ‘tax’ yourself by saving and you must live below your means. Fancy designer clothes, lavish holidays and living the Instagram lifestyle can all wait. You need to sacrifice now so that you can be years ahead in the future. Cut out buying lunch at work, drop the eating out twice a week and start stacking your cash.
3. Learn How To Make money online
to learn new skills. The brick and mortar world is ever dwindling and internet
usage will continue to soar. It’s time to take action now and learn how to make money online.
There are many methods ranging from selling on Amazon to starting your own
blog. The key is to choose which is best suited to your personality, skillset
and tolerance for risk. But the important thing is to start now. The world of
making money online has created many millionaires ad if you apply yourself, it
can be you too.
4. Make your money work for you
Once you have cleared your debt you can save and once you can save regularly it’s time to put that money to work. There are many options for investment so you should take your time to study the different classes of investment. The S&P 500 yields slightly over 10% per annum and has done for decades. There are also mutual funds, ETF’s, peer to peer lending and commodities such as gold and oil. Property investment can be a great asset class. It provides monthly income as well capital appreciation. Putting saved money into property can really compound your wealth over time.
5. Think about things that the robots can’t do
Robots can make cars, they can pick and pack products, soon they will drive and they will before long they will be serving you your favourite cocktail at the push of a button. If you have a driving job, it’s time to re-think your future. If you operate machinery then perhaps you should start your side hustle now. What robots cannot replace is personality and for now they cannot effectively communicate with other humans. They can also not have experiences. So try and think what things you can do that fit this category. Start a blog, invest intelligently, start a consulting business, help first time mums, get creative, there’s not much time.
Created on May 12th 2019 16:19. Viewed 202 times.