Just ran into this quote-it’s becoming more true, every day:
“Life is what happens while you are making other plans.”
In the 21st Century, assumptions that are required for prudent analysis of our future financial security, and the attendant recommendations, becoming much harder to stand behind. Someone famous once called these “known unkowns”. Consider the following:
- Geopolitical risk
- Theological/religious conflict
- Terrorism
- Vastly increased mobility and ability to change domicile/vast refugee migrations
- The emergence of global citizens not tied to specific nationalities
- Globalization of Trade vs. Inceased Protectionism
- Currency fluctuations (often expressed in martial terms)
- The digitization of work and commerce and everything
- Automation of professional services
- Technology and the Internet
- Digital privacy, security and Cyberwarfare
- Increased Longevity
- Changing gender and sexual identities
- The rise of new family models, and single parenting
- Clones, Biology, and DNA: who qualifies as a descendant?
Of course this list could go on, and we will discuss other variables as we go forward. The counselor for 21st century clients will have to change the nature of their service model and their pricing to remain relevant.