Got Ya. It’s going to be a crazy ride for the rest of 2020 and most of 2021, and lots of people will have advise to offer. But you should consider advice, and keep your money, stocks and real estate locked. (This is only an opinion, not advise !) When the dust settles there will be confusion and opportunity. Still you need to be careful about the advise you get and the advice you receive, there will be less retail employment, more software employment, swings in gig and service employment. Manufacturing will use the Covid-19 experience to shrink people employment and move more to Bots or close, there will also be a consolidation in manufacturing and distributing sector.
The upside will be the large number of employees taking early and regular retirement. This will open employment up for a few, not the many. The era of Big North American manufacturing is over, we are moving to service, software and finance. These industries employ technology, people with the know-how and those with the ability to self-finance to take advantage of the service offerings. Government employment might do most of the heavy lifting, but this can cause problems for our currency, if the Government gets too heavy. Now about winning financially after covid-19, who knows.
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The chase starts when you are young and discover what money can purchase, along with how it can change your life. If all you learn at that stage in life is that you need money to enjoy a better life, that’s the first fork in the road. Do you go into the world as a self-starter, creating your own income or do you go into employment, with the hope to be paid what you believe you are worth to achieve your desired lifestyle. Some are lucky to enjoy the Golden Spoon of a Corporate Family, owned by a family that can offer opportunity. For the others, which is most of the population. The chase starts before the sun is up and it never stops.
The Suits will tell you never chase money, create a personality or item that attracts money to you. Honestly. I think it’s the same chase. In the end, meaning when old-age setin and causes an adjustment in your pace of life, you would have what you have. Now the big question: What was the chase for ? The chase of money is to secure you and your lifestyle, financially. To make sure you can live an active, healthy, enjoyable retirement. Not a dependent, stressful, home to home drifting retirement. If you were a member of the F.I.R.E movement ( https://en.wikipedia.org/wiki/FIRE_movement)you can understand the importance of planning ahead, it’s ideal to start early enough to take care of your health and plan your lifestyle into old-age. Retirement is not about getting old, it’s about living good into old-age. Retirement is not about getting enough from the Government programs, as not to burden your family. Retirement is about planning, travel, healthy active living and enjoying family.