From time to time I dive into Wired magazine for it’s various and sometimes accurate predictions of the future.
If you’ve never read it, It’s a tech magazine and covers all things technological.
Back in the mid 90's before most people had ever sent an email (and most were still oblivious as to what the internet really was) wired was already predicting a time when everyone would have a network connected computer in their pockets.
Crazy also to think that today’s mobile phones are hundreds of times more powerful than the desktop computers of that time.
Over the years WIRED has made many predictions of the future… Some have come true, others… Like sending smells over the internet missed the mark completely.
“WIRED repeatedly proclaimed, the revolution would bring an era of transformative abundance and prosperity, its foothold in the future secured by the irresistible dynamics of bandwidth, processing power, and the free market.”
And from my point of view – that’s exactly right.
Back in the 90s if you wanted to get accommodation for a holiday, you’d be booking into a hotel.
Today AirBnB alone take over 28,571,438 bookings a year and growing.
And that’s just AirBnB, there are others: Stayz, VRBO and others…
To me it seems like not only are we in an era of “transformative abundance and prosperity”, but this coincides with an age of geographical freedom.
With so much work being done online because of the “dynamics of bandwidth, processing power, and the free market.” It means more and more people have become free of geographical restraints when it comes to earning money.
On the one hand, it means there is a generation of people living a kind of geographical arbitrage, getting paid in USD (or whatever) but living in Asia where the living is cheap.
While others are moving to areas like Byron Bay, which traditionally doesn’t have a lot of employment opportunities.
Byron and indeed this whole coastline is packed with people who are entrepreneurial. Running online businesses, working online, or even freelancing.
There is a migration to “lifestyle locations” and property prices and opportunities are skyrocketing. I find it inspiring and exciting.
I regularly come across people who are buying property because they are making so much money, they practically HAVE TO buy property just to help with their tax situation.
For me having a strong commercial property portfolio is a great way to invest the money you make as it supplements your income for the long term.
If there’s one thing I know from being the age that I am, it’s that things change.
Right now it seems like new opportunities are flooding in at an ever-increasing pace, but I still like the security of having cash flow coming in that I don’t have to work for.
Remember if things are changing all the time – especially in the digital world where the pace of change is more rapid than anywhere else, the opportunities that seem amazing today could be replaced in 2 years by something else.
If you want to disagree with me on this point please comment on my Myspace page.:)
On the other hand the world of commercial moves much more slowly. 5,10 even 20-year leases are common and mean that you can lock in a consistent income for a big chunk of your life going forward.
That doesn’t stop you jumping into new arenas and grabbing new opportunities… It just makes them less mission critical that you get it right and don’t make any mistakes.
Having a solid passive income gives you the opportunity to “play’, have fun and explore opportunities that really inspire and excite you.
..And I always think: If you’re having fun doing something, your chances of success are much higher. So get your foundation locked in, then go have fun…
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