I expect that my daughter will grow up in a world where income growth will be even more challenging. I expect that long term (and perhaps even medium term) careers with large corporations will be long gone. Careers in high paying professions such medicine, engineering or the sciences may be outsourced to Asia. Knowing this, we will need to prepare her to be more innovative, more adaptive and more strategic during her working lifetime. I expect our daughter will need to make choices and decisions about work that her parents never faced.
On the other hand, where there is uncertainty and change, there is always opportunity. If we can prepare her to see and take advantage of new opportunities, we will have been successful in one aspect of parenting.
For more on Crossing Generations, check back every Thursday for a new segment.
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This is not financial advice. Please consult a professional advisor.
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