I remember reading Average is Over and A Fairwell to Alms just when I first started working. They convinced me that labour power was going to decline precipitously. I stared saving 60+% of everything I made and putting it into index funds. Anyone making a good salary should attempt the same. Much of white collar work is extremely amenable to automation, much more than even truck driving:https://en.m.wikipedia.org/wiki/Moravec%27s_paradox
Maybe comparative advantage will save the day, but I think it is a really good idea to start accumulating capital, even at today’s valuations.
Maybe comparative advantage will save the day, but I think it is a really good idea to start accumulating capital, even at today’s valuations.