How Tech Is Changing The Road To Wealth

Cryptocurrencies have had a wild few years now, with stories about fantastic gain to be followed by news alerts of the value completely crashing. With Bitcoin value rocketing to well over $20,000 and crashing all the way down to below $3,000, you can probably guess that this market had a few winners, but many, many more losers.

It’s the attraction of making a quick buck that attracted a load of speculative investors, some even leveraging themselves at significant risk, that further destabilised a shaky foundation. But that’s what you can expect from the newest gold rush, a sudden influx of fortune seekers trying to make it big. Especially in this day and age, with our continuous connected devices, the magnifying (and bubble creating) social media, we all are subjected to this massive fear of missing out (FOMO), as, unfortunately, jealousy (or the risk of having to be jealous) is still a very human emotion.

For some, something like cryptocurrency will be their ticket to riches, but for most, it’s looking to the traditional routes for their road to wealth. But also traditional methods are changing, here are some of those fields.

Real Estate

As always, real estate is a good bet, including luxury real estate. House prices will continue to rise, and this makes something like investing your money in real estate a pretty safe option. That doesn’t mean this wave of technological progress is not affected by the real estate market though. The way people are buying houses is changing, with online platforms now challenging the traditional seller & real estate agent model.

The way mortgages are calculated and approved (at least in principle) is done more and more via AI models. And although house prices are on the up regardless, the smart investors take all these new developments into account to maximise returns.

Investing

You can’t really talk about traditional ways of creating wealth, without talking about the stock market. And if anything, the stock market has not become less complicated. As the companies of the world trade more internationally, so do interdependency becomes more complicated. Micro issues in one country can have a devastating effect on another, which can affect companies’ performance.

This, in turn, means that traders and investors have an increasingly complex tension field to examine and make predictions in. Enter AI, with more and more investing companies placing increasingly more confidence (or their fate) in the hands of the machine, the demand of highly skilled programmers in the finance industry, has exploded.

If you are directly investing or doing so via a broker, keep in mind how this world is now changing from the traditional floor traders to tech-savvy people sitting behind computer screens with advanced AI.

Another thing to keep in mind is that gold, which still has the cachet, is not the most valuable or rare material in the world. Take palladium or platinum, for example, which is used in sophisticated electronics, such as smartphones, which explains the rising cost. Another example of how tech has pushed the world.

Previous post:
Landlord Round-Up

Next post:
How To Find Apartments That Accept Evictions In Dallas