We’ll see a lot of change in these new “roaring” twenties. The roaring, though, may be the pace of that change rather than the amount of fun everyone has.
I’m still counting on fun, personally.
One group that may be having more fun is women. That’s because they’re gaining wealth faster than men, to the point that by 2030 women will own more than half the world’s total wealth.
That’s a bigger deal than you might think, according to Wharton School professor Mauro F. Guillén. He highlights it as one of the most important trends in his book 2030: How Today’s Biggest Trends Will Collide and Reshape the Future of Everything:
These momentous trends spell massive changes not just for society but also for capital markets, because women are different from men when it comes to investing; for companies, because women bring different perspectives to the workplace; and for innovation, because women are increasingly becoming entrepreneurs.
The entrepreneur part is especially interesting, as Generation X is already the most entrepreneurial cohort. Plus, we’re right at the age where most successful businesses are started:
Generally speaking, the study showed that a 50-year-old entrepreneur was almost twice as likely to start an extremely successful company as a 30-year-old, and a 40-year-old entrepreneur was more than twice as likely to found a successful startup as a 25-five-year-old, and a 60-year-old founder was three times as likely to start a successful company as a 30-year-old.
This is good news for Gen Xers regardless of gender. But it stands to reason that a lot of those businesses will be run by Gen X women. And with the youngest of our tribe just entering their 50s by 2030, that’s a whole lot of productive time for an economic shift due to our tough-as-nails ladies.
There’s more. Women are doing more personal investing and wealth management these days, and they tend to be better at it. As Professor Guillén puts it, “The era in which most of the wealth was generated by men, owned by men, and managed by men is nearly over.”
Women also spend money differently than men. They make investments in education, healthcare, and insurance more readily, and not just for themselves, but for their children and grandchildren as well.
So is the fast increase in women’s wealth accumulation leading to a large transformation of the economy? Absolutely. Remember that spending on education, healthcare, and insurance account for about 30 percent of the American economy. As women accumulate more wealth over the next decade, those parts of the economy will benefit from increased spending.
Men should welcome the shift to greater economic equality. It’ll certainly keep us from becoming complacent, and may lead to more opportunities to find the right co-founder. Especially if they have all the money, right?
And, not to put too fine a point on it, women tend to outlive men by about seven years in the developed world. So if we’re looking to build wealth as opposed to simply passing it on to our better halves, we guys need to take better care of ourselves.
Here’s the main takeaway — the shifts coming this decade will be challenging for many. But if you understand the economic changes that come with fewer babies being born, the graying of the population, and the rising wealth of women (just to name a few), you can make smart economic moves no matter what your gender.
We came home from school every day to an empty house and did our homework. What about remote work could possibly be hard for us? I’ll tell you what — my own kids being around all the damn time. Other than that … no problem.
Low, Low, Low, Low, Low, Low, Low, Low
If you’re worried about your knees, I feel that (literally). Low impact exercise is easier on your body, and your joints will thank you. The subhead is either a reference to Flo Rida’s massive hit “Low,” or the number of reps a low-impact workout requires.
The ketogenic approach to eating is confusing. The most confusing part is whether it actually works. Those who swear by it will tell you there’s a right way to do it that actually does work. So let’s start there.
Dealing with COVID for more than a year has many checking their careers with a new perspective. Research estimates that 46% of the workforce is planning some type of career pivot. Check your head with this career change checklist.
Down below, Trudi reveals that our age group doesn’t mind if you do a J, dude. Plus, a shout-out to DMX in the Flashback.
P.S. Share this issue of Further with friends, and earn cool Further gear. It’s easy … just use these links that contain your unique referral code:
Is Marijuana the Secret to Living a Long, Happy Life?
By Trudi Roth
I recently attended a Clubhouse presentation where cannabis industry experts discussed how to reach their most desired audience, represented by a persona they called “Forest.” In her early 40s, she lives in Portland, Oregon (where pot is legal) and is busy raising kids, working full-time, and supporting her aging parents.
Forest also has chronic back pain, insomnia, and anxiety, so naturally, she’s perfect as a budding client. While much of the conversation felt like blowing smoke, I loved that for once, someone passed the dutchie to Gen X.
A recent study found that although we’re just 20% of the US population, we account for 30% of lawful cannabis consumption. And a majority of us (65%) are for legalizing it, not criticizing it. That said, as natural skeptics, we’re smart enough to weed out the blunt truth about cannabis.
The ABCs of THC
First, the basics: cannabidiol (CBD) doesn’t get you high because it’s non-psychotropic. Tetrahydrocannabinol (THC) is the chemical responsible for the psychological effects.
This is why currently hemp-based CBD is legal in all 50 states. Only 36 states currently allow medical marijuana-based products, and just 16 states and the District of Columbia have authorized recreational pot use for adults.
Still, the flowering of the end of pot prohibition is lighting up opportunities for us to revisit reefer. As epidemiologist William Jesdale points out:
It’s easier to get and it’s also less stigmatized. With less punitive policies and just-say-no rhetoric, people who used in their youth and may have stepped away might have come back, now that it’s not Demon Weed anymore.
In fact, many see pot as a natural solution for various health issues from chronic pain to tremors, inflammation, mental afflictions (i.e., anxiety, depression, PTSD), glaucoma, insomnia, and even cancer.
Unfortunately, this may be a half-baked assumption.
While pot is often promoted as a miracle panacea, the empirical evidence is pretty dank. That’s because marijuana has been classified as a Schedule 1 narcotic since the Nixon White House, complicating and limiting research.
Still, there is encouraging evidence that cannabis helps relieve chemotherapy-related nausea, muscle spasms from multiple sclerosis, some sleep disorders, and certain kinds of chronic pain, albeit modestly. Other studies support utilizing it to treat short-term depression and anxiety, although continued use may worsen symptoms over time.
Plus, as we age and our metabolism slows, it’s important to consider side effects, like dizziness, drowsiness, and interactions with other medications. There’s a free cannabis-trained nurse hotline called Leaf 411 if you have questions.
Still, there’s no need to think pot’s potential has completely gone up in smoke. With cannabis decriminalized in almost all states, it may be high time to explore if today’s grass is greener than we remember it.
Lighting Up Later in Life (New York Times)
DMX – Party Up (Up In Here)
… And Then There Was X, 2000
Party Up (Up In Here) was Gen X rapper DMX’s most successful US single. Unfortunately, X is on life support and in a vegetative state after an overdose and heart attack. Addiction sucks. (YouTube)
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