Summary of The Truth About Your Future

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Rating 

9 Overall

9 Applicability

8 Innovation

9 Style

Recommendation

Author and financial adviser Ric Edelman says that if you want to benefit from impending momentous changes, you must absorb their implications into your worldview and your investment strategy. New and growing “exponential technologies” will affect your life, calling for fresh  planning to deal with a new paradigm that has potentially thrilling, disquieting and unfathomable outcomes. Edelman accessibly guides you through the financial impact of robotics, machine learning, nanotech, life-extending medicine, financial tech, and more. He considers the “dark side” of each technology and describes how transformative disruption affects your money management. Edelman predicts the future without equivocation, trusting technology’s impact. He says your lengthy, liberated, joyous future depends on long-term, progress-fueled “compound growth.” While never giving financial advice, getAbstract recommends his comprehensive, organized and cautionary guide to all those planning their financial future.  

In this summary, you will learn

  • How “exponential technologies” will generate phenomenal growth;
  • Why, despite risks, they can transform your financial planning and your quality of life; and
  • How to invest strategically in a dynamic portfolio that is prepared for the future.  
 

About the Author

Ric Edelman heads Edelman Financial Services, a consultancy and asset management firm. His personal finance manuals include The Truth About Money and Rescue Your Money.

 

Summary

A New Future

If you’re going to prosper in a future where you could easily change careers, never retire and live healthily into your 100s, your finances need a reboot. Most people think “linearly,” that is, they see progress as a steady continuum and deny the implications of fast change. Instead, you need to think “exponentially.” Exponentiality generally applies to money in the form of “compound growth.” Pure exponential growth would turn a penny into $10 million in 31 days. Only late in that time frame – when it hits the “knee” of the growth curve – would you notice its sudden near-vertical trajectory. This pure form of growth also happens in information technology (“infotech”), where “knowledge grows exponentially.” Today, exponential growth in nanotech, artificial intelligence (AI), machine learning, 3D printing, biotech and big data is changing the world.

Comment on this summary

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    Diana Guerrero 2 months ago
    The summary was really helpful to most people but I like the way how the author summarized the different aspects of the future.
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    Kelly Plessala 2 months ago
    The summary was helpful in gaining additional insight and recommending to evolve for a more successful financial future.
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    Chong Park 3 months ago
    I like the way of how the author has summarized the different aspects of the future.
    Better to be prepared.
    Thanks for the summary, GetAbstract Team.
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    Ashish Agarwal 3 months ago
    A confused book/ summary; seems like a hodge-podge of buzzwords desperately weaved together to drive home an equally vague idea - financial planning in/ for future. The author seems to have no understanding how various social and technological changes are affecting/ will affect human life in the near/ long term.
    • Avatar
      Chong Park 3 months ago
      Ashish, from ex Macquaire?
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    Sergio Turin Revoredo 3 months ago
    excellent look towards the financial future, which we have to develop NOW

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