Risky is the New Safe | Randy Gage

Summary of: Risky is the New Safe: The Rules Have Changed . . .
By: Randy Gage

Introduction

In a world where disruptive change is impacting every aspect of life and work, Risky is the New Safe challenges you to approach the transformations the modern world has to offer with a sense of opportunity instead of fear. This book summary emphasizes the importance of anticipating upheaval, being aware of obsolete business models, and embracing technological advancements. From anticipating the next big shifts in mobile technology to adapting to the changing nature of education and the workplace, the book guides you on how to thrive in the face of uncertainty and the evolving global economy.

Embracing the Disruptive Change

The modern world is experiencing a massive transformation, and adapting to change is essential to thrive. In the face of widespread upheaval, following trends is not enough- it’s crucial to anticipate what is coming. Getting ahead of the curve means taking calculated risks based on informed decisions. Technology has rendered many jobs and industries obsolete, and obsolete business models are unsustainable. Governments cannot protect individuals from change, and loyalty to a company is no longer a guarantee of job security. Mobile, social media, and apps are transforming all aspects of life, and sitting these out is not an option if you want to stay competitive. The bottom line is that playing it safe is the most inadequate way to protect one’s interests. Instead, the best strategy is to embrace disruptive change.

The Opportunities of Crisis

Crisis presents opportunities for those who think like a contrarian. Technological advances will create new ways to make money, but the key to success lies in how individuals use those tools. The new economy will value ideas above all else, and adapting information, social media, and e-commerce to mobile technology is the next big revolution. Savvy entrepreneurs will find immense opportunities in creating content for virtual reality games and online experiences. As governments devalue currencies, the values of precious metals like gold, silver, and platinum will rise. In this changing landscape, businesses must adapt or risk being left behind. Ultimately, success will come to those who prioritize innovation and understand the fundamental shifts occurring in our economy.

The Global Economy and Your Wealth

The global economy is on the brink of collapse due to mismanagement, corruption, and unsustainable entitlement programs. Traditional financial advice is inadequate. To avoid financial ruin and capitalize on opportunities, individuals must diversify their assets globally, invest in tangible assets like real estate, gold, silver, and platinum and allocate their portfolio in “no-risk/low-reward,” “moderate-risk/moderate-reward”, and “high-risk/high-reward” investments.

The author argues that governments worldwide are running Ponzi schemes and mismanaging budgets, resulting in a sharp divide between the rich and the poor. More people are receiving money from entitlement programs than contributing to them, and faith alone supports currencies. For individuals who depend on the government for retirement, a rude awakening awaits. Traditional financial advice from bankers and accountants who make less than you do is no longer adequate. Instead, diversification is vital to ensure the safety and growth of your money.

The author suggests that to shield yourself from financial ruin, you should allocate your portfolio into “no-risk/low-reward,” “moderate-risk/moderate-reward,” and “high-risk/high-reward” investments. Diversify your assets globally, invest in tangible assets like real estate, gold, silver, and platinum. Along with that, do not keep your assets in one currency or one country. Instead, invest half of your portfolio in guaranteed bank deposits, 25% in real estate and equities, and the remaining 25% in “high-risk/high-reward” speculation to capitalize on opportunities.

The Need for a New Approach to Education

The current state of the Western educational system is problematic, with its emphasis on rote learning and outdated curriculums. To prepare young people for the modern economy, education needs to focus on developing critical thinking skills, curiosity, discipline, and the ability to think independently. College curriculums need to be aligned with the needs of the contemporary workplace, and businesses must invest in their employees and become more accountable to them. High Point University in North Carolina offers an example of how an experience-based education, internships, and study-abroad programs can triple enrollment rates. Students must take responsibility for shaping their own educational paths, combining traditional and non-traditional sources for training. As the desire to succeed and be recognized becomes more prevalent, the education and information industries will flourish, and companies will have to become smarter, more agile, and less risk-averse in their approach. Technology is a crucial component of this shift, as it allows people to tackle complex problems more effectively and enhance their daily lives.

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