The Meb Faber Show

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Ric Edelman - “47% of the Occupations in America Will Be Gone Within 15 Years" | #47

E47 • Apr 12, 2017 • 56 mins

In this episode, Ric Edelman joins to discuss his new book and the evolving landscape of financial planning. Ric highlights how technology is reshaping longevity and employment, emphasizing the need to prepare for future career demands and advancements in medical science. He explores the shift from traditional employment models to investing and the importance of digital estate planning. The conversation touches on behavioral coaching, the rise of robo advisors, and how longevity affects retirement planning. Ric also shares insights on financial education, starting a modern advisory firm, and memorable investments. The episode concludes with thoughts on the future of technology, book recommendations, and resources for further information.

Key Points

The future will see a shift from a linear lifeline to a cyclical one, where individuals will frequently change careers, go back to school, and take extended sabbaticals.
Advancements in exponential technologies such as neuroscience, nanotechnology, and bioinformatics will lead to longer, healthier lives, making traditional concepts of retirement and nursing homes obsolete.
Investors need to adjust their portfolios to include more equities and focus on companies built for the 21st century, as many traditional companies will not survive the technological shift.

Follow Ric: Website

Resources: The Truth About Your Future – Ric Edelman ROSS (Robotic Lawyer) The New York Model vs. The Hollywood Model CRISPR DNA editing tool Morningstar Exponential Technologies Index Blackrock iShares Exponential Technologies ETF Vanguard: “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha” – Kinniry, Jaconetti, DiJoseph, Zilbering, & Bennyhoff Morningstar: “Mind the Gap” – Russel Kinnel Edelman Online RIC-E Trust “What if 8% is Really 0%? Pension Funds: Investing with Fingers-Crossed and Eyes Closed” - Faber

Speakers

Meb Faber

Host • 33%

Ric Edelman

Guest • 66%

Chapters

0:00	Introduction and welcome to Rick Edelman
1:15	Rick Edelman's new book and the future of financial planning
3:34	The impact of technology on longevity and employment
12:38	Preparing for future career demands and advancements in medical science
18:21	Comparing employment models and transitioning to investing
22:44	Digital estate planning and adapting asset allocation for future trends
29:07	The role of behavioral coaching and the evolution of robo advisors
37:03	Introducing the RIC-E Trust and the effects of longevity on retirement planning
43:49	The challenge of financial education and starting a modern advisory firm
50:40	Memorable investments and the importance of financial literacy
53:08	The future of technology and the age of abundance
55:07	Closing thoughts, book recommendations, and where to find more information

Transcript

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