Why You Need Extra Income – Further Assessment
Estimated Reading Time: 3 minutes
If you think you belong to Middle Class in 99% of the population, You’re In the Vulnerable Status.
Uncertainties You May Face
Uncertainty and fears of social decline and exclusion have reached the middle classes in many societies. The uncertainties in middle class especially in advanced countries attribute to the gloomy job market as follows;
Globalization – Job Outsourcing
The IMF report (Finance and Development, A quarterly magazine of the IMF Vol.45) indicates the massive income transfer to poorest 30% population is happening, means advanced countries job are being outsourced to the developing countries. The higher the income inequality less positive toward globalization, in other words, the globalization spurs the inequality by squeezing middle class jobs.
Technologies – Robot will take over your job
Oxford University research summarizes (for details), among 702 occupations in 12 categories of total US employment, nearly 70% is at high to medium risk of getting replaced by robots over some unspecified number of years perhaps a decade or two. As seen from the chart, the unlikely job is high-end skill oriented job, which is another reason the middle class should worry.
Tax & Social Benefit – Not For Middle Class
Needless to say, the welfare benefit is for the lower class. The principle of the below US state case applies globally.
Do you realize why you as a middle class should worry?
Spare Another 1 Minutes To Assess Yourself Further for Your Long Future!!!
Let’s Examine – Will You Have Enough For Retirement?
If the above assessment shows You’re Falling Short, then It’s Right Time To Start Action Seriously!!