Is Ai stealing your jobs? Today we discuss how Ai is impacting the job market and inflation. We also highlight the states where people are having a lower percentage of struggle with household expenses compared to other states. We also share possible concerns about the potential negative impacts of universal basic income and the future of work. Join us today we talk about all of this and more! Today we discuss...
- Some states have lower percentages of adults struggling with household expenses compared to other states.
- The states with fewer adults struggling are mostly liberal, while those with higher struggles are predominantly conservative.
- Conservative states with high welfare dependency often criticize welfare systems despite benefiting from them.
- The debate over Universal Basic Income (UBI) continues, with concerns about its potential to cause inflation and economic issues.
- AI's impact on job markets is significant, affecting both creative and technical professions, and may lead to existential questions about purpose and employment.
- Social Security, Medicare, and pensions are projected to face financial shortfalls in the coming decade.
- Receiving steady, high pay without working can reduce stress but strain the labor economy, leading to higher job prices.
- Employment data has been frequently restated, revealing that many jobs are part-time or in government sectors.
- New regulations create more government jobs to enforce them, even though the original data was already accessible.
- There is concern that AI's ability to predict the future might be limited to avoid impacts on markets and other areas.
- Centralized platforms, like Google and social media, may manipulate information to shape opinions and influence outcomes.
- Building personal AI models could help avoid manipulation by large corporations and governments.
"Cash is not trash... Cash is King" - Kirk Chisholm
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Today's Guest: Kirk Chisholm
Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.
Kirk developed a unique philosophy for the wealth management industry called Risk Management First. The medical field has a similar way of thinking of “first do no harm”. This philosophy focuses on risk management for clients in all aspects of their lives in ways the industry does not address. Risk management does not stop with investments. It also requires working closely with other professionals to address areas of their financial lives not currently being met.
In 2008, Kirk co-founded Innovative Advisory Group to address the needs not being addressed by the wealth management industry. It started with specializing in alternative assets held in retirement accounts (i.e. self directed IRAs/401ks). Then the company expanded into the specialization of college funding (i.e. planning, strategy, and paying the least possible for a high quality education), Risk Management First, exit planning for business owners, advanced planning (estate, tax, etc), and providing practice management and leadership training to other financial advisors, accountants and attorneys.
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Today's Panelists
- Kirk Chisholm | Innovative Wealth
- Douglas Heagren | Pro College Planners