If there is one universal premise for wealth…this is hard work. And luckily, or not, we all can get our fair share of it. Through hard work, we overcome hurdles that forge our character, and eventually receive money for it. But the best compensation remains that work makes us belong in the here-and-there, playing an active part in the development of our society.

Our society, however, should provide that hard work does not rhyme with hardship. Unfortunately, income generation has increasingly failed to cover basic expenses over the past 20 years. First, income have increased inequally between the top 1% and the bottom 50%, as discussed by economist Piketty. Secondly, healthcare and higher education expenses have skyrocketed. In 2019, these basic needs have become the most important family financial concerns, along with lack of money and low wages for US people.

This is life struggle 101, when even harder work does not increase your sentiment of security and happiness. Of course, this breeds discontent, which is very visible in the mass protests we see rising all across the world. Even in the US, people perceive poor leadership, immigration and racism as the most important issues, showing that scape-goating has become the ultimate temptation.

We all bear the responsibility to reset the clock on those issues. We should provide more affordable education, via vocational training or online courses. Healthcare cost would have to either be more subsidized, or the industry streamlined with (i) a better diagnosis structure to reduce the overload of primary care, (ii) more administrative efficiency, and (iii) cost cutting in care and insurance. As for low wages, just pay more or automate, but far too often we see uber-driving as a third job to make both ends meet.

Such life struggle should end to allow the future of wealth to rise.

360 Advisory – Markets