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We can see it in our towns, and we see it in our own shopping habits: all types of shopping continues to move online. What does this have to do with retirement? Devin and John explore the interest ways that changes in technology may impact your later years.
First, let’s consider how technology can help seniors stay in their home. Tools like the Amazon Echo can eliminate the need to physically go to stores to make purchases, and can also help with basic actions like turning lights on and off, changing thermostats, and locking doors. Good and services can be delivered in a convenient and efficient manner.
Looking at changes from the investment perspective: The changing shopping environment may impact your investments in all sorts of ways. Investment in these new technologies may provide solid returns. On the other hand, investments in physical retailers and certain types of real estate may do poorly. It’s definitely worthwhile to consider what the future might look like when you’re selecting your investments, because changes in the economy may significantly impact your retirement portfolio.
Some economists think that the Amazon effect will curb inflation. Customers have more power to keep prices low because they can effectively comparison shop. Lower inflation is useful when you’re in retirement because it makes it easier to make your assets last without having to be in more aggressive investments.
It’s so interesting how things evolve, and watching how this e-commerce has changed so many things. It makes you wonder – what’s the next disrupter?
- How dying shopping malls (and growing churches) might increase your property taxes
- Devin shopping for jeans
- Why Amazon getting into a new market is the equivalent of seeing Viking sails coming over the horizon
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