In the year 2030, you will own nothing but you will be happy, but before you nail to the cross for the statement, it was one from the World Economic Forum (WEF) in 2016 and it looks like we are about to build another breed of poor people to the world.
Where I am living currently, my neighbor who doesn't have a stable job or any at that had to sell his belongings and move to his mom's. If he was the only one whom I have seen this year, I might have said it is life happening to him which can happen to anyone but it is looking like a pattern. We are gradually going into an era where we will be breeding lots of poor people who you might think are rich but they are spending their entire life chasing money with the hope that they will make money to live the next day.
In the years to come, we will be seeing a lot of things and one of them will be people who are not rich even when they are getting a high pay. This will happen because their house payments will be taking half of their income. It is looking like a lot of people will be paying for mortgage that their parents owed because their parents were unable to pay them and so they will pass it over to their children in the guise of inheritance, and the children will not be willing to sell it in the guise of legacy. Instead of keeping the house as an asset, the house becomes a liability that they are not willing to let go off.
When my neighbor packed out of the house, I asked him if he didn't have any money saved up for emergency funds or while he was selling his furniture, did he not look into what could be done with the money since he bought luxury furniture but to my surprise, he was a good gambler and so he did what he taught was wise with the money. I asked him if he had the ability to maintain his current lifestyle for three months if things went south, and he mentioned No. For me, I live a very low life, just enjoying what I need and working to growing my wealth although spoiling myself once in a while but I always ensure that there is an emergency fund somewhere for me. If you do not have an emergency money, then you are one step away from being poor.
In the coming year, people will still take debt. Forget all the New Years resolution that people will make today and tomorrow because they will still go back to their previous act. You do not need to wait 365 days to make a decision just for the next 365 days, so if you know someone who tells you that their new years resolution is to stay out of debt, tell them that they are just a step away from poverty and they will continue being trapped in debt. All they need is one day to make a decision and follow through instead of 365 days that you wouldn't see through.