Hey there, welcome to Reinventing.
I get it. Midlife can be stressful.
We either have an elderly parent to care for. Or are financially supporting our children. These are tremendous financial obligations.
Add to that, our ability to continue earning an income is also at risk. This is due to automation, job obsolescence, or changes in business landscape.
The stress and gloomy outlook are found to be common among people around midlife. This phenomenon is what researchers called midlife crisis. But without strong support or professional help, it could spiral into depression.
At two fronts, economic and health, these factors do influence the state of our well-being.
What the experts learned
Life gets better after 50
Jonathan Rauch, Senior Fellow at The Brookings Institution and author of The Happiness Curve, found that life does get better after 50.
Hence the term “Happiness U-Curve.” Because happiness starts to dip at around adulthood, hits rock bottom somewhere around 50, before it turns around.
Which means, what you are experiencing right now is going to change for the better. But it is going to need some work.
Reskilling won’t guarantee employability
We have witnessed people who lost their jobs during the pandemic. The message for those looking for jobs has been to reskill to stay employable.
But with entire industries being reshaped in the ‘new normal’, reskilling isn’t always going to guarantee a new job.
As Gordon Lafer, political economist and professor at the University of Oregon’s Labor Education & Research Center, puts it:
If job training was ever going to work it’s not now.– Gordon Lafer
Reliance on a single source of income
The Oracle of Omaha—Warren Buffett— famously said to never rely on a single source of income. With the pandemic putting millions out of work, we have learned there is no job security.
This is especially so for those who are freelancers or self-employed individuals. By being dependent on a single source of income puts them in an extremely vulnerable position.
Wealth disparity lies in technology
Shang-Jin Wei, Chief Economist at the Asian Development Bank, argues that technology isn’t going to reduce inequality.
In fact during the pandemic, technology has amplified the existence of economic and social disparities.
While technology can theoretically benefit both individuals and businesses, the disproportionate ability to leverage it has created a new dimension of inequality—digital.
You don’t need more information
Truth is you don’t need more information. Chances are, you are already drowning in it. Besides, what’s the use of having the information but not knowing what to do with it.
That’s what Reinventing is all about. It’s about providing you with research-based and field-tested resources to help you with reinventing to stay relevant.
Reinventing to Stay Relevant Weekly Newsletter
When you join us, you will receive an email each week.
Each issue will focus on the best selections on:
- The landscape: how the world has changed as a result of the pandemic, evolving business landscape and consumer preferences, and of course, technology.
- Why it matters to you: we examine why these changes matter to you, both at the personal and professional level.
- How you can take action: we then turn these insights into action advice so you can start reinventing to stay relevant.
The best time to start reinventing yourself was yesterday.
The next best time is now.
Sign up and get started on reinventing yourself because it is not an event. It is a journey.