PWFO – learning: technology and jobs.

Uncategorized Aug 26, 2019

"50% of what we teach you over the next five years will be wrong, or inaccurate. Sadly, we don't know which 50%." This is a phrase which often gets aired at the welcoming lecture to medical schools.

It is true also of what our education system has become. It is not entirely in tune with the reality of the job market. However, what we have is still a must for every child for their primary and secondary educations.

It is post-secondary where it is becoming more complicated as technology is dramatically shifting the order of things as we knew it; much faster.

If we consider the jobs market that we want to prepare our children, then we need to understand with them, how technology is transforming the business landscape.

With acceleration in technology, the transformation to the business landscape is major and affects everyone; though some changes are minor others are at a reasonably large scale. In some sectors, the whole process of business has changed, and in other cases, entire...

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Learning new skills is not enough to stay ahead. We are now encouraged to unlearn old ones.

Uncategorized Aug 22, 2019


PWFO – learning and unlearning!

For centuries education has taken millions and possibly billions to a better life. Society has continued to educate, form and train new entrants into businesses and the job markets based on what succeeded in the past.

The acceleration of digital transformation means that the goal posts continue to be moved and the problem is that we do not even know what the medium to long term future holds for any of us.

But the reality is that those who have been successful throughout history had figured out that to succeed they needed to continuously learn new ways, unlearn old habits, use technology wherever there were benefits to be gained. They did not wait for management gurus to tell them this……………………they just knew.

In fact, Darwin was spot on when he wrote "It is not the strongest of the species that survives, nor the most intelligent. It is the one that is the most adaptable to change."

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PWFO - Financial literacy with compassion to all!

Uncategorized Aug 21, 2019

The mission of the Private Wealth and Family Office is Financial Security for all through education and training.

 To-day is very important (Christians celebrate Easter - when Jesus rose to heaven, Jews celebrate Passover when they were freed from slavery, and coincidently this year Moslems celebrate Shab-e-Barat which means the night of forgiveness, or Day of Atonement when one can ask forgiveness for sins).

 Also sadly, earlier this week, we all saw or read about “an edifice built for the glory of God which also represents the unity of the human spirit” (The Economist) caught fire and was partially destroyed. Notre Dame de Paris.

 It made me think what will be the point of Financial security if there is nothing for our children and ourselves to enjoy from what nature gave us and to what our ancestors and leaders built.

 Many have shared posts of dying babies, famine and destructions around the world through conflicts or just ethnic cleansing. Or...

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PWFO - Financial literacy to all!

Uncategorized Aug 20, 2019

The mainly capitalist system that most of us know is showing signs of weaknesses. The investor class enjoys ever increasing return whilst others see their own labour decline. As this sense of unfairness and growing inequality create tension and political extremism, many, specially the youth with fewer promising jobs, question the current model and doubt the institutions will look out for them.

As education took millions out poverty, financial literacy to all from the bottom up will lead to more wealth being created.

Those at the lower end of the system needs “financial education more as low-income consumers must make complex financial decisions even more frequently than middle- or high-income consumers, given their smaller operating margins and their limited and irregular incomes.”

A study carried out by “United Nations Capital Development Fund” “Making Access to Financial Services Possible initiative” found that “In Lesotho and Swaziland,...

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Private Wealth and Family Office Association – financial literacy!

Uncategorized Aug 19, 2019

 Whilst we debate about how the financial system is creating more divisions, how money is not everything, the reality for each problem we face is probably based on finance.

We can be philosophical and think about a better world or we can be wealthy and make a better world. How we spend more than we need to and create indebtedness in this consumer market is often an indicator of limited financial literacy.

The top 10 Most Financially Literate Countries according to the S&P’s Global Financial Literacy Survey are: Denmark/Norway/Sweden/Canada/Israel/United Kingdom/Germany/Netherlands/Australia/Finland (list a).

When one compares that list to the World Happiness Report

(a United Nations Sustainable Development Solutions Network, 7 nations are among the top 10 in both list and the 3 remaining which are on list a still falls within the top 20 happiest countries.

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Private Wealth and Family Office Association – achieving financial security through financial education.

Uncategorized Aug 16, 2019

Following on from last week blog, an experienced Financial Advisor, commented on my post to express that quotes containing the secrets of the rich are actually quite simple and sweet.

He sent me his 3 rules to becoming rich:

  • always be an owner and not a loaner,
  • don't buy milk, own a cow,
  •  it's not what you earn, it's what you keep

(Richard M. Kiernicki)

Whilst owning a cow may prove a challenge; specially convincing your partner and elder members of the family; the young ones no doubt will be excited. (A joke was building up but I will refrain from thinking it out). We know he does not mean it literally.

I will elaborate on Richard’s advice next week.

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Private Wealth and Family Office Association – achieving financial security through financial education!

Uncategorized Aug 15, 2019

With acknowledgement to G.E. Miller

What if…

… personal finance was taught in school so that all children could have an example of the right things to do versus modelling the wrong ones based on the current model which seems to be stalling?

…what if parents struggling with looking after their loved ones, young and old, with  spending and debt could challenges easily get free advice from someone who had previously overcome those problems?

…the rich entrepreneurs among our communities with empathy for others could sit and talk with someone who had worked hard their entire life, but still struggle because of bad luck and harsh realities or sheer pressure of the consuming world?

…hundreds of millions of present and future world citizens could more easily discuss and learn how to consume less and save more so that they could live richer, fuller lives?

We would all benefit. Wasteful consumption habits will plummet, this weill reduce our burden...

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Private Wealth and Family Office Association – achieving financial security.

Uncategorized Aug 14, 2019


Education and determination are the keys to success in this new world. Success means different things to each one of us. Whether it is health, love, being extremely rich or being able to spend hours medidating, modern living happily implies being financially secure.

An important part of our waking hours if not the most, are spent working or running our businesses trying to make money so that we can improve our personal finances.

If you are already financially secure for life: great. If not and you are still working, let me share with you what I learned from the super rich whom I served for many years.

  1. During the ‘earnings’ part of your life, save the maximum realistically possible.
  2. Protect your savings and place it so it grows and ends up becoming sufficient to meet your lifetime cash flow requirement.
  3. Recalculate your “post earnings” life time cash flow requirement and what you want to pass on to match what you have saved.

Financial planning to...

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Private Wealth and Family Office Association – The Future of Jobs

Uncategorized Aug 13, 2019

Following on from last week about jobs, this report by WEF on the future of jobs tells the full story. One extract reads "the skill sets required in both old and new occupations will change in most industries and transform how and where people work."

Whilst "updating labour policy to match the realities of the Fourth Industrial Revolution"  is for legislators, "tackling improvements to education and training systems" is for each and every one of us to invest in.

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Private Wealth and Family Office Association – Family training and development.

Uncategorized Aug 12, 2019

Winnie Byanyima, Executive Director of Oxfam is right when she says that "quality jobs" is a key challenge for world prosperity.

MacKinsey Global Institute (GBI) found that there is a global job market caused by globalisation and technology.

As it was the advanced economies that invested in new technology that led to the creation of new thousands of millions of jobs and took these un-employed out of poverty, they also created high-skill positions mostly at their top end.

So after 4 decades of globalisation, (GBI) summarises the world job market as:

  • shortage of between 38-40 million of high skill workers,
  • surplus of nearly 100 million low skill workers around the world and
  • shortage of 45 million medium-skill jobs in developing economies.

So at the low and medium skill level we have jobless, millions more in vulnerable employment and millions of workers globally live in extreme poverty.

But at the top end, fortunes increased by $2.5bn (£1.94bn) a day while the bottom half of...

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