BUCKLE UP

“There is a mysterious cycle in human events. To some generations much is given. Of other generations much is expected. This generation of Americans has a rendezvous with destiny.”

Franklin D. Roosevelt, 32nd President of the USA

If you are younger than I, that is below 60, then you are of a generation from which much will be expected.

I am a member of the baby boomer generation, which may eventually come to be remembered as the golden age of western civilization. The promise of the post World War II future is gone, squandered by my generation on vanity projects and the conceit of man, believing that we know so much that we are masters of all we see.

These miscalculations have created a deficit that the young will now have to pay. The bank account is seemingly full but the cash flow is poor. The bills are mounting.

So far, the twenty-first century has seen disasters of biblical proportions. I think things are going to get worse before they possibly get better. This is because we have established a momentum; with each crisis, we have reacted in ways which have created further crises. I do not know that different reactions would have left us any better off, but the reality now is that we are accelerating the frequency and types of crises with which we deal. The challenges ahead are massive, perhaps the greatest faced by Homo sapiens.

Having said that, this is not a doom and gloom message. To the contrary; chaos creates an abundance of opportunities, you just have to be ready to recognise and exploit them.

To navigate this new reality, and possibly to prosper in the new environment, you are going to have to build a fortress with a moat and drawbridge. Within your walls, you will need to have most of the necessities for survival and you will need a system for venturing out to resupply. You will also have to become skilled as a diplomat, negotiating cooperation with other fortresses and selecting people who are exposed to find safety within your walls.

Those of you who are familiar with me will know that my priority, the thing on which all depends, is your health. Health is not the absence of disease nor is it the presence of medicine, it is the use of natural substances to promote your immune system, optimise bodily functions, and slow the rate of degenerative conditions. Find out more about protecting your health here.

There are four areas over which I think you will have to achieve some mastery for the future.

DEBT: Debt is a burden which will dominate your decision making. There is some debt which is necessary, which we will discuss later, but there are some to be avoided. Credit card debt for consumption is to be avoided. Use a debit card attached to an account with actual money to pay your bills and buy necessities and luxuries. If possible in your area, open a bank account with budget management tools (such as Monzo in the UK) and use these tools

to manage your money. Student debt is also a long-term problem which will force you into decisions that may be against your interests. As you look to start higher education, further your education, or retrain, be careful about taking on debt to do so. Look for grants, scholarships or programs funded by business or government, try not to borrow. Firstly, set aside an amount, preferably out of easy reach, and forget about it. What remains is what you have to live off. Shelter and food are priorities. In my experience, eating healthy is cheaper than eating in the generally accepted way. My personal mantra is “nada nuevo”, nothing new. Second hand is cheaper and friendlier to the environment. There is very good quality available from specialist second hand stores, charity stores, or online from Ebay, Amazon, and other mostly regional players. There are inexpensive new things available, but these typically do not last. Long term debt to access major assets is a good way to use debt. This is best used to secure assets which last a long time and generally appreciate over time such as land or a building, which may include a house under the right conditions. A car, while it may be necessary, is not usually an asset. It typically depreciates very quickly, and incurs costs to maintain.

INVESTMENT: Do you remember that money you have been setting aside? You need to put it to work for you. The easiest and maybe safest way is in a savings account at a reputable bank. In many places there are Credit Unions and Building Societies which allow you to save

with goals in mind. The Stock Markets around the world are, to my mind, in for a fairly rough ride. This does not mean they should be avoided. If you are willing and able to invest in stocks, look for an expert, with good standing, who will pool your funds with others and diversify the stocks you own and so minimise risk. In the USA, UK, and Canada, these are known as Mutual Funds. Check the history and the fees for a track record of performance at reasonable costs.

INCOME: None of the above will matter if you do not have money, which you will need to earn. Starting out, the safest approach is to have a job and to follow up with a side hustle. While the gig economy is challenging to make a full time living from, it is great as a side

hustle. I have been on many Lyft trips, and the vast majority of my drivers have a day job and supplement with the gig. Tellingly, most of the drivers were immigrants, which brings me to the immigrant mentality: resourceful, hard working, humble. They hustle and do what is necessary to achieve their goals, and often excel.

VALUES AND ATTITUDES: You will have to examine your belief system for suitability and decide which of the values and attitudes you grew up with are no longer suitable for the environment in which you find yourself. You may have to eat at a foodbank, sleep in a hostel,

or work as a labourer. You may be worse off than your parents and not be able to see the way out. It is important that you do not despair, that you do not turn to artificial substances (drugs) to dull the pain. Those who can set and hold their goals firmly in mind, who can put aside their pride, who can recruit their minds to work with their bodies to accomplish those goals will make small steps, leading to bigger ones. These are the people who will get through this period and arrive on the other side, confident of their future.

Dudley ‘Tal’ Stokes is an athlete and entrepreneur representing Jamaica in 4 Winter Olympic Games between 1988 and 1998. His 14th place finish in the Lillehammer Olympics remains the best ever achieved by a black man. Through speaking, coaching and writing he continues to influence and inspire others. He can be found @ dudleystokes.com.