economy, new economy, retirement

“Morning in America…”

I was driving into work today and a Chevy Volt sped by me. Yesterday a Fisker Karma was parked in front of my office. Last month Tesla started mass production of the Model3.

Technology is bringing a renaissance to American manufacturing. New industries and new job descriptions are being created, even as “old economy” jobs become antiquated and outsourced to robots.

Technology is allowing people to use their existing assets in order to bring in more income, such as Uber and Lyft (using the car) and AirBnB (using the house). Websites such as Amazon, Ebay, Shopify and Etsy allow people to open their own virtual shops, without the need for brick and mortar retail space. The internet allows more and more people to connect to influencers and decision-makers, allowing people to earn money as consultants and contractors.

I remember when I was in middle school in the 1970’s, times were hard for my parents… I remember thinking ‘I want a simple government job where I don’t have to worry about things like pink slips, bankruptcy, or how are we going to afford presents for Christmas.’

The irony is after college I found I could not stand working inside an organization like the government. After a month of teaching I already felt the ulcer developing. I left and never looked back…


The truth is fear drives us to limit our options and many, many people today, in America and around the world, are trapped by fear. Many feel that conformity and cubicle wages are the safest path to financial security.

Nothing could be farther from the truth. The world is changing and we as individuals working within an economic system that’s evolving must be adaptable as well. We must become more cautious in our use of debt and credit; we must manage our finances… not let our finances manage us. We must learn new skills that increase our economic value and our potential income. We must become more independent and self-sufficient; we cannot rely on our company to hold the keys to our financial security.

I am no fan of Ronald Reagan (though my parents were). After the bleakness and destitution of the 1970s Reagan used the phrase that it was “Morning in America”. He was right. Through the 1980s and 1990s the economy grew and strengthened; the computer revolutionized business, increasing efficiency and corporate balance sheets.

We are currently experiencing our own “Morning in America”, thanks to technology and innovation. This has NOTHING to do with Trump. The internet is the gateway to entrepreneurship for millions that never would have pursued such a course before. It is my belief that this is going to be the Golden Age of Entrepreneurship.


But in order to participate, we need to change our ways of thinking. We have to plan differently (think long term, how do I become more independent), we need to set new priorities (education, skills building, saving), we need to identify our strengths and be able to creatively monetize them (create multiple streams of income).

Those who don’t will find themselves left behind; financially, socially, and emotionally.

Let me know your thoughts. I’m happy to chat.

If you want to discuss these issues or learn more please feel free to contact me.


Retirement Income. Tax Efficient Planning.

Life Insurance. Disability Insurance

Socially Responsible Investing


To learn more contact:
James Cox
Phone: 610 293 8309
First Financial Group 744 W Lancaster Av Suite 235 Wayne, PA 19087

Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 954 Ridgebrook Rd. Suite 300, Sparks MD 21152. 410-828-5400. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Devon Financial Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.

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