The World Economic Forum estimates AI will replace 85 million jobs by 2025. What is the UBI Program?
Eighty-five million jobs will be lost by 2025 because of AI. Here are ten questions you can ask yourself to help you prepare for the massive financial change that could be headed our way. At the end of this article, the Universal Basic Income is discussed.
So, where do you fit in this massive global financial shakeup?
1. Are you moving to Mexico or another destination where the cost of living is much less than in the United States?
2. Are you thinking about what services or products you can provide or sell to put food on the table?
3. Are you considering growing food in the backyard or on the balcony?
4. Are you writing down a list of recession-proof ideas to earn extra income?
5. What about your expenses? Can you find ways to lower your monthly expenses?
6. Are you considering splitting your house and renting the other half to help pay the mortgage.
7. Are you thinking about bringing the entire family together, including adult children and grandchildren, to live in one household?
8. Are you thinking about setting up a glamping suite for you and your family, just in case you are not able to pay the mortgage or the rent?
9. Are you considering trading your sports car in for an RV that can sleep six?
10. Or will you ignore the situation and this article and keep spending and living like nothing will change?
The good news is Congress is unofficially discussing a Universal Basic Income plan.
"What Is Universal Basic Income (UBI)?
Universal basic income (UBI) is a government program in which every adult citizen receives a set amount of money regularly. The goals of a basic income system are to alleviate poverty and replace other need-based social programs that potentially require greater bureaucratic involvement. The idea of universal basic income has gained momentum in the U.S. as automation increasingly replaces workers in manufacturing and other sectors of the economy."
Many people believe corporations and companies should reimburse society for the loss of jobs. If these ideas were to be implemented, corporations and companies would pay a formulated amount to the government to help fund the Universal Basic Income program.
