In 1930, Americans’ top concern was administering justice, followed by prohibition. Unemployment was only the 18th concern but rose to 4th by 1931 and became the top concern by 1932. Were Americans blind to economic inevitabilities or struggling with hindsight?
Surprises shape our world, from the Great Depression to COVID-19. Considering what unexpected events could change the world or markets in 2025 is useful. If few see these coming, then few are prepared. If few are prepared, then the impact will be amplified. For investors, these events create both risk and opportunity.
People often ask Jeff Bezos what he sees coming. He turned an online bookstore into one of the largest and most successful businesses in the world. He must have an incredible intuition for the future, right? Bezos responds that he doesn’t know. He is only certain that in the future, people will want low prices on all the goods they buy. That is where he focuses.
This list is a good place to start with financial truths. I recommend an intentional effort to follow them.
- If you don’t know where you want to go, any path will do. Decide what you value and where you are headed.
- Money isn’t the most important thing, but it can do a lot of good.
- You can spend what you save, but you can’t save what you already have spent. Set goals. Save first.
- “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” – Albert Einstein
- Minimize your taxes. Arthur Godfrey said, “I’m proud to be paying taxes to the United States. The only thing is, I could be just as proud for half the money.”
- Create experiences and build friendships.
The world often seems to be hanging by a thread. Focusing on what we know can be more helpful than worrying about what we do not see coming. Warren Buffett was driving through Omaha in 2009 when a friend asked how we would bounce back from the economic devastation. He answered that Snickers was the top-selling candy bar in the 1960s and the top-selling candy bar in 2009. It is now 2025. Guess what the top-selling candy bar is now? Snickers!
Buffett knows people will continue to like Snickers. Bezos knows they want low prices. We know it, too. And we know that billions of people will continue to solve problems and work to make the world a better place.
*Inspiration and Source: Morgan Housel, Same as Ever, 2023.
Listen to a deep dive into these unchanging truths on the Power Up Wealth podcast.
