I’m betting on a tech-led revival

Experts predict positive growth over next decade How would you feel if I were to ask you about the future? Are you optimistic, worried or simply unsure?

For less than 1% in fees, you can own a slice of the best-known global firms

Last week, in a conversation with a client, I expressed how excited I am for the future and what I feel will happen.

Many have struggled financially during the pandemic and the cost-of-living crisis and need to seriously review where they are to survive.

Others have done somewhat better, thriving on working from home and saving thousands each year on travel, work lunches and new office outfits.

At the same time, we’ve all not been able to spend as we would have otherwise done – interest rates and the rising costs of mortgages and energy have become, in some cases, unmanageable.

But these times will pass and in our economic wheel, one person’s spending is another person’s income so I believe our future purchasing power will help make the next decade a period of new growth.

Impressive new technology is no longer a novelty – it’s expected by us all.

My 81-year-old mother uses FaceTime and my 97-year-old father loved trying out Oculus VR, where he took a virtual reality trip over the Alps.

ChatGPT, below, an artificial intelligence language bot that can generate text in response to user-inputted prompts, has passed parts of postgraduate coursework in business, law and medical programs. The AI “chatbot” was able to achieve pass grades in parts of the US Medical Licensing Exam, four courses in law exams and another from Wharton School of Business.

And we are also entertained by technology.

I recently went to see the Abba Voyage avatar show and it was incredible. I honestly could not tell the difference between the humans and the avatars.

This is just the start of what we can expect to make our future brighter, easier and healthier.

From electric cars to AI and virtual and augmented reality, the technology that’s in development now makes me excited about what we’re likely to see happen over the next decade.

Imagine combining avatars and ChatGPT – we won’t be left waiting for GP appointments, and this is before you even consider the green revolution. But how can we benefit from this boost in the economy and ride the wave into the next decade?

Well, it’s never been easier for investors to participate in the growth of the world economy.

When I started investing in 1995, my account was handled over the phone and I had no online access.

Today, for less than 1% a year in fees, you can own a slice of some of the world’s best-known companies from Apple, Amazon and Google to Tesla, Johnson & Johnson and Visa.

These are just some of the giants that make up the MSCI World index, which includes stocks from almost 1,600 companies across the developed world’s economies.

So, if you’re thinking long-term ( five years or more) and are looking for a straightforward investment strategy, don’t bet on Bitcoin, Brexit or any single one company: bet on the world. It’s all we’ve got.