Welcome to the New Roaring '20s
Updated: May 28, 2021
Greetings, Wellness Warriors! Have you ever heard the saying: history is bound to repeat itself? Well, get ready because I predict we are about to witness history repeat itself—up close and personal.
Many different factors in play have created our current worldwide circumstances—the end of a pandemic, emerging new technologies, a transportation revolution, political divides, international conflicts, and a bull market.
To us, the pandemic is unprecedented. We have never experienced anything to this scale in our lifetime, but there are remarkable similarities between now and a time not too long ago. Between February 1918 to April 1920, the Spanish Flu came in four waves. It killed tens of millions of people around the world and infected more than 500 million people in total. In the decade following, the economy soared, society prospered, and the world celebrated survival.
History Remembers This Period as the Roaring '20s
Those who were fortunate to survive the Spanish Flu had been living in fear for over two years. They experienced unimaginable suffering in a time when hospitals lacked the technology to help people who otherwise may have survived today, and vaccines took far longer to research and develop. Overwhelming relief, mixed with gratefulness and hope, were the catalysts that sparked the roaring '20s. Everyone's motto became, “Live life to the fullest.”
Think of the Great Gatsby era. People were in desperate need of socialization. They wanted to dress to impress, celebrate life, and to be seen. It was an age of wild parties, high fashion, shiny automobiles, and prohibition.
Fast forward to today. Do you see the similarities yet? We were forced into an environment where we had to slow down. For once, we had time to reevaluate life. Coming out the other side, we desire things that we once took for granted. We have begun to desire human interaction over isolation. We finally see the light at the end of the pandemic tunnel, and we are emerging with a new way of thinking.
I predict that we will see a mindset shift and a lifestyle we have never seen before. After surviving a global pandemic, money will be used as a vehicle to live for today to take advantage of being alive.
To give you some perspective, the average American's savings is usually around 6% of their yearly income; in April of 2021, it was 14%. That's more than double what the expected savings would be! All of the money people have saved throughout the pandemic has primed the pump for the next roaring 20s. People are going to take that trip they have always wanted to take, buy the car they have always wanted, and purchase new homes. Once people start spending, those savings will avalanche down the mountain top and slide into the economy.
If the pandemic has taught us anything, it is what we should invest in and what industries are in the highest demand. Once the avalanche of capital hits the town, the stock market is going to continue to skyrocket. I'm not saying to go and buy stocks tomorrow; in fact, for those who are new to investing or have a low-risk tolerance, my advice is to stay away from buying single stocks and to instead invest in bonds, ETFs, and mutual funds. However, for those with a higher risk tolerance, there are a lot of companies that the pandemic has catapulted to the forefront or forced to advance more rapidly than was expected just two years ago, such as at-home medical services, supply chain logistics, or medical technology.
I invested in a telemedicine company called 98point6 because I know how badly at-home medical services are needed. Through the pandemic, the hospitals were overrun, and 46% of admitted patients were seniors. The goal of 98point6 and other at-home medical services is to offer a solution that keeps seniors in their homes and out of the hospital. If they can get their dialysis, blood tests, or diabetes care at home, it greatly decreases their risk of going into a medical facility.
Many of these emerging at-home medical therapy companies offer wearables as well. Continuous glucose monitors allow people with diabetes to simply wave their glucometer or even their smartphone over a sensor in their arm to get a real-time glucose reading. This avoids needless finger sticks for drawing blood, which decrease sensation and increase the possibility of infection that some patients would previously have done five or more times a day! The latest Apple Watch has the ability to check your oxygen saturation levels and perform simple ECGs several times a day.
The expansion goes even further than just medical services, though. Soon, nearly every service will have the option to be completed or enjoyed from the comfort of your couch—grocery shopping, entertainment, education, fitness, beauty services. This reminds me of a book I read in the early 90s called the Popcorn Report. Faith Popcorn wrote about what she called "cocooning" and predicted that eventually, people would do everything in their homes. Just 20 years later, the future has arrived.
We have already moved so far in that direction that it's essential to recognize that shifts have taken place, so that we are ready for the new world as we emerge from our cocoons. Pay attention because what happens over the next few years will be a fascinating period of our existence.
Until next time, Live Well, Live Long!