Robots, Rebounds, and Rebalancing—Oh My!

Quick Administrative Updates:

• Investment Account Allocations: Towards the end of this month, we’ll be sending you an update on the current allocation of your investment accounts. While you can check this any day on Altruist.com or RightCapital.com, I want to make sure we have an annual snapshot for your records. This report will appear in your Vault on RightCapital around the end of the month.  It is simply for your information and there is no action that you need to take.

• Tax Reports: I’m also working my way through the tax reports. If you’ve sent me a copy of your tax return, I’ll generate a tax report and let you know if there’s anything to be aware of. Recently, I helped a client correct an error that resulted in over $1,000 in tax savings. In other cases, we’re working to prevent unnecessary increases to Medicare premiums—which can mean thousands of dollars in annual savings. These are just a couple of examples of why taxes are an important part of your financial plan. If you haven’t already sent me your 2024 tax return, the best way is to upload it to the Vault on RightCapital.

Back at Zero

How about some good news for a change? We’re back at zero. And when I say “we,” I really mean the S&P 500. As of this writing on Tuesday, May 20th, the S&P closed up 1% year-to-date. Why is this good news? Your accounts have been rebalanced during this recent rough period. For most of you, that meant we bought more shares of stock when they were cheaper. So as the stock market recovered in the last few weeks, you saw some really good participation.I apologize for the many emails you received regarding these transactions, but I hope you consider that a small price to pay for executing an investment strategy that benefits your long-term financial future.

This also tells me that our economy is resilient. Just a month ago, people in the media were shouting from the mountaintops that “this time is different!” Now, it’s eerily quiet. Maybe it’s a great time for all of us to take a collective deep breath and remember: the world isn’t on the brink of Armageddon. Let’s look at some positive things that may be coming in the future.

Now You See It, Now You Don’t

Have you seen a doctor lately? Chances are, they asked if it was alright to use a voice recorder with AI to help take notes. I’m starting to use this as well because it’s such a time saver and often captures more detail than I typically would. One of the main ways I use AI is as a research assistant—it’s great at finding and compiling lots of data quickly, which leaves me more time for the critical thinking part of the process.Imagine the digital equivalent of a contractor saying, “Bring me all the materials for a mid-century modern bathroom remodel.” The contractor spends more time building, and less time running around town for parts. 

This technology is becoming commonplace, and it’s only the beginning. Just two years ago, ChatGPT took the world by storm. High school students everywhere rejoiced and started “optimizing” their essay-writing process. The internet was giddy with the ability to talk to a computer like a human—any human. Some used it to write Shakespearean sonnets about their dogs; others created custom bedtime stories for their children. And if you’re my wife, you have it write a poem about our love story as a birthday gift.

It started with a black box you type into, which is still the main way we interact with AI. But now it’s on our phones—we can just talk to it, and it talks back. Next, it’ll be able to see what you see in real time, whether through smart glasses or by viewing your screen. Arthur C. Clarke, the famous science fiction writer, said, “Any sufficiently advanced technology is indistinguishable from magic.” And he said that in 1973! I suspect the next step is for AI to disappear into the background, quietly helping with just about everything you can imagine—and then some.

Robots! The Jetsons Were Wrong!

The famous ‘60s cartoon was set 100 years in the future, but the whimsical technology it featured is mostly here now. They were off by about 40 years—it didn’t take until the 2060s! Video calls, smart watches, flatscreen TVs, robot vacuums, moving sidewalks, telehealth and virtual doctors, camera pills, voice assistants—all part of normal life now. Companies around the world are developing self-driving cars, flying cars, 3D-printed food, and humanoid robots.

I suspect that robots will have a big moment this year. Billions of dollars are being poured into the research and development of humanoid robots to do chores and tasks that are either dangerous or unpleasant. Factories in China already employ some humanoid robots. We’re all familiar with the Roomba, which is basically an automated vacuum disguised as a giant hockey puck. But what about robots that can use a regular vacuum just like you do?

Watch this video of a robot that does just that.

What’s next? Cleaning the bathroom, doing the dishes, pulling weeds, folding laundry, and any other household chore you don’t want to do. How much would you pay for this? Right now, these robots cost around $35,000.  By 2035, it could be as low as $13,000.  That could replace a gardener and a house cleaner at a minimum. The prices range from $150–$300 per month for each of these services, depending on frequency and the size of the job. So let’s just say $400 a month, or $2,400 per year. What if you have it walk your dog, guard your house while you’re away, or provide long-term care services? Suddenly, $35,000 one time sounds like a hot deal compared to $100,000 per year at an assisted living facility.

What’s powering this immense growth in robotics is AI. You won’t be chatting to it through a black screen; you’ll simply tell it to take out the trash.

What About Jobs?

All of this will have profound impacts on the types of jobs available in the future. If you still have some working years ahead, or know anyone who does, it’s important to pay attention to this.  Feel free to forward this to anyone who may benefit from it. Take a look at this list of the largest growing and declining jobs by 2030, created by the World Economic Forum.

(The information contained above is for illustrative purposes only.)

If I had to choose, I’d rather pick a job from the green list than the red list. These changes are not only driven by AI; robotics and automation will play a large role as well. Society will continue to evolve as these technological innovations become more widespread and commonplace. As you help a young person plan their future, consider how you can help them skate to where the puck is going, not where it is now. Skills such as creative thinking, leadership, and analytical thinking will be very important, along with a commitment to ongoing learning and upskilling.

(The information contained above is for illustrative purposes only.)

Many jobs will be created along the way to replace the ones that are lost—170 million created versus 92 million lost, according to the World Economic Forum. I think this is actually a healthy way to generally view the future: A lot of change will occur, and some of it will be unpleasant, but there will be more that’s good.

See the full Future of Jobs Report 2025 here.