In ten years...
Ten years from now, I hope that this website can continue to be a useful resource for those interested in money management and investment. Effective saving and investing will become even more important as the population increases and resources are spread thin. In the United States, the strains of the Social Security system will cause fewer workers to support each retiree. Undoubtedly, there will also be more sources that provide information on this topic to serve the public. My readers will expect clear, concise information that can help them achieve their financial goals in an effective manner.
Manner of Accessing Information
For most of my readers in ten years, I expect them to access this information in vastly different ways. The proliferation of high-speed mobile devices like cell phones and PDAs will cause a revolution in the ways that people access networked information. I believe that at least half of my readers will see my content on a small device, with a small screen and likely touch-screen interaction instead of a keyboard or mouse. As a reuslt, I will need to make sure to cater to those needs. I will need to create separate mobile sites that are easily accessible from a small handheld device.
Money Management
In terms of money management, the way people that spend and keep track of their money will change dramatically in the next ten years. People will likely have computer tracking for every transaction, and credit cards will comprise a larger percentage of transactions. Even cash may have RFID or some other type of electronic tracking mechanism. Even bank statements will become more powerful, as they tell the person exactly how much they spend on different categories of spending, such as consumption, investment, and savings. With all these new powerful tools in the consumer's grasp, I will need to create new types of content on money management, such as interactive forms and movies, in order to stay ahead and remain a valuable resource.
Newspapers and Magazines
In addition, newspapers will be all but extinct in ten years. Newspapers that help investors, such as the Wall Street Journal, will not exist in a physical form. There may still be online articles, but one will not be able to purchase the paper at a newstand. As a result, there will be a larger number of people searching for stock information and advice online. I hope to cater to this need by improving my site to the point where people see it as a valuable reference for their daily investing needs.
Advantages of Cardinal Money Management
There will of course be services on the internet that teach them how to invest, but my website has a distinct advantage. It is free. Since I plan to make money off small unobtrusive text advertisements, I will not need to charge my readers for the service that I am providing. Of course, I am not a professional market analyst or broker, but my suggestions will steadily improve over time since I will pursue a career in finance. I believe that my advice will be taken seriously due to my experience in the field, and that the fact that the information is free will attract many users.
Human Touch to Investing
Of course, in that time computers will have evolved enormously in terms of speed and capabilities. There may be software that can help a person analyze his money management habits and the performance of various stocks in order to help him invest. However, the human touch will still be more valuable, because a person with experience can consider many different factors that a computer will not be able to. For example, it will not be able to judge public perception of a company's performance in much more than a superficial and artificial manner. Because of this human advantage, my website will continue to be valuable to people in ten years.
Risks and Conclusion
There are many risks to my business in this brave of world of ten years in the future. Technology may have evolved so fast that my services are no longer considered necessary by my readers. However, I believe that I can succeed by watching new developments in my field closely, and adapting rapidly in order to stay ahead of new technology advances. This vigilance will require time and dedication, and will be funded by revenues from advertising. I am confident that my website can survive and even thrive ten years from now if I remain focused and determined to keep it going.