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Our culture’s psychology today is not doing well.  People are absolutely panic stricken. Everything they thought was true about money is being turned on its head. Seemingly rock-solid institutions have collapsed.   Average affluent individuals have lost 25-50% of their net worth in the last year, and many have of course lost far more.  These are people who seemingly did everything right and were following the rules–diversified portfolios, thoughtful weighting of risk vs. return, etc.  So what do we do now?

How do we instruct our children moving forward - what common sense are we to use to build the future we want to live?

• First - Careful, thoughtful and responsible choices. If we learned anything, could be we consider not only what we want but what might be lost and do research and investigate our options more thoughtfully.
• Second - The cry of the ages, save more & spend less. We now know the purpose of savings and lots of it, maybe the US savings rate will stay up & we will discover we not only like it but will live more peacefully doing it.
• Third - How about a responsible plan that gets reviewed often and followed rigorously until following it becomes a habit.  This could curtail some of the out-of-control emotional spending.
• Fourth - Let’s create additional sources of income, passive income so we don’t have to rely 100% on an ever evolving career or job.
• Fifth - Design our children’s education system to include basic financial literacy then support it with practical applications and examples from the parents who follow those very principles.
• Sixth - We could also look for others in our communities who needs support and work with them in ways that transfer the skills that come from the unique experiences we each have from our lives.

In the coming posts, I’ll discuss & develop each of these a bit more.

What do you think?

Danno. . .

For most of my life I hated insurance.  It Seemed to me to be a lot of expense for noting of value.  Well, this changed.

I was riding my motorcycle, slowing to an intersection stop sign & out of nowhere a car with a beginning driving, made a left turn directly in from of me with no time to react.  I picked myself up 50 feet on the other side of that car & long story short, insurance, mine & theirs, paid the bills for about 5 years.  The amount they paid in claims replaced what was broken and would have paid my insurance premiums for the next 26 years.

I’m married, have raised 3 wonderful healthy children, and after they all left home, breast cancer came to call. it’s appearance produced a life of background stress and worry for 2+ years.  While we learned to produce the positive outcome and life we wanted instead of that which so many fear, the bills were paid.  Other than the uncomfortable “power surges” as my wife calls them, (hot flashes) that linger, my wife is now 5 years beyond recovery & celebrating the victory of a lifetime.

 You guessed it, insurance paid for all that, sums equal to 3.5 years of my income at that time, and in my late fifties, the biggest earning years of life, I was paid very well.

 Take it from me, let the companies who can afford to take the risk, pay the bills, you pay the premium, a small cost for shifting the risks in life?

What do you think and do you have a story to contribute?

Ten Guaranteed Steps to living a life you love while Profiting From The Current Economic Conditions!

As we approach the end of yet another year, simple reflection makes a big difference in the quality of life.

 ONE

Take care of yourself - physically, mentally, & emotionally by taking care of those around you.  Surround yourself with positive energy and conversation.

TWO

Use the financial skills you’ve learned to budget, manage cash flow so you spend less than you earn, then save for reserves and your future.

THREE

Do not take yourself or your circumstances to seriously.  Live your life with the Mantra “This too shall pass” - Life happens in unavoidable cycles, expect it.

FOUR

Review all insurance and investments against your plan for their performance and make calculated sensible choices, not emotional, panic or fear driven reactions.

FIVE

Debt management - Acquire appreciating assets that generate income in excess of their cost - credit card balances paid in 30 days or don’t use them - Look for discounts to preserve cash then put that savings away.

SIX

Stay close to family & friends - every day make 5 people feel better after being with you than before - take the time to listen, then teach other how to feel as good as you do.

SEVEN

Be healthy - calories in, calories out.  Pay attention to your body when eating, not the emotional urge to eat.  Exercise to control fatigue, stress, and metabolism - Walk, talk, and breathe to reduce stress & eliminate illness - If you get flu shots, time to get them.

EIGHT

Keep a positive aspects or appreciation log, write in it several times daily.  You will discover you have a lot to be grateful for.

NINE

Without Integrity, nothing works.  Maintain a context for living your life that excites & empowers you and then every moment concentrate on living inside that framework.  Be whole and complete with yourself and others.  Do what you say by when you say you will - It makes all the difference.

TEN

Celebrate accomplishments both yours and others, large or small.  Teach and remind others to do the same.  Remember, an accomplishment is something you declare.  There are no rules, other than self imposed, for what an accomplishment is.

According to an ancient story there was a king who was continuously torn between happiness and despondency.  The slightest incident would cause him great pain and upset and turn his happiness into disappointment and despair.  The king finally got tired of his situation and began to look for a way out.  He sent for a wise man in his kingdom who was reputed to be enlightened.

When the wise man came, the king said to him “I want to be like you.  Can you give me something that will bring balance, serenity, and wisdom into my life?  I will pay any price you ask.”

The wise man said “I may be able to help you but the price is so great that your entire kingdom would not be sufficient payment for it.  Therefore, it will be a gift to you if you will honor it.”  The king gave his assurance and the wise man left.

A few weeks later the wise man returned and handed the king an ornate box carved in Jade.  The king opened the box and found a simple gold ring inside.  On the ring there was an inscription that read This Too Will Pass. “What is the meaning of this?” asked the king.  The wise man said, “wear this ring always.  Whatever happens, before you call it good or bad, touch the ring and read the inscription.  That way you will always be at peace.

In these times where every direction we turn reveals an abundance of bad news and sadness, you and I must remain centered on our dreams and the possibility that the future holds for all of us, and it certainly does.  This will cause the direction and results we seek.  To continuously engage with bad news of course will replicate that in your life as well.  Guard carefully the thoughts you think.

May I recommend you read this and more in A New Earth - Awakening to Your Life’s Purpose by Eckhart Tolle.  Life happens in cycles and as intense as this one is, the upside which is on its way will certainly be quite AMAZING!