How To Thrive in This Economy
Scary news reports seem to be coming out every day. Many analysts are now saying that this recession (when will they start calling it a depression) will last into 2010. Other analysts are telling us to brace for a hyper-inflationary period. It is easy to find ourselves paralyzed with fear or indecision. Now and again over the last year, I have found myself unable to move forward with future plans. However, I finally found a way to overcome that fear, and move forward with my proactive plans for the future. Here is what I did in three easy steps.
1. TAKE RESPONSIBILITY
Seems that wherever I turn, I hear people looking for someone to blame. The politicians are blaming the CEO’s. Taxpayers are blaming the politicians. The CEOs are blaming the borrowers. Where does it end? I’ve made the decision that in my life, it ends with me. I will not rely on a big corporation to provide me with a pension. For that matter, I will not rely on my government to take care of me during my retirement either. It is my responsibly to take care of myself and my family. The very first step is to stop looking to the government, a corporation, or a boss to solve your problems for you.
It is also time to stop looking for a guru or a financial planner to make your financial decisions for you. Take it upon yourself to become educated about money and make your own financial decisions.
Once the decision has been made to take responsibility for your own finances, it can be a lonely road to navigate. Where do you begin?
2. MAKE TWO PLANS
Begin with laying out a plan. Actually, lay out two plans. Make a plan for preservation. This is your safety net if things go really bad. What will you do if hyperinflation hits? What will you do if the deflationary period continues? The nice thing about the plan for preservation is that once the plan is in place, it doesn’t take much extra time or effort to follow through with the plan. Once the safety net is in place, it is time to focus on your second plan – the plan for prosperity.
“In Chinese, the work “crisis” is made up of a combination of two characters. The first signifies “risk.” The second stands for “opportunity.” – Jim Rogers A Bull In China
Start focusing on the opportunity that exists all around you. Once you open your eyes to opportunities and make the decision to focus on them, you will start to notice them all around you.
3. SET GOALS and MASTERMIND
Now that you have your two plans in place, set some goals – and join a mastermind group. Your mastermind group will not only help hold you accountable for your goals, but they will also help you troubleshoot, find additional resources, and generate new, bigger ideas to help you reach your goals.
The economy can seem scary… but it is only scary if it feels out of control. If you make the decision to take control of your own destiny, the scary feeling will go away, and be replaced with an excitement and optimism for the future.
Tags: Economy, great recession, hyperinflation, mastermind group, recession
