Friday, October 24, 2008

World Financial Crisis

You can’t miss all of the scary news about the financial crisis. It’s on TV, the radio, the web and even in your snail mail. It’s not just a problem here in the US, but is a world wide phenomenon. It started off as a problem with the credit sector, but it has mushroomed out into the entire financial world, moving from Wall Street to Main Street, from America to Zimbabwe. World wide the markets fell about 9% just today according to USA Today.

Ok, Zimbabwe’s financial problems have a different source than America’s, but you know what I mean. So the real question is what are you going to do about it? How will you be affected? And what can you do to be one of the survivors? I guess being a survivor isn’t so bad, if you don’t mind the sleepless nights, the panic in line at the store wondering if you have the money to buy the milk and the 20 point rise in your blood pressure. Personally I’d rather thrive, but I’ll take survival as the first step.

If you’re like me, you’re one of the little guys. You don’t make ecinomic policy, and you don’t have billions or even millions to invest in some market transforming ideas. You just want to know how to keep your car, your house and your job. Well you might like to kick the job, but only if you knew you had something better. So what steps can you take to be sure you are one of the survivors?

Let’s start with knowledge. Some will tell you that knowledge is power, but knowledge is really only potential energy i.e. theoretical ability to get a job done. Power is the rate at which something is done and knowledge by itself doesn’t do anything. So Power is really the SPEED of ACTION. You need knowledge to be able to take effective action, but you only become powerful when you take action.

I can’t take action for you, but I can help with knowledge that if you choose to act on will move you in the direction you want to go. Financial freedom doesn’t have to be just a dream, it can become your reality.

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