Friday, June 29, 2012

How to Keep Your Wealth - Beware the Financial Earthquake

Have you ever wondered why some buildings crumble during an earthquake while others remain standing ?

Do you think some buildings are built better than others ?

The answer yes, it's all in the construction !

The Financial Earthquake

We all know what devastation an earthquake can cause because it is reported all over the news. Sensationalism sells, the more widespread the better.

The financial earthquake happens more in the shadows and will rarely ever be reported on. This is simply because there is nothing to show, nothing to cause a sensation. Merely dwindling savings accounts and a few bankruptcies, hardly anything to report on.

However, if not properly prepared, a financial earthquake can happen to anyone. The sad part is no one else really cares.

How to be Prepared

Just as the astute contractor builds a solid foundation upon which to build their building, so too should the average individual. Without a strong foundation, the financial earthquake can happen at any time and when least expected.


                                                                 The Quake Zone

A few examples of the financial earthquake are as follows. The loss of a good paying job or career. The loss of one's home. The collapse of a good quality investment. The loss of one's health. The loss of a loved one.
The loss of a good credit score. Plus many more.


Components of your foundation should include all of the following. Insurance for everything that matters in your life. An emergency reserve of up to six months expenses. An ongoing savings plan to ensure your building keeps growing. A solid diversified base of income producing investments. Well thought out wills and powers of attorney to ensure continued growth for future generations.

All of these foundation components are described in greater detail in previous posts on this site. Explore them now to ensure you have every corner covered.

Without a proper foundation, you could well become a victim of the financial earthquake. Avoid being a part of the rubble by preparing yourself today. If you fail to prepare, no one else will really care. This I guarantee.

As always, I welcome your comments and suggestions for future topics.

PS  To All Readers !!!

During the summer months, I generally take more time to reflect and will likely be writing less often. Please take this time to review this entire site for all you have missed. I would also really appreciate your comments on any of the topics. Remember, I am writing this blog for you. Please let me know what you would like to hear about in the future.

Have a Great Summer !!!

Richard Lyons

No comments: