We all took a collective sigh of relief when we eluded the fall from the financial precipice almost 20 months ago. We all want to believe that the worst is over, but we all know that’s not true. It can’t be. We were about to fall off of a precipice not roll over a speed-bump, or speed cushion as some refer to it. If we have learned anything from hiding our heads in the sand for the last fifteen years, it’s that wallowing in denial cannot possibly end with the end we have in mind. So, no, no-one wants to scare anyone, but maybe we need to be scared into changing our mindset and our actions. Mind you this will be a difficult process, it’s a little like downsizing when your kid goes off to college and you feel some pain giving up a lot of what you love and have held on to for ten maybe twenty years, what you believe to be your right. In this vein, Rick Newman’s articles on How to Plan for a Double Dip Recession and 6 Strains on Your Financial Future are definitely worth a read. It's time to do some long-term planning, with the new-normal in mind. What your opinion?
"No matter who you are, making informed decisions about what you do with your money, will help build a more stable financial future for you and your family." Alan Greenspan