Life As We Know It
How to assess our current situation?
When the health crisis is over and the financial crisis becomes more in focus we are going to offer some gravity to the situation to help you view things in a constructive light rather than a destructive manner.
When accessing your current financial situation it is important to not look at is in a silo:
- Wealth is a relative measurement
- Job security is a relative measurement
There’s a theory that if you take all the money and divide it up between all the people it would end up in the same hands.
If you have been winning at personal finance up until now rest assured when this thing is over you won’t forget:
- How to spend less than you earn
- How to be resourceful
- The discipline to save money and not spend it
Try to imagine you situation if you had not been deliberate with your finances
Should we be concerned about our employment?
Look at how the economy is doing within the town/city you live in, look at how your industry is doing, look at your employment situation through your companies eyes
If you reach out to inquire with your company about coming back ask “how is business” not “when am I coming back”
Given the circumstances it might be time to change your goals (your previous dream and aspirations). Pivot
Re-training — pursue the career path of your dreams
Stigma – laid off, travel
We have a new high water mark — when ever new disaster hits that is below this new high water mark society will expect you to be prepared in every aspect of life
This is a time to figure out what sources of information you can trust in the future
Should we wait for things to get back to normal?
Don’t wait for things to get back to normal because I believe there will be a new normal. There will be i industries and business that will not survive this event. Every business that was operating cove to the financial edge will be exposed and recovery should not be assumed.
Jobs will change, some for the good and some for the bad
For many people in our society they entered this disaster where they highly valued comfort and convinced. When this thing is over they will value safety and security.
Society will not be too judgmental to those who were not prepared for this global pandemic but you will be judged harshly if you are not prepared for the next one.