For the past two years the economic crisis has held the world hostage.
Many people who thought they had safe, secure jobs now are struggling to find any jobs whatsoever.
Millionaires have gone bankrupt overnight, unemployment is soaring and people are concerned about the future – and for good reason.
Each day we read in the newspaper or hear on the news that the stock market is booming and compared to where it was, things certainly do look good.
But sometimes things are not what they seem.
We’ve all heard the expression “the calm before the storm” in many ways that’s the funny feeling I get when I look at the financial world today.
One thing is for sure, there will be new highs and more crashes to come.
There are those people who say that investing is risky. That you shouldn’t buy gold or silver. That buying a house in this market is madness. That keeping money in the bank is the safest thing to do.
What people don’t realize is that it’s during the tough times that more people get wealthy than any other – why?
Because fear takes over.
Success in such times requires emotional control (because money is VERY emotional), knowledge (to make the right decision) and action (because just talking about something doesn’t mean it gets done).
Which is why the study of fundamentals is so important in life, they give us the foundation on which to build upon.
So what are the fundamentals that allow us to ride out any economic crisis?
- Education
- History
No economic crisis lasts forever, so we need to be prepared for when things take a turn for the better. Jobs will be available, but only for the right candidates.
That means acquiring new skills. And new knowledge.
The biggest mistake I have found is that people wait till they need to do something to start. It’s already too late.
New skills take time. So the best day to get started on improving your better future is today.
Do something. Do anything. But get started.
And get started today.
The other fundamental is history. Mark Twain who once said, “History doesn’t repeat itself, but it does rhyme.”
Our world may change, and new technology may make life seem quite different from years ago but our struggle to survive and succeed on this small planet that orbits the sun has existed for thousands of years.
Studying previous economic crises is something we should all familiarize ourselves with so that we don’t fall prey to the next one.
Another area of study with regard to history is that of those people who have blazed the trail before us.
Henry Ford, Thomas Edison, Abraham Lincoln, Warren Buffet, Richard Branson, Walt Disney, Liz Claiborne, and many many more have their life stories in books. Their struggles, their successes, their thoughts all written down for us to take advantage of.
And yet, most of us choose to put our feet up and watch the latest show of American Idol.
While you might not have a say in what will happen in the world, you can control what you will do with what happens.
In the end, your actions determine your future.
One day this economic crisis will be an entry in a textbook, but for right now, the best thing we can do is prepare for our tomorrows.
Adrian Shepherd