Back in the early 1980’s when I arrived in America, the land of opportunities, I was picked up from the Los Angeles airport by an acquaintance. I wasn’t familiar with California and it turned out that nor was he. My final destination was San Bernardino where I was supposed to stay with my host family. During my first few minutes of chatting with my kind guide I asked if he knew his way around, at which he calmly responded “Don’t worry, God will show me the way”. It seemed a bit odd to me but I really didn’t take him literally on his words. We were about two hours on the road when I noticed a slight discomfort on his part. After asking if everything was OK with him I found out that we were lost. It was already dark outside so it made sense to me to stop and get some directions or maybe get a map (where was the GPS when we needed it?). Being a young and inexperienced girl at the time I was unfamiliar with the concept of “men don’t stop for directions” so in my mind I kept wondering why we would not stop. Alas, another hour had gone by and we were still figuring out in what direction we were going. Finally it wasn’t until we entered the California desert when we stopped, refueled and got a map. We turned back and after using the directions from the map two hours later we made it to my final destination.
I tell you this because today I often witness people that don’t have a financial plan in place. I have talked in previous posts about an economic crises that most of us living today have not yet experienced. I have talked about the collapse of the U.S. dollar that will impact the majority of the people. I have mentioned the facts of unsustainable debt our government has acquired and I will keep on talking about it because only a very small group of Americans recognize how important it is today – more than ever – to have a financial strategy in place. If you think your retirement account that was invested in financial assets will be intact by the time you retire I highly recommend you revisit the idea. If you think your purchasing power will not be affected by the inflation that will occur – despite the Fed’s attempt to cover it up by delaying its effects – you may want to think twice. Bottom line is that one must prepare in advance and the time is now, when we still can make sound decisions with a clear mind, and not when it’s too late.
I will conclude with a thought that will hopefully blossom in your mind. Think “Hard Assets”, real tangible assets such as precious metals and real estate. In my next post I will discuss in more detail the “why, how, what, and when” of those assets for a better understanding. Until then consider this “food for thought” and never underestimate the power of knowledge.