Tuesday, March 24, 2009

Don't let the Economy Dictate Your Finances

Yes, the economy is changing. Should you be alarmed? Yes and no. If you are reading this and over fifty or sixty years old, you may be seeing your portfolio taking a nose dive to somewhere south of the equator. If that does not scare you I don’t know what will.

Even if you are only thirty or forty years old, a sudden drop in your retirement funds can make the sweat pop up around your eyes. What is a seasoned or new investor to do? The answer: not much.

I for one do not want to live day-to-day with changing rules. I’d be restless all the time and stressed out. The good news is that I have never bought into the world’s economy and I never will. The only economy I invest in is God’s economy, and thankfully, it stays very consistent. 

The rules today are the same as the rules yesterday. Wouldn’t it allow you sleep better at night if you knew that no matter what news was announced in Washington yesterday, the rules of investing and handling your money never changed?

They never change for my family. No matter what happens in the world’s economy the same rules still apply. Getting out of debt and staying debt-free is always a good idea; in a good economy or bad. Investing for the long-term is always a good idea as well.

Never let a few people who did not apply common sense principles to their business practices determine your course of action.

No comments: