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How to build a financial safety net

by M Edman

Created on: July 22, 2007   Last Updated: February 19, 2010

One's first question regarding this topic might very well be . . . Is it a net or is it a a parachute that one actually needs?

By that I mean, and I'm going use symbolism here, are you a person who has long ago taken off and are presently soaring at altitude, perhaps even on auto pilot? Or are you still on the ground, building your airport, working high up on the sides of the control tower?

Are you trying to get things prepared for a takeoff, or are you sipping champagne and enjoying the scenery from on high?

These are two completely different scenarios, as far apart as east from west, with each requiring it's own very specialized safety precautions. And yes, there are definitely gray and overlapping areas betwixt the two, and obviously the precautions taken must be tweaked here and there to adjust for such middle sky.

I could, of course, now move on into the details as to how one should be properly covered by insurance, well diversified in their investments, and secure in the nest eggs that they are socking away for retirement. Yet aren't we all, generally speaking, already familiar with this simplification?

Such information, important as it is, is usually situation specific, and any attempt here to lay it out as applicable to one and all would not be that individually helpful. I gladly leave these educational and intimate features to the appropriately trained specialists. You will quickly find that the available choices open to you of sound financial pilots and assorted flyways are quite numerous and readily accessible.

My attempt here is only to impart and leave a lasting visual impression that is absolutely essential . . . That if one is to protect family and self, they must procure and install some working model of a reliable parachute or safety net.

Failures, falls, and crashes occur unexpectedly. Be prepared beforehand with a survival plan. Seek out wise counsel and listen carefully to your ground control and your pilot. Though you may assist, do not try to fly solo here, for the weather often turns quite stormy and dangerous, especially for the novice or the overly proud.

Follow closely the architect's design, that your airport be smartly laid out and constructed so as to best utilize the existing winds. Stay within the proper flyways and flight plans, that your craft be protected from mid air disaster. Think, and "actually plan" for the unthinkable before it is suddenly upon you.

Keep in mind, there is wisdom in the counsel of many and there is safety in the diversity of resources. And yes, it is perfectly OK to also seek that greater counsel of the One who guides all things.




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