It would be nice to think that we have complete control over our own lives. It just ain't so.
We have no control over the economy, banks failing, companies going bankrupt, downsizing and lost jobs, government regulation, taxation. In NYC, we are feeling extreme pain right now with Lehman Brothers bankrupt and AIG in deep trouble. Our local economy is more affected by Wall Street turmoil than anywhere in the country. Those lost jobs and businesses will send more families into turmoil and financial difficulties, more foreclosures and decrease the tax base by probably 12%, which impacts our schools. These kind of events we can simply try to prepare for proactively and react to as effectively as possible. For this reason, for my family, I favor building internet and real estate businesses outside of my job to build passive income so I am less dependent on my paycheck. This strategy is working much more slowly than I hoped, with a steep learning curve but it is a beginning.
We only control our own actions in our lives. Fear is a natural reaction to chaos but I notice that when I am most afraid, I lose all resourcefulness. I want to go to bed and pull the covers over my head. I have felt depressed and in despair at times where I had no idea where to turn. In that state, I have no idea how to dig myself out of financial challenges. If I can hold myself calm (meditation works), I reach out to other people for solutions, negotiate with and continue to act congruent with my values (buy organic, volunteer and donate, grow passive income, build businesses, meditate and learn). Sometimes it works and sometimes not. I know what I aspire to but don't always do it. Go figure... I'm not perfect, just human.
