Managing Your Personal Economy During A Pandemic by Chris Koopman

Managing Your Personal Economy During A Pandemic

Christopher Koopman    Contributor: PowerPassionProsperity

Over the past month, our world has come to a complete halt.   People have been forced to close businesses temporarily, work from home, and become teachers in a matter of weeks.  Although this represents some challenges and stress, we can manage to this.   What is more challenging however is becoming sick.   Everything on tv is negative currently.  People are feeling scared, anxiety or even depression, its sometimes hard to see beyond that.   However, WE HAVE TO SEE BEYOND THAT!

Forest Gump was right when he said, “Life is like a box of chocolates, you never know you’re your going to get”.   It’s no secret that we cannot predict what will happen in life, but we certainly can prepare for it.   We can prepare by keeping a positive mindset.  Training our brain to “tune out” negativity, only focus on what we desire, and the outcomes we want to happen.    We can prepare our immune system to be strong, by eating healthy, working out daily, getting sunlight, increasing vitamin D levels and drinking lots of water.   In other words, we can prepare by being proactive, not reactive.

Many today are feeling very reactive to the economic climate, and s stock market volatility.  People almost feel helpless and at the mercy of things out of their control.  For those who are retiring in 2020, a big market correction like the one we just had in March can wreak havoc on their portfolios and jeopardize future income streams.  Having liabilities like mortgages, credit card debt, and other loans can become challenging to pay.

So, what can we learn from this?  I have written many articles for Power Passion Prosperity.  If you have read any of them, you should have picked up on a recurring message about being financially balanced and having a holistic approach to your personal economy.   There is no better time to test these principles than now.  When you are well positioned to weather economic storms, you are prepared, not scared.

Having financial balance does not mean a mix of stocks and bonds.  It means that your entire financial landscape is coordinated together.  It means your areas of Protection, Assets, Liabilities and Cash Flow are working in harmony, so that when a financial challenge comes your way, you and your family are well prepared.   Having financial balance means having liquidity for emergencies or opportunities.  It means that you are protected from every risk that can jeopardize your financial “flow”, such as a car accident, sickness, injury, death, lawsuit and final wishes.   Having financial balance means that your assets are not all correlated to the stock market, so that when we experience a month like March 2020, you still can grow and protect your wealth even as the stock market is crashing.  It means that your liabilities are funded with a contingency plan in case you need to fund those liabilities when cash flow stops suddenly.   Having financial balance means that your wealth creation strategies are still funded, even if you become sick or injured.  It means that your personal economy is still running, even when the world economy might not be.  Simply put, having financial balance is critical to your financial success.

We all hope that this pandemic is short lived, and that life can go back to what we all classified as normal.   In the next coming weeks, as over 90% of America is forced to stay home, it is a great time to begin thinking about your next move and implementing it!   Improve your mental and physical health.   Act, by saying positive affirmations and staying healthy.  Exercise, move, run, walk, do a HIIT workout, anything to get your blood going.  Take time to reflect on your personal habits.  Ask yourself if these personal habits are moving you in a positive or negative direction.   Reflect on your personal economy.  Think about what you might have learned, what you can change, and act going forward!   There is no better time than in 2020 to act on all area of our lives to work on self-improvement.

As the world rebounds, those who are hustling in the moments of chaos will be more productive, more prepared more proactive going forward than ever before.

I am the president and founder of Statera Wealth Solutions, Inc.   We focus on sustainable wealth building solutions for those who want to grow and protect their wealth.  Our modern perspective challenges outdated conventional financial wisdom, awarding our clients improved financial wellness and less financial stress.

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Material discussed is meant for general informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice.

Trademarks of The Guardian Life Insurance Company of America (Guardian) are used with express permission. © 2020 Guardian

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