U.S. Economic Outlook Not So Good: What Can You, The Little Guy, Do?

December 7th, 2007

Is your portfolio safe from economic calamity or the tough times that may be ahead? I’ve been trying to scare you into at least looking into whether or not your portfolio is structured so that you don’t lose everything if the economy was to turn sour for several decades. I’m not saying there will be NO opportunity… there will be plenty of opportunity, but there may be some hardships too! There are several decades of turbulent (lots of ups and downs!) times ahead and if your portfolio is structured wrong you could lose a big portion of your “retirement” fund. Sit down and take a minute to review your portfolio! Even if you don’t agree with me, do yourself a favour and think about what you can do to ensure you are able to provide for yourself and your family.

What Can You, The Little Guy, Do?

Write every U.S. politician you can, several notes a year; I’d actually say once a quarter! Get your friends/family/co-workers to write several notes a year. In the notes detail how you DEMAND that something be done and perhaps give your own insight into possible solutions (or even mini-solutions) to help make things better. Regardless of your party affiliation, VOTE with who is going to make the necessary changes to change this collision course. We don’t yet know what party (if any) will make these changes, but the campaigning is going to start and its worth paying attention to. Ron Paul may be one answer. Vote with the party that will save the country! Don’t worry about the petty differences about which party supports Pro-Choice or Pro-Life or same sex marriages or some other smaller issue that parties like to make bold stances on… those are important issues, but not near as important as saving your own country from falling apart! The main issue you MUST be voting on is SAVING THE COUNTRY first and foremost. Write letters to both parties telling them its an election issue for you and what you want to be done.

THEN, after you have sent dozens of letters to dozens of politicians and all your friends/family/co-workers have done the same and demanded the same of their family/friends/co-workers (GET THE CHAIN GOING!) it will be time to implement a plan to get your OWN PERSONAL financial house in order!

What about something I ACTUALLY have control over?

You may not be able to get the politicians to make the bold and sweeping changes necessary, but you can make some bold and sweeping changes for yourself. Vote will your wallet! Invest in precious metals (gold/silver) and businesses that will be around and do well regardless of the economic situation.

The Below Items Should Be Done Regardless of What Happens for Your Own Peace of Mind! Even If The Country Does Alright, You Can Always get really sick and not be able to work or lose your job. You Still Have A Family to Feed and House.

Go PAY OFF YOUR CREDIT CARD DEBT, personal line of credits, and other loans. CUT all expenses down to a minimum! Live below your means! Begin a savings plan for an emergency fund (what if you lose your job… you still have a family to feed, but so do millions of others who also could lose their jobs and who knows what could happen). Ideally the emergency fund should be able to support your family for 1 year.

Then go save for retirement aggressively. Want that brand new LCD/Plasma TV? Screw it, you already have a nice TV that will do just fine. Want to go on 2 vacations a year? Screw it, one will do. Want to re-mortgage your house to take equity out for renovations? Screw it, do the renovations piece by piece in a way you can afford to WITHOUT going further into debt.

Make an Emergency Food/Water Store In Your Home

Natural disasters occur. Wars occur. Lay offs occur. Power outages occur. Oil shortages occur. Things happen in life even if the country is fine and none of that nasty stuff happens. If you have some emergency food and water it may save your life or the lives of your loved ones. It’s just good planning that every citizen should do.

Invent/Innovate/Create

This is what makes our country so great and probably represents our best chance of overcoming future problems so we can continue to thrive.

What I’m trying to get at is: Instead of being part of the problem, be part of the solution!!! There are plenty of inventive, innovative and creative ways to help your family, company and country. Go do your part.

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