The brave, new world that we all live in is moving at a pace that’s hard to catch up with if you fall behind. Only the strong will survive and the kind of strength that will prove to mean more than anything else will probably be used with a figurative connotation. History repeats itself, but as human beings we evolve and the problems of yesteryear are not the problems of today, and today’s problems will not be the same as tomorrow’s. So, as we evolve, then so must our problem-solving skills because until when and if we advance to the point that we no longer create problems within ourselves and the societies in which we’re a part of, we’re going to have to get smarter by thinking more flexibly. All kinds of metaphorical bubbles of human expansion are being created and continue to expand as time passes. Some of these bubbles that I refer to, carry a negative connotation, because the word ‘bubble’ is used to describe an expanding, delicate thing with little known substance that is ultimately predicted to burst. Money market experts describe all kinds of expanding and unregulated financial systems, instruments and industries as bubbles when they believe that they are reaching a point of critical mass and about to collapse. Many finance experts predicted to mortgage crisis, the stock market crash and the American automobile industry’s failings years before they actually occurred. We maybe evolving and so are our problems, but there are always signs and lessons to be learned from the past.
Money markets, mutual and hedge funds, and industries of all kinds are all part of a financial and economic ecosystem that is extremely fragile. Certain scenarios exist where if specific dominoes fall, then rest could fall with them and everything could almost literally fall apart starting with the collapse of key financial systems and money markets. A good CPA firm has many people working for them that have their own theories and financial doomsday scenarios that are quite plausible, but none of us are really in a position to be able to personally so anything about what could be. We can only be financially and personally accountable for ourselves and hope that others are doing the same, because we can’t control the world’s actions, just our own. A well-rounded financial plan with a diversified investment portfolio including actionable liquid assets is one of the best ways to prepare for uncertain times, but so many people don’t even know how to manage their own finances to the point that they are able to even think about this kind of stuff. It doesn’t take a college degree in accounting to understand that good money management is of the utmost importance in this day-in-age. It also doesn’t take a college degree of any time to admit that you don’t know everything, so if you do want to take some proactive financial steps to securing your future, all you need to do is form some self-discipline and reach out for a helping hand.
Accounting firms of all kinds exist that can help you with whatever money or assets you have, at any stage of our life. Bear in mind though, that there are as many opinions about where your money is safest or where it can grow the fastest as there are people willing to give them, so it’s best to take an objective approach. A real estate investor could tell you that your money is going to grow the most for you in the shortest amount of time for your particular situation if you invest in real estate. That could be true, but if you put all of your eggs in one basket and something unforeseen occurs that negatively impacts the entire real estate market that you’re invested in, you might not be able to get out in time to save the shirt on your back. Everyone often has the best intentions, but it’s your responsibility to take an active and informed interest in your own investments and financial future. We all live in the internet age and we’re capable of educating ourselves on just about anything, and no one knows our individual situation better that us, personally. We all need to play an active, proactive role in every aspect of our lives that matter, because if the bottom falls out of this whole thing and we’re free-falling, what use is there in finding anyone to blame if we’re falling to our inevitable financial deaths? These are interesting and uncertain times that we live, so understand that you’re your own best friend, and it’s possible that you could instead be your own worst enemy if you don’t understand the position you’re in.