Financial/Economic Concerns and Planning

It’s obvious to everyone who has watched the Hurricane Katrina debacle that disaster can take your house and put you out of a job. Maybe out of business, too.

A job loss, for most Americans, is a disaster in and of itself. Most of us have a buffer of about two paychecks before we’re in serious financial jeopardy.

Sure, the good advice stands: live within your means; have some cash put away. But from a disaster survival standpoint, be aware that you need it where you can get it if the lights go out or your bank is flooded. Money in the bank is worthless if you can’t get it out.

And putting money away in the bank is a slow way to accumulate wealth. Worse, often the interest on saved money doesn’t keep up with inflation. So it’s like throwing money away.

So, other than your emergency stash, find some more creative ways to “store” and build your wealth.

The purpose of this section is to share some ways to do exactly that.

I’m not the only one who is a big fan of passive income. Being employed, in this day and age, is overrated. So is being self-employed. Really, to live well, what one needs is an ownership interest in something with a growing value, or that provides passive income, or both.

Robert Kiyosaki’s book, Rich Dad, Poor Dad, is an excellent primer on these principles, and I highly recommend it. His point is that people who get wealthy, or have wealth, take a different view of money than the rest of us do, and that the rest of us just need to learn the strategy in order to use it. You don’t have to be rich to begin with—just productive, committed, and in tune with the strategy.

I contend that it’s difficult to develop the survival mindset—or financial survivability—in today’s economy, when one is merely an employee, not having stepped into the food chain that is entrepreneurial pursuits.

But you don’t have to get crazy, either. Keep the job; build a business and a portfolio.

This section will discuss some of the accessible ways that the average individual can step into that world...

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