Tuesday, October 28, 2008

And In The Blink Of An Eye!

What happened here?
The smart and knowledgeable of yesterday are now humbled and ordinary. The mighty investment banks of yore are either decimated or are scrambling like the rest of the financial institutions. The infallible maestro admits he was wrong. High flying CEOs are disgraced and remembered no more. 'I am invincible' to 'I am nothing' in the blink of an eye. Such is the temperament of life!

Never underestimate the future because change is inevitable. What you can control is your preparedness for change. Preparedness could be tangible actions like gaining marketable skills, networking, having an emergency fund or strategic. Strategic preparedness entails having the right mindset. A mindset that can anticipate change and deal with adverse situations without shutting down. Being ready for change means being realistic about life by understanding our existence in the large context of this world. Sometimes we get so involved in the details that we lose sight of the bigger picture. That is when we are most vulnerable to change and consequently find the experience most painful.

Sometimes we become so confident that we forget the fragility of the whole situation. We see the high & mighty fall in this crisis but let us not forget our own motto – “this could never happen to me – I am so smart, so indispensible, so critical …”. Sorry – but that is not true. Confidence is good, arrogance is detrimental.

And finally what is financially smart? Mostly common sense - spend less than you make, invest in things you understand, resist temptation, give it your 100% - everytime, tweak what you control, be optimistic – I could go on but you get the drift.

If you enjoyed this post, consider subscribing to a full RSS feed or get regular updates via email.

No comments: