Financial freedom can only occur when you are prepared to weather not only your financial successes but also financial storms. If there's one thing that's predictable about your life is that life can be unpredictable. You may be asking yourself, "what can I do to prepare for what I don't know?" The answer to that question is in today's broadcast.
Today's Key Number Six: Hope for the Best, Plan for the Worst helps as host Heather Wagenhals shares how to straddle the fence of being optimistic and realistic when it comes to creating our financial future successfully.
While remaining optimistic about my financial future, catastrophic events beyond my control could materially alter my financial picture, therefore I must prepare for many possible scenarios.
I am preparing for potential financial disasters by creating plans and implementing strategies to overcome them.
I commit to planning and practicing for multiple scenarios that may challenge me or my family financially.
Sit down with yourself and significant other, if you have one, and list all of the worst possible outcomes that may beset your family. Having an alternate plan of action is like the insurance policy you pay for and never use.