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In the face of financial uncertainty, plan for the future

Julie Murphy • Aug 16, 2011

We’ve come to a weird point in history where, for the first
time ever, the next generations have no security blanket for the future.
Pension funds are being drained to fix the mistakes of the past, and social
security probably won’t be around for those looking to retire in as little as
10 to 15 years.

The dark days of the economy definitely aren’t over, but
there is good news in this. You have the power to control your financial
outcomes. But first you have to answer this question:

How do you handle
uncertainty?

Because that’s what the future holds. And for many of the
people I have spoken to, this is really hitting home.

I recently received an email from a man whose daughter gave
him my book as a way to help him stay alive financially. His name is John, he’s
83 and he’s come to a rough spot. He lost all the money in his trust as a
result of bad financial advice, and his social security check doesn’t even
cover half of his living expenses. Luckily, he does have steady work. But he is
concerned that once his health gives out, he won’t be able to work and will
“have to go to the poor house to live the rest of [his] born days.”

John thought he’d be able to make it, but now he’s forced to
figure out his next steps. And he’s not the only one. As a result of years of
money mismanagement at the highest levels, the economy has forced us all to
reevaluate our current financial plans – or even get one in place where there
wasn’t a need for one before.

Where there used to be a safety net, there is now just fear
and uncertainty. You can look at your financial future and be paralyzed in
fear. Or you can embrace it as an opportunity to create the life of your
dreams.

Your future starts
now

What will you do when the bottom falls out on you? You
really only have two options: be afraid or be proactive. Being afraid entails
living exactly the same, and worrying about what might happen if you continue
doing the same things. But being proactive starts with only a few small actions
each day – putting your loose change in an interest-bearing savings account or
negotiating a lower cell phone bill.

John, though in a tight spot right now, is taking an active
role in his financial well-being. By establishing a plan and staying on the
course, he will eventually find himself in a better place. John isn’t sticking
his head in the sand; he’s making
conscious choices
that set him up for a bright future. You, too, can do the
same. Your financial future starts right now. You know what you want your
destination to be, and only you hold the keys to get there.

Sign up for my weekly
words of wisdom (in the top right-hand corner of your screen) for encouraging
thoughts each Tuesday. And be sure to check out my book,
The Emotion Behind Money , for guidance and healing. You can take
control of your finances, and I can help you.

Tags: financial fear, fear of finances, Chicago finance
advice, Chicago financial advisor, Chicago financial planner, Julie murphy
casserly, Julie Murphy advice, Julie Murphy finance, emotion
behind money

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