“Six Months to a Year in Savings”– Is that really the right answer? I don’t think so!

If you were stranded in a jungle and needed help getting out, would you trust your best friend or perhaps a parent; a person who had studied about the area, but never been there; or someone who had been there for four years and come back to tell about the adventure?

That’s probably why you’re reading about this now. Hopefully you’ve come to realize the expert is someone who has been there and done that, so to speak. Without jargon I will tell let you in on a little secret—a secret even the best-paid gurus don’t teach. How can I possibly go against advice professionals have given, you ask? Because in doing what was suggested and then some, I still fell short.

In studying numerous financial advisors, motivational speakers, life strategists, consultants, trainers, and experts in the field, I’ve found the majority of them telling people that the only sure way to survive in tough times is to have six months to a year’s worth of savings put away. This is a safe guard should you be without an income for an extended period of time. (Do you think they’ve ever had to do this?) And it sounds like a lot of money, doesn’t it, for the average person? I mean, how long will you need to save money in order to put away a year’s worth of income? Most of us live paycheck to paycheck as it is! “Extra” is an odd word around most homes, and more often than that word is used is probably the phrase, “We can’t afford it.”

People that don’t have a lot of money have probably never looked into the stock market, either. For so many people the stock market is sort of like window shopping, or considering something that can’t be had, so why bother? I can answer that for you.

Even though the stock market rises and falls, typically about every ten years, investing wisely in the market is better now than it has been for quite some time. The most compelling crash was that of the crash in 1921 when the recovery was slower than other times due to many outside forces.  

Just remember that this is a study, sort of like learning a new hobby, and to do anything worthwhile, you need to be diligent. Learning will take time and a master to teach you the ropes. But the good news is it only takes a minimum amount of money to get started, so shop around! Here are a few places to get started: http://www.investools.com/landing.swim, https://wwws.tdameritradeconferences.com/workshops/default.asp, http://www.scottrade.com/

Ask questions, because they will be happy to answer them in order to gain your business, and the only dumb question is the one that’s never asked. (Believe me, they’ve heard them all.)

The reason investing is the best lifesaver is because if you become seriously injured and cannot work for an extended period, or ever again, how will you make money? You can sue the company and have a four-year-litigation, but who will make your house, car, and even utility and food payments until you win? The car accident I was involved in was the other driver’s fault. The driver ran a red light, admitted fault, and was even working for a big national company when he T-boned me in an intersection—it took four years, almost to the day to reach a settlement, and courtroom would have taken longer and cost more, meaning I would have probably received less.

You may be thinking you could receive disability for the accident and at least recover some of the loss until you can get back on your feet, right? Wrong. The accident I was in happened on April 7, 2006 and my settlement was a couple of days longer than four years—the disability hearing is sometime in March of 2011… five years after the accident. My goal is to not rely on someone else to care for me, but find a new way of creating an income by allowing other people to learn from mistakes I, and countless others, have made. It just isn’t enough. You need to have money creating a residual income, at all times. Saving just isn’t enough!

So go ahead on your safari, plan for it because you’re sure to have an unexpected one, like it or not. But before you do, you had better learn how the stock market works or find a guide who doesn’t just talk like she knows what she’s talking about, but someone who has actually been there for awhile and knows how it works, first-hand!

About Michelle J Brewer

Free-spirited and unwilling to let life throw a curve she can't handle Michelle hasn't done it all, but what she does do she lands on her feet with her hands in the air. Currently a writer of screenplays, she knows the only true way to benefit in her life is by sharing valuable information. Helping others grow to better their own lives, and loving it at the same time, gives her a sense of accomplishment. This blog will discuss what she is working on and how it's progressing. When you want to know more about MJ Brewer, you can check out her blog at http://2ndChanceatHeaven.com to get the inside scoop! Have fun and please volunteer your feedback!
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One Response to “Six Months to a Year in Savings”– Is that really the right answer? I don’t think so!

  1. Jean McD says:

    This makes perfect sense to me. Thanks for sharing.

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