Financial Changes To Make Now

Thursday, January 22, 2009

Hope, accountability and a call to action is what President Obama called for in his inaugural address.  Just as Obama took an oath, I want you to take an oath today that you will start to take control of your financial life!!  I want you to make a commitment to yourself and your family that 2009 will be the year that you will work to build a solid financial foundation, protect what you have and work hard to have secure financial future.  I urge you to take action – now.  

Working hard for financial security is something that most of us have probably not done in awhile or maybe ever. We felt we had it made and had no need to focus on financial security given that housing prices were going up approximately 10% per year and the stock market was posting nice yearly gains.  It became very easy for all of us to feel richer, to be lulled into a sense of false prosperity.  Credit was not only cheap but readily available to just about anyone who asked for it – no income, no job, no assets, no problem you could still get a loan – a NINJA loan!  We were living in a world of false prosperity.  Most of us were living well beyond our means because we thought we could count on the price of our house appreciating every year and the major indexes posting yearly gains!!  That all changed in 2008.  The days of easy money are gone. 

read more »