I recently watched a couple YouTube videos featuring Tony Robbins talking about his “Warnings” on our current economic situation.
This is the link to his first video:
http://www.youtube.com/watch?v=Z_rShZA_IjE&feature=related
This is the link to part two:
http://www.youtube.com/watch?v=LZuJqrcwrEU&feature=related
I thought these videos were great and that Tony did do a great job; however, while watching the videos I couldn’t help but question who they would apply to and most importantly - who would watch them?
Now if your someone who is familiar with Tony Robbins or have seen or read any of his stuff you know he’s a pretty cool guy and for that reason alone you may be so inclined to watch these videos. On the other hand if you haven’t really seen or read any of his stuff as a viewer you may tune out within the first two minutes of the first video as he spends the vast majority of the beginning trying to dispel any thoughts of alarm on what he is about to say.
When the meat of what he’s saying finally comes out he focuses his points based around market trends, consumer confidence and primarily what is happening or going to happen in the stock market. So, once again, if you have Stocks or are playing the Market its some great information. Not “new” information by any means but great information none the less. Brought to you in the characteristic Tony Robbins way. Which is what interested me. Not specifically what he was saying, but how he said it.
How he said what he was saying actually applies to a broader audience in my opinion.
“Forecasting” Market conditions is a great concept unless your not actually “In” the Market. And I’m not talking about people who have a retirement plan or occasionally call their financial planner to make an adjustment on their section 125 plan through their work. When someone is talking about “forecasting” they are typically referring to people who are “Traders” or people who have large sums of money invested with the soul purpose to create gains on their investment so they are watching the market closely. I personally don’t really fall into either of those categories but the concept of “forecasting” is still not a foreign concept and it is one that if thought about and applied correctly can protect and save you hundreds if not thousands of dollars through out your life time.
In the same manner that a “Trader” would become familiar with various Market trends over time and eventually be able to accurately determine various Market dips and spikes you can also become fluent in your ability to accurately determine good times and bad times on an economic level in your own household. If you are paying attention. The key to that is: Paying attention. Because the reality is most people don’t.
Prime example - vehicles. Nearly everyone who works has a vehicle or some form of transportation that they use. How often does it fail? If it fails frequently you tend to expect it so you make arrangements for it or you grow accustom to repairing it. But typically, once repaired or the arrangement is made in our minds the “problem” is solved so we forget about it and go about our daily business until, almost like clock work, it happens again. See what I mean? If you have a vehicle or currently have some other means of transportation it is easy to determine or “forecast” that eventually you’ll have a problem with it and it will need to be addressed.
Like Tony mentioned in his video, in this life there are SEASONS. Winter, Spring, Summer and fall. And those “seasons” are descriptive of how a persons financial circumstances will be over various weeks, months and years of their life. The people who tend to do well financially in life recognize that, prepare for that and plan accordingly. Am I suggesting a person plan to fail? Not at all. I’m suggesting a person plan to succeed! Starting with the thought process of recognizing and planning for the basics in their life. Recognizing the basic patterns that are going on currently in your life from a financial perspective and then applying them to the prospective “season” that you are currently living in.
So, your currently working a job that pays the majority all of the monthly expenses yet doesn’t leave much left for playing with let alone savings or retirement. Great. So the typical response from every one on the outside looking in is - Save. Gotta save! And in some aspects they are correct but what good is your ability to save if you lack the ability to recognize you need a new tire on your car before it blows and leaves you waiting for a tow truck on the side of the road? Or your battery goes out, your alternator stops working, etc. How about incurring a “unexpected” medical expense? Or an “unexpected” traffic ticket? Things like that really throw a wrench into “savings”.
But, are they truly “unexpected”? I mean, you are human right? Humans get sick, a persons body can get hurt. Vehicles need maintenance and will break down. To carry the thought process further, who are you buying Christmas presents for this year? Its currently the end of August right now. Christmas is a few months away. Are you and your family going to have a good Christmas this year? What costume are you wearing to that Halloween party you haven’t been invited to yet? See what I mean? People equate “savings” to money in the bank. They equate “forecasting” to playing the stock market. Yet many people, common folk, like myself are consistently finding them self in situations that require our attention and focus on an immediate level because of our lack of anticipation.
I was told once that Life is like Chess and the people who do well in life have the ability to think two or three moves ahead. Its kinda true. You don’t have to be some huge financial guru to recognize and determine the “seasons” in your life. You don’t have to have a ton of financial training and back ground to recognize and anticipate the ebb and flows of the income and liabilities in your life. You simply have to start paying attention. Start seeing your life, viewing it from a financial perspective. Reducing it to its lowest common denominator.
I had a friend of mine that had three brand new pairs of jeans in his closet, labels were still on. I kinda laughed and said, “What are these for?” He looked at me and said, “Wearin’.” I said, “how long they been sittin’ here?” He said, ” ’bout a year.” I said, “A year!? Your kidding! Why would you have them sitting here for a year?” He said, “I had extra money at the time, they were a great deal and I’ll eventually need them.” I said, “That’s crazy, I just buy jeans when I need them.” He looked at me and smiled then said, “Ya, and that is why you look the way you do!” See, at the time, I was broke. No cash to go buy new jeans even though I needed them. Get the point?
You got financial difficulties? The economy is bad, things are tough? Recognize that this is “Winter” and that means “Spring” is coming. You are reaping the rewards of the “seeds” you planted last Spring. If this Winter sucks, take note of it. Remember it. Write it down and then make damn sure this Spring you plan better. Put your self in a situation of anticipation rather than one of simply reaction. That way when “Winter” comes again, you find yourself inside and warm with plenty to eat.
Just what I think.