Are You Prepared For A Nuclear Attack?

This afternoon, while browsing the news headlines, I came across a YouTube video link with the title above, posted by the news network RT.

It immediately dawned on me that I was not even prepared to go home from work yet.  And then, preparing dinner, once I got home.  But, it also dawned on me how unprepared we are, in general, preparing for the future.

I have blogged many times before on this site about the sad state of U.S. retirement savings.  Note that I’m not picking a fight with Americans.  The same is true of many other countries and their peoples.  I happen to currently live in the most open society on earth.  I am provided with a wealth of content to blog about, along with freedom of speech to complement the available information.  Take that… North Korea!

So no, I am not prepared for a nuclear attack.  I don’t think San Francisco would be a target anyway, what… with its happy people, flowers in your hair, colorful clothing, orange bridge and funky, peace-loving neighborhoods.  When I relocate in a few months from now, I will reassess my preparedness.

But, I am financially prepared for almost anything.  I want you to be too.  You would have to cross many hedges and moats to get at me.  It is my intent to help provide financial literacy in easy-to-understand English.

For example, these 4 rules are easy to understand and follow:

• Earn money by selling something.  That includes selling your services to an employer.  For the highest price you are able to achieve!
• Spend less than what you earn. If you have debt that is not making you money, get rid of it.  A mortgage will not help you build wealth unless you are paying less to service the debt, than what you are earning from whatever you have bought with ‘other people’s money.’  For example, if you have a mortgage on a rental property, the tenant must pay you more than the cost of the mortgage.  What do you mean you live in a fancy house partly owned by a bank, while you incur all the ongoing expenses?
• Start saving what you don’t spend, but not in a bank savings account. Save like an investor, not a saver.  You need a return on your investment.  The 1% interest rate offered by your bank savings account is not enough!  They use your cash to build wealth for themselves and their investors.
• Get help from a trusted advisor before you make investments, unless you’re confident that you know what you’re doing on your own already.  Don’t give a financial advisor any money to manage before he/she has earned your trust.  It’s your money and we live by the golden rule… he who has the gold, rules!

Now, start building your own hedges and moats to protect you and your family. You owe at least that to yourself.  An imminent nuclear attack is improbable, but your approaching retirement is not!