What’s the worst case scenario? It’s different for all of us. For some, it’s losing your money. For others it’s losing your mind. Or integrity. Or love. There’s no shortage of worst case scenarios. Have you thought about your worst case scenario? What would you do if you met it?
Here are some thoughts on how to handle the worst case scenario of a prolonged economic slump or depression:
- Learn to meditate
- Learn how the Federal Reserve System works
- Reconsider your entire viewpoint on everything
- Pay attention to what you love
- Learn how to conduct a Japanese Tea ceremony
Hard times are ahead. They’ll be painful.
But: when have there never been hard times? Getting through them is what makes us human.
Loss can be (painfully) liberating. Not all worst case scenarios are equal. Sometimes, they work to your advantage.
What’s your worst case scenario? What’s on your list?
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I unfortunately always think in the 'worst-case scenario' mind frame. I guess it's the nurse in me always wanting to be prepared for the worst!
I can't decide if it's a good thing or a bad thing.
Amen to that, Andrew. It is important to remain calm. We certainly can learn a lot from those who made it through the first Great Depression.
Very, very good remarks. If I may be so bold, I would add to it the importance of remaining calm. Do not panic, although many (including the media) may panic. Wall Street is crashing, the sky is not falling. It's the calm ones, who did not lose their heads that made it through the Great Depression with their dignity and a renewed sense of self-worth. IMHO.
Better times will come again.