I tried to think of a small recipe or program for anybody who might be in financial trouble and rush into a bad decision and lose it all in a time like this. It is hard to encompass all demographics and individual cases but it is obvious and definiterly sound financial advise.
I also came up with a short list of steps to consider before you jump in or stand back.
- Remember to always have clearly defined goals (goals)
- Remember to never put all your money in one place (diversification)
- Remember that things take time (to grow or get better) (time)
- Remember to check their performance and yours (performance)
- Remember to have a plan or defend yourself from a sudden event (Sudden events)
- Things change (Change)
- Remember to think and observe the economy {local, national and international, yours}. (economy)
- Be courious and learn about connections between things. (connections)
- As a rule:
- Long term is best (***)
- Short term is second best (**)
- Rushed and Quick is the least safe (*)
- Remember to master and use a strategy that is efficient. (efficiency)
- HAVE A BACK UP! DON'T USE ALL YOUR FUNDS ALL THE TIME. (safety net)
- Always practice patience and calm. (patience)
- If you don't know, make sure you get a good service, stay out of it, or learn on your own. (knowledge)
- Know how your tools and other things work. (operating knowledge) (well informed)
- Remember that almost everything relates to everything else and is dependent upon it. (relations)
- Remember to use your eyes and ears, pay attention, learn, emulate and listen even if it is bits of information at a time. (eyes and ears)
- How did you do last time? (look back)
- Based on that, how do you think you will do this time? (look forward)
- Remember about rotation, whether it is your money or your tools. A tired soldier or line of soldiers needs fresh reinforcement/replacement. (rotation)
- Everything works in cycles, and not always the same turn. (cycles)
- It is ok to retreat or pull back, specially if you are going to reorganize or rest. (cohesion)
- Remember leisure and to have fun, take a break, forget about "that" or dream while you enjoy your time off. (leisure)
- In order to learn, plan or feel good about something you need creativity. (creativity)
- It's very important is to respect your own space. (space)
- SET LIMITS AND LEARN TO RESPECT THEM (limits)
- HAVE AN ABSOLUTE STOP LIMIT (red line)
- Don't forget to look sideways make sure you know what the guy next to you did. (look sideways)
- Remember horse races, the favorite is a favorite because he usually wins, remember that most times bigger is better and stronger, and don't forget to be the one to become rich off the new horse because you believed in yourself. (horse races)
The simple program I wrote while waiting for my flight for emergency handling of a market crash during the COVID-19 pandemic. I used this, along with verbal warnings and advice and asked the public to help me with the warnings and peace keeping.
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