Questions? Email me at: CForrest@PrepareYourLegacy.com

Title search:


blog-cockpit.png

My video yesterday “What Could Go Wrong?” had me thinking about my own financial preparedness. You see, each of us has a crucible moment, one where life as we know it will never be the same. These moments come in various forms and at different times in our lives. Some are hardly noticed until hindsight reminds us we had one; and other times, we get the big ones that hit us square between the eyes, when we least expect it and always when we least want it. I should know, because I’ve had my share, including 2 1/2 years ago when I discovered I had thyroid cancer, which eventually led to the company I was working for relieving me of my airline pilot duties. This was a blow to me, and left my financial future feeling a little uncertain. But just like in the airline industry, having the right guidance system, a Financial GPS, made me realize all was not lost.

Turn On Your Financial GPS

There is a certain irony on how I wound up figuring out where we were financially. One might think they are bullet proof working for a company that was experiencing a severe shortage of trained aircrew. Let me tell you, after ten years of doubt and wonder, that would have proven a fool’s errand. It was these years of uncertainty that finally forced my wife and I to take a deep dive into our finances and ultimately take action to protect ourselves against the big bad wolf that could eventually come knocking on the door.

Here is what we did:

  1. We turned on our GPS: As the saying goes, You can’t get to where you want to go unless you know where you are to start. Taking ownership of our financial situation was very uncomfortable, definitely not easy, but it was imperative.
  2. We then took drastic action to lower our expenses and reduce our debt load. We had a large mortgage and had kids in private school. This was all manageable while I was working but we knew if I suddenly lost my job then we would be up ‘the Pits Creek without a shaddle’. We chose not to risk being caught in the wrong place at the wrong time. We sold our home, downsized, consolidated our debt and and lowered our expenses. Now we could really sleep at night.
  3. We remained laser focused on our health, family and financial game plan. We stopped trying to keep up with the Jones's - not an easy task in our neck of the woods. It takes courage to face your fears. We have them like everyone else, but by becoming clear on what they were and by stepping into our truth, we ensured that we were well prepared for our next great opportunity.

Activating your Financial GPS starts by knowing where you are, and one of the tools that helped me find where I was at was the ‘Know Your Score' assessment. I highly encourage everyone to ‘Know Your Score’ by visiting my website (https://colinforrest.prepareyourlegacy.com) and taking the assessment. It’s free, will take only 10 minutes of your time, and it will initialize your financial GPS

To Your Financial Preparedness!

Share: https://colinforrest.prepareyourlegacy.com/blog/Blog10/The-35-000-View-from-Colin-s-Cockpit

Powered by LEGACY Edge
© 2019 REIN