Finance & Wealth

Most People Who Followed Traditional Finance Advice Are Now Broke

By Reece Robertson | Sep 30, 2020
Finance & Wealth | ACHNET
Disclaimer: I am not a financial advisor. Follow any recommendations at your own risk. If you look at the world today, the reality you are faced with is probably different from the one you were looking at yesterday, a week ago, and most definitely, 6 months ago. While we are enduring a period where everything seems to be upside down, it is also a time to throw out our traditional financial beliefs and consider new ways to how money works. Said Grant Cardone, “When economic conditions change, all of your earlier considerations and actions need to change along with them. ” Here the 3 most simple financial principles I believe will be crucial for thriving in the “new normal: ” 1. Move Towards Becoming Economically Self-Reliant “Some people think self-employment is risky, but the real risk lies in deriving your security from an external source” -Chris Guillebeau, The Art of Non-Conformity If I’d shared that quote even just a year ago, many people would’ve simply laughed in my face. They’d tell me I’m over-exaggerating and need to lighten up. Unfortunately, Chris Guillebeau’s words are suddenly a reality and most people aren’t ready. We put too much trust in the existing system, and it’s falling apart. The idea of simply going to school, getting a job, working hard, saving a bit of money, buying a house, and getting out of debt was already broken. However, it’s now a recipe for financial disaster. To me, the solution is not wishing that everything would go back to how it was before, but rather, creating our own security in this brave new world. Of course, everyone isn’t going to suddenly become economically self-reliant overnight. What I’m suggesting is for everyone to make it their endgame. After all, it is small, consecutive steps that lead to big success. Not to mention, now is a perfect opportunity to become and think like an entrepreneur. Why? Time is of abundance. If you’ve been saying that you just ...