• About
  • Mortgage Basics
  • $40K Challenge
  • Aunt Doris
  • Grandfather Says
  • Privacy
  • Archives

Len Penzo dot Com

The offbeat personal finance blog for responsible people.

Quick Advice for the Financial Times You Didn’t Plan For

By Sabado Domingo

At some point in life, everyone has hit some rough financial times. Sometimes, these financial problems are brought on by the ignorance of youth, other times they are brought on by coincidence, and they can even be caused by catastrophes beyond your control. No matter how it happens, it’s clear that you can’t allow financial disasters decide how your life will play out.

Your life is your own, and it doesn’t make any sense to just let outside forces rule the way you live. This is why you need to take the time to learn about how to avoid financial problems, what to do when they occur, and how to plan for long-term financial stability.

The Great Recession and the latest COVID-related economic slump are perfect examples of how regular people can become completely financially wiped-out by the actions of others. During both collapses and ensuing worldwide financial calamities, millions of people around the world found themselves facing financial ruin.

In many cases, people lost everything thanks to the unscrupulous and callous actions of others. Even though the recession isn’t their fault, these people are still left to pick up the pieces on their own. When left with a task like that, most people opt to find help of some kind.

When you decide that you want some help planning for future financial disasters or mitigating the damage of current ones, it’s important to know where to turn. There are a lot of great resources out there for people who need financial help, and are looking for help in making their portfolio stronger and more capable of weathering strong financial storms. Certified financial planners are a great place to start.

Trusted money management companies may be in the best position to help you grow your portfolio and diversify it to a point where it is less likely to be crippled by sudden changes in the market. This can be a great way to actively work at keeping yourself free from financial issues.

You can also take proactive steps to help you and your family ride out financial storms in the future. The steps you take here could involve a mixture of savings and investments, but you may not feel comfortable taking these steps on your own. Here, the help of a qualified financial analyst or consultant could really pay off.

These professionals understand how to best help you protect your money, and the fees involved are generally greatly outweighed by the piece of mind and stability they can provide for you. Of course, the need for these services will vary on a case to case basis.

No matter who you are, chances are you’ve made a bad financial choice at some point. Maybe you’ve had to pay for that choice more dearly than others have. Maybe those choices haven’t come back to bite you yet. Whatever the case may be, it’s hard to argue against the importance of sound financial advisement. When you take the time to work on your finances with professionals, it’s easy to see why it is so important.

Photo credit: stock photo

1 Comment December 23, 2020

Comments

  1. 1

    Spedie says

    Unfortunately, no one can protect you from a selfish, self absorbed spouse. This is why it is taking me so long to write my submission to you Len. i never saw it coming, and do not want to appear bitter.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

The Question of the Week:

Are you a better or worse financial manager than your parents?

View Results

Loading ... Loading ...

Recent Posts

  • Black Coffee: Out to Lunch
  • How to Set Up a Proper Gambling Budget
  • How to Guarantee a Social Security Disability Claim
  • Grandfather Says: Croc Hunting in Mindanao
  • How to Save Money on Dental Care So You Won’t Go Broke at the Dentist
  • 7 Big Reasons Why a Roth IRA Isn’t the Best Way to Save for Retirement
  • 3 Ways That Great Sleep Helps You Get Richer
  • Series I Savings Bonds Are Now Paying 9.62%; Here Are Their Pros and Cons
  • Black Coffee: Are You Not Entertained?
  • 100 Words On: What You Should Always Do Before Buying Stuff Online

Disclaimer

This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. In fact, making investment decisions based on information published here, or any other website for that matter, is more than unwise; it is folly. This website accepts advertising in the form of monetary and other compensation; as such, topics of discussion are occasionally influenced by these advertisers. Sometimes, an article may also include affiliate links, meaning, at no additional cost to you, this blog earns a commission if you click through and make a purchase (for example, as an Amazon Associate I earn from qualifying purchases). Remember, you and you alone are responsible for the decisions you make in life, so please contact an independent financial professional for advice regarding your unique personal situation.

Sign up for the weekly Len Penzo dot Com newsletter
Len Penzo dot Com Delivered Weekly
Join more than 40,000 readers and fans who enjoy personal finance and macroeconomics with an offbeat twist!
Invalid email address
Thanks for subscribing!

Popular Now:

  1. 1. The Great Paper Towel Test: Which Brand Is Your Best Value?
  2. 2. How a Broken Washing Machine Fixed My Finances
  3. 3. Tip Inflation: We’ve Got Nobody to Blame But Ourselves
  4. 4. Lottery Fraud: Don’t Get Caught Paying “The Stupid Tax”
  5. 5. What’s the Fastest Way to Pay Down Your Mortgage Early?
  6. 6. The Marriage Conundrum: Joint or Separate Accounts?
  7. 7. Why Time Is More Valuable Than Money
  8. 8. 25 Examples of Shrinkflation That No Longer Fool Consumers
  9. 9. Historical Gold & Silver Benchmarks for Wages and Commodity Prices
  10. 10. 4 Good Reasons Why Some Quarters Are Painted Red

All-Time Most Popular:

  1. 1. 19 Things Your Suburban Millionaire Neighbor Won’t Tell You
  2. 2. Dear Friend: Here Are 41 Reasons Why I’m NOT Lending You the Money
  3. 3. Why Your Expensive Luxury Car Doesn’t Impress Smart People
  4. 4. If You Can’t Live on $40,000 Annually It’s Your Own Fault
  5. 5. 21 Reasons Why Corner Lots Are for Suckers
  6. 6. 4 Smart Reasons Why College Isn’t for Everyone
  7. 7. 18 Fast Facts About Social Security Numbers
  8. 8. My Ketchup Taste Test: Upset! Guess Which Brand Topped Heinz
  9. 9. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  10. 10. Here’s a Simple Trick for Getting Credit Card Interest Charges Waived

Copyright © 2022 Len Penzo dot Com · All Rights Reserved · Designed by Nuts and Bolts Media

© Len Penzo dot Com 2008–2022