5 solutions for stepping out of financial paralysis and back into business as usual
By Jane Honeck
Every day, like me, you field questions about your views on the current economic situation. Because we work with money, our customers think (or at least hope) that we have the inside scoop. They are looking for a crystal ball that will tell them the right thing to do. And, because they are looking and waiting for that elusive answer, decisions are put on hold and business as usual is a thing of the past.
We are all waiting for that one piece of information that will have the answer for making sense of the current financial world. Unfortunately, we are on new, uncharted ground because there isn’t past history mirroring today’s events. There is no clear track record for what will happen next. There are plenty of theories, but that’s all they are—theories and speculation without a smidgen of certainty.
This uncertainty fuels everyone’s fear, and is reinforced by the headlines of the day. And, even though we are in the money business, it is impossible not to join in the fear and anxiety. The recent budget crisis catapulted us into the current stock market turmoil and quickly reaffirms the consequences of ignoring Sir Francis Bacon’s 400-year-old words, “The only thing we have to fear is fear itself.”