If you are one of those, you can start on the infinite what-ifs associated with a global economic downturn. Some experts opine that one could be putting itself together.
What the recession following 9/11 and The Great Recession of 2008 taught us was not to hope for the best. Instead, we must strategically plan and implement prematurely coping mechanisms in case of the worst-case scenarios.
That's exactly what some of my coaching clients over-50 are doing.
One, a semi-retired former lawyer who is determined never to fully retire has put her condo on the market. From that she will extract enough to fund a start-up in what should sell during an economic downturn. That's affordable mobile grooming services for dogs and cats.
She has already enrolled in a grooming training program. She is pricing mobile grooming vans.
She is prepared to service pet companions whose parents allow the fur to over-grow - to save money. Word of mouth will have it that she doesn't grouse about the unruly condition.
Another has shifted from the $32 a pop for haircut + shampoo on JCPenney to $15 at GreatClips. The lower cost means she can have her hair attended to monthly and look her best for calling on her clients - versus letting it go for two months or more.
A third anticipates being laid off and is investigating Ecuador for retiring on the cheap. He is using his vacation time to tour that nation. That is, if he doesn't get the boot first.
Me? I have decided to stay put in BoringVille. I had toyed with relocating to a beach community since my financial position had improved. Now I am focused in protecting those gains.
Contact Jane Genova firstname.lastname@example.org.