Wednesday, 8 April 2015

Day 9: Learning To Be Prepared - Are You Financially Ready

This afternoon my wife shared an interesting story about a girl friend of hers with me. She has this friend that has found herself in hospital due to the negligence of the medical system. No fault of her but three weeks on and she is still bedridden in hospital. Now Marie prior to getting ill was an absolute picture of health.

But as you can guess she was unintentionally diagnosed wrongly and ended up with a burst appendix. Right now she is so weak due to internal poisoning caused by fecal matter that she has lost the power of her muscles. Vicki says it will be at least six months before Marie can walk again.

So why am I sharing this with you?

Lets go back to 24 months ago when we invited Marie to play the RobertbKiyosaki game called CashFlown101 with us. We all had a great two hour session playing CashFlow 101 but Vicki remembers how Marie reacted to the game of getting out of the Rat Race and into the outer lane off being Financially Free.

Marie mentioned to us that both she and Bob had great jobs. She worked for the council and Bob worked for the mining industry in Queensland, Australia. Bob was doing very well as the mining boom was at an all time high back then.

She has just one son and he was doing an apprenticeship and would soon be on his feet financially too. Her home was nearly paid off and life was just as it was meant to be. Happy!

Let's fast forward to four months ago when both father and son lost their job and apprenticeship due to the slowing down of mining in Queensland. So luckily Marie was working and they could get by.

Until four weeks ago Marie fell ill and now cannot work for months. Luckily she is covered by private health care so medical bills are taken care of. But what about house repayments, car expenses, food and clothing. All these need to be catered for too.

Now if Marie had listened to what Robert Kiyosaki was trying to teach us in Cash Flow 101 she may have picked up another lesson or two. She may have learned that what may seem rosy on the surface may not necessarily be so underneath.

If you are reading this post of mine start to have a back up plan that can cater for those unexpected twists and turns that life deals out to us.

Make sure your income is just not dependent upon time alone but is passive and can come in whether you are sick or not.

Try not to be dependent upon the system or government or your company to look after your finances for you.

Be in control is my advice to you today.

Stay connected as I will share my life experiences with you as I journey through the book Rich Dad Poor Dad. Each week.

Claude Fullinfaw