
Imagine waking up every day unsure whether youâll survive the
day. No fresh food. No fresh air. NO idea of how to reach your home!
Sunita Williams and Barry Wilmore faced exactly similar terrifying
reality for 286 long days when their routine small 8-day space mission faced a
critical technical failure ensuring an unknown ordeal in the cold, unforgiving
expanse of space.
Just imagine yourself in their place.
What if you lost your job tomorrow? Or a medical emergency wipes
out your savings? Would you have the financial âoxygenâ to survive?
THE FINANCIAL SURVIVAL KIT: LESSONS FROM SPACE :
The Emergency
Fund = Financial Oxygen
When Sunita and Barry were left waiting for months, their oxygen supply was non-negotiableâit kept them alive.
Just like astronauts must carefully ration oxygen and
supplies to survive, you need an emergency fund to sustain you when the
unexpected happens.
Remember, Your emergency fund is your financial oxygen.
Ask Yourself: (not just now but every couple of years)
Could you cover 6 months of expenses if your income suddenly
stopped?
Are you prepared for a financial emergency without relying
on loans or credit cards?
đ Mission Objective:
Aim to save at least 6 monthsâ worth of living expenses so that you can
breathe easy, even in turbulent times. Emergencies do not come with a message
to you that they are coming!
Backup
Systems = Diversification
A spacecraft is designed with multiple backup systemsâIf
1 fails, the other kicks in and starts working, because in space, failure isnât
an option.
Now, look at your finances:
- Are
all your investments tied to one single asset, like real estate, FD, or
stocks?
- Would
a sudden market crash or a real estate crash wipe out your wealth?
¡
Lesson from Space: Diversify your
investments! Spread your risk across stocks, gold, bonds, mutual funds, real
estate, Reits, etc.,
đ Mission Objective:
A well-balanced portfolio will ensure that
if 1 asset class crashes, you have a backup in the form of another asset class to
take you to safety; just like a well-engineered spacecraft.
JOURNEY INTO THE UNKNOWN = LONG-TERM VISION :
Space missions require years of preparation and patience. Astronauts
donât panic at the first sign of turbulenceâthey trust the process and
follow their training. The Media on Earth panicked but not them.
But what do most investors do?
đ
Markets dip? Sell everything in fear.
đ
Markets rise? Chase risky trends.
Ask Yourself:
¡
Do you react to news every time with either fear
or greed? Do you take financial decisions with emotions or follow a solid
financial plan in place?
¡
Are you investing with patience and
discipline,? Do you let compounding work its magic on your portfolio?
đ
Mission Objective:
STAY THE COURSE AND DONâT JUMP THE SHIP MIDWAY.
Jumping the roller-coaster just because its coming down will result in a
guaranteed injury.
Just sitting tight will take you to the goal. Stock to your Financial Plan and
let the compounding work its magic.
Adapting in
Space = Adapting in Life
Sunita and Barry didnât expect to be stranded for 9 months, but they adaptedâmaking
do with whatever little they had until a solution emerged.
Thatâs exactly how you should approach financial planning. Life keeps giving
us unwanted surprises when we least expect them.. be it COVID-19, Job losses,
Recession, Inflation, or market crash.
Ask Yourself:
¡
Can your budget adjust if your income
drops?
¡
Do you have insurance to handle
unexpected medical expenses?
¡ Are you flexible enough to change your financial
strategy when needed?
¡
Do you have an advisor to guide you through
difficult times?
¡
And most importantly, IS YOUR PLAN FLEXIBLE ENOUGH
TO ADAPT TO CHANGING ECONOMIC CONDITIONS?
đ Mission Objective:
Build financial
flexibilityâbe ready to change directions (asset classes) when necessary,
without derailing your long-term goals.
The idea is to make sure that your financial plan is Smart, Adaptable and
Flexible Enough.
The Power of Patience: Trusting the
Journey
But throughout the 286 days in space, every single day, both Sunita and Barry had to wake up, stay focused, stay motivated, TRUST EACH OTHER, AND HOPE THAT HELP WAS ON THE WAY. And that too Day after Day after Day. Every single Day.
So stay focused, stay motivated, TRUST YOUR FINANCIAL ADVISOR (FINANCIAL PLAN) and you are sure to reach your Financial Goal.
Wealth-building is the sameâit doesnât happen overnight.
Final Thought:
¡
Are you willing to stay invested when the market
seems slow?
¡
Can you resist the urge to panic-sell
during downturns?
đ Mission Objec
tive: Building Wealth is
an Endurance Test. Requires more discipline than even a marathon. Patience is a
superpower. Stay the course, and success will come.
đ Conclusion: Prepare Like an Astronaut,
Invest Like a Pro
Sunita Williams and Barry Wilmoreâs journey wasnât just a test of
enduranceâit was a masterclass in resilience and preparation.
Your financial journey may not involve floating in space, but life will springing
up unpleasant surprises, crises and uncertainties. The question is:
Will you be prepared?
đš Is your emergency fund is in place?
đš
Is your Investments truly diversified?
đš
Do you have a long-term plan in place?
đš
Are you flexible, and adaptable and most importantly ensure Emotions do not affect your decision-making process?
đš If the answer is YESâCONGRATULATIONS.
Youâre on track. Keep going.
If you answered NO to any of these, NOW is the time to act.
You donât need to be an astronaut to
master survivalâjust a smart investor.
đ Start building your financial spacesuit
today!
"I'm curious to hear your storiesâhave you ever faced a financial crisis
that tested your resilience? How did you overcome it, and what lessons did you
take away from the experience? Share in the comments below, and let's learn
from each other's experiences."
Regards,
Srikanth Matrubai
Author : DONâT RETIRE RICH
All the best,
Srikanth Matrubai
https://t.me/joinchat/AAAAAELl4KUnaJzi-JJlDg/
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