THE HOLIDAY IS OVER, BUT THE RECESSION
LINGERS ON

Neal A. Deutsch, CFP^®

Published in Rivertown Journal, January 2009

The candles have burned out, the tree is in a bag at the curb, the holiday bills are starting to come in and the ho-ho-ho-ing has been replaced by “when is spring going to get here already?”

2008 has been a long and hard road for everybody, regardless of religion, age or background. All the financial planning, retirement planning and budgeting you have been so diligently keeping up on seems to be for naught. Do you give up and throw in the towel now? I think not. I am a great believer in the theory that frustration brings opportunity and that life should be lived in the present- we can’t change the past, and we have no control over the future. From time to time, economic and political events make people anxious and fearful about their futures. Rational thinking gives way to panic-induced decisions, and we seem to think that worrying will change the outlook of our lives.

As a Financial Planner, I could give you a checklist of things to look at, how to budget and how to cut down expenses. Instead, let’s all just accept, of the time being where we are, and how to deal with the scary times we are in:

Forget about yourself: focus on others-Uncertainty can drive people into themselves, making them feel isolated and helpless. The best strategy here is to go in the opposite direction, expanding your connections with others- focusing on helping them transform their negatives into positives. The more you contribute in this fashion, the less you will need to worry about your own situation. You will become a source of confidence for everyone else.

Forget about your things: focus on your relationships- In uncertain times, people get focused on what they own, and holding tight to material things. Focus on deepening the power and possibility of all your relationships- family, friends, co-workers, clients and those you interact with on a day to day basis.

Forget your losses: focus on your opportunities- Things you may have had or have gotten used to over time sometimes disappear or diminish. Trying to regain what you had at one time is like replaying a game expecting the exact same outcome. A better strategy may be to start a new game- using new energies, new ideas new tools and new resources. As the world changes, new opportunities suddenly become available that we never imagined, perhaps far greater than anything we envisioned in our past

Forget about the future- focus on today- The future is an abstraction- it does not yet exist except as an idea. The only future that you have is the one you create through each day’s contributions, achievements and results. Focus on what you can do over each 24 hour period- become an expert about yourself.

Forget about what’s missing: focus on what’s available- When things change for the worse, many desirable resources are inevitable missing, including information, knowledge, tools, systems, personnel, and capabilities. These deficiencies can paralyze you, making you feel that you are incapable of making decisions and take action. Work with each and every opportunity at hand, and your confidence and future will continually grow.

Forget about your complaints: focus on your gratitude- When times get tough, everyone has to make a fundamental decision: either complain or be grateful. In an environment where consumer confidence is at an all time low and negative sentiment is rampant, the consequences of these decisions are much greater. Complaining only attracts negative thoughts and people. Gratitude, on the other hand, creates the opportunity for the best thinking, actions, dreaming and results to emerge. Focus on everything you are grateful for, communicate this, and open yourself up each day to the best and possible consequences.

Finally, find a mentor, and someone to talk to and share your visions. I tell my wife and partner, Elizabeth daily how much I appreciate her. Who’s your Elizabeth?

My thanks to my coach and mentor, Dan Sullivan of The Strategic Coach^™ for helping me bring the above to you, and for you. Until next time...

Neal A. Deutsch is a Certified Financial Planner^™  & Registered Securities Principal, offering securities through First Allied Securities, Inc., member FINRA/SIPC.  Neal is President of Chestnut Investment Group in Suffern, NY, helping people with financial planning since 1984. Please feel free to call Neal at 845.369.0016 or email him with your questions at neald@chestnutinvestment.com. Visit his website at www.chestnutinvestment.com