The Uncertainty Continues...but you can thrive!

The government has revealed their plan to inject a $700 billion into the financial markets to stabilise things, unfortunately it will take several weeks to implement this plan, and essentially time before the markets are feeling the effects of that. This lack of certainty is creating havoc in the stock/financial markets across the world.

Lack of financing is causing problems in all areas - if there are no short term funds available for businesses of all sizes to cover day-to-day expenses - this is exacerbating the problem, and is contributing to a recession so the sooner we can loosen up those funds the better. Investors (not speculators) are not able to participate with the tightening credit markets - investors have historically helped to burn through these inventories. Let's hope those funds will be made available to all.

The huge sell off and declines in the the stock market highlight the emotion in the market place creating further instability. Fear is the predominant emotion right now with the economy and the stock market - fear & greed are not good guides. They often lead to the fall of markets because people act irrationally when fear is the primary motivator.

If you have made some mistakes recently with real estate or other investments here are a few important things to consider.

• Take responsibility: Own up to errors in judgement - if we don't take ownership of the problems that we create we cannot effectively move on from them.
• Don't dwell on past mistakes: Everyone has made mistakes and the the main thing following one is to determine how to logically navigate it to remain whole financially, or move forward and leave it behind.
• Learn the lesson involved: There is something to be learned from every setback. Very successful companies/ventures have oftentimes been born because of failure initially. Understanding why the failure occured is critical in order to ensure that the same mistake does not occur again.
• Educate yourself in the areas that you need more knowledge. Learn - hear what the experts are saying - reliable ones with a good track record. Read a book a week - you will soon become an expert and be your own best advisor.
• Stick with your core competencies: Know your strengths and work from your core competencies. We all have them - be familiar with your strengths, stick with what you know and are good at.
• Be creative and in action: There are always opportunities no matter what the market is doing - start a side business, buy an REO (real estate owned by banks) - create financial security for yourself and your family...you can do it!