Always the Traffic Jam, Never the Accident
Bad things happen to good people. It happens with money all of the time.
I know plenty of people who have or are experiencing some form of financial hardship. And I’m not talking about anything related to the current economic downturn. I’m simply talking about life throwing a curve ball. Several of them happen to be in my own family.
- A co-worker is on a one way trip to bankruptcy. I hear the creditors calling him from over the cubical wall.
- Both my brothers are struggling with credit card debt that they cannot afford.
- My sister lives paycheck to paycheck and has to beg from family and friends to get by.
- My parents hope of a comfortable retirement is dwindling with each year that passes.
So far in my life I have been very blessed. My parents made sure that my siblings and I had the opportunity to pursue higher education. It is at least one of the reasons they are so far behind. They worked three to four jobs between themselves in order to give us all that great gift. I don’t think I will ever be able to repay them for their sacrifice, although I try.
I ended up getting a good job after college and am engaged to a gorgeous woman who shares my financial goals. With those advantages, I’ve been able to help one brother, my sister, and even my parents over the last few years. It makes me very happy, at least at first, to be able to come to their aid. I just wish that I had the magic words that would help them all out of their respective financial troubles for good.
In the world of money and finances I am doing pretty well. Thus far I’ve managed to avoid being in a financial accident myself, but I am often caught up in the eventual financial traffic jam caused by those around me.
I have in the past reached out to those I love and help them. I can see myself in that situation again in the future. I am fearful of not being able to come to their aid. My most sincere desire in this world is to see my friends and family happy, healthy and without financial burdens.
The start of any fateful journey begins with a first step. The road to financial independence, and my ultimate goal of giving my future wife, my family, and my friends everything they deserve, is no different. That journey favors the prepared. No matter what your own personal goals are, the path always starts the same way. You have already heard this advice before, but it bears repeating.
- Have an adequate emergency fund
- Invest for the long term in tax advantaged accounts
It’s all common sense for personal finance blog readers but not so to most of those I love. It hurts to realize that there may still be more than a few traffic jams ahead of me.