Your financial ark

Noah’s Ark can teach us some things about weathering the current financial turmoil.

Noah had to plan ahead. It wasn't raining when Noah built the Ark. Yes, we know it'll be raining in 2009. Pouring hard. But the real storm is within you. So is your ark. Noah had to plan ahead. So do you. You cannot worry about the money you have already lost. Plan ahead, budget, save. Cut expenses. Build your ark. It's never too late. The river doesn’t stop flowing just because your in trouble.

Don't listen to critics, just get on with what needs to be done Only one in three Americans were building their retirement ark before the credit crunch. Most have less than $15,000 savings. Most ignored the coming flood, laughing at ark-builders for wasting their money. Don't listen, do what's right.

Remember, the Ark was built by amateurs, the Titanic by pros. The Pros: Wall Street, Corporate America, Washington, Cable anchors, White House, Congress, SEC, the Fed. They are the best and the brightest marketing gurus, but they lost billions. Listen to their happy talk ... and you'll sink in the flood. You know what's best for you. Trust your inner voice. You cannot trust anyone but your self. If you are going to invest in the market understand how to take advantage of trends and market indicators. If you don’t know what you are doing, put your money under the mattress.

Two heads are better than one. Remember, "they boarded in twos." You're not alone. Find a mentor. My marketing mentor told me a year before the market went bust that we where entering a bear cycle. He spotted the market break in October and told me to short into rallies. Those who followed his advice made a lot of money while others lost everything. Buy and hold is not good advice. It makes no sense to hold in a down market.

Most people don’t captain their financial boat. They just follow a captain who doesn’t care what happens to them. For those who held, it will take the better part of 10 years to get back to where they were in October. My mentor doesn’t tell me what to buy and sell. He tells me why he thinks a particular transaction has potential. The responsibility for setting my course is mine.

Think long-term, if you’ve built a good ark you will survive the rapids

Build your future on a solid boat. Set goals, figure out what you have to do to reach your goals. Many people are of course and scared to death. The are frozen by fear. Successful people start now and build for the future. Savings and education can help you set your course, but don’t wait for better times. Take advantage of today’s opportunities Today's recession is a great time to rethink your goals. Just do it.

Don't miss the boat, the a good ark will keep you from sinking. Action now. Yes, the market's below last year's peak, even below the 2000 dot-com peak. Make sure you know what you are doing. Look for opportunities. The market will recover. Houses that where valued at $750K in October are selling for $30K today. Steady your ark. Recoveries happen too.

Don't forget, we're all facing a wild financial ride. How well we survive depends on how well we outfitted our arch. America is a great land of opportunity, even in a bear-recession. If you kept your credit cards under control, if you’ve saved and invested soundly, your ark is in good shape. If you are in trouble trim your sail, batten your hatches and ride out the storm. When you have a chance, throw a lifeline to someone who is in more trouble than you.

Speed isn't always an advantage. Arks are made to weather the storm. They are not made for speed.

Woodpeckers inside are a larger threat than the storm outside. Attitude is the key to success, it's an inside job folks. Successful investing does not depend on a "positive mental attitude." It begins with knowing what you are doing and having the confidence to do it. Remember, you job in a recession is to protect your resources.

When you're stressed out, take a time out. Turn within. Listen to the still small voice. Pray. Meditate. Exercise. Go for a walk. Take a break. Call an old friend, kibitz. Help someone who is worse off. Answers come when you give your subconscious a chance to work for you.

Sometimes a force bigger than you takes control and guides you through the rapids. If you are frantically trying to steer, you are not going to be listening.

Sometimes, you just have to look for the rainbow in the storm and steer for it.