Financial wisdom

For those of you looking above the trench line, we wrote something last August (read it here) that still applies.

Not that we are all that prescient. This morning, we read something from Todd Harrison that really struck home:

"...There are few opportunities in our lives to literally watch history tick before our eyes. These are the times our grandchildren will study, like we study the Great Depression, puzzling over the bizarre circumstances that came together to form this perfect storm.

"What is most misunderstood is that this not only a financial crossroads, but a societal one as well. The repercussions of government policy and our individual actions will echo loudly throughout future generations.

"We have a choice to make. We can face our mistakes with bravery, accepting consequences as they come, confident we can meet the challenge while rebuilding a more sustainable structure; or we can continue to let fear and greed drag us along the road to ruin.

"The former, while more challenging, is the path of perseverance. It is the only noble road, one that accepts responsibility for our actions and paves the way to better days.

"They say admitting you have a problem is the first step towards solving it. It’s about time that we, the people, practice what we preach."

(Click here for full article).