How to Prevent Personal Financial Disasters

List: Posted: 03/28/11

Financial disasters can happen to anyone at any time.  Maybe they come in the form of a crash in the investment market that you have chosen, or maybe your company will be hit with future layoffs.  Financial disasters have many faces, and doing what you can to prevent them is essential.  Here, we will examine some ways to help keep them from happening to you.

One way to help protect your money against financial disasters is to create a savings account.  Ideally, at least a quarter to a third of your income should be saved or invested in order to help you prepare for retirement, accidents and injury, and other major life events.  Having a significant financial savings built up can help you make it through layoffs, market crashes, family emergencies, and whatever else life can throw your way.

Another great way to protect yourself against financial disasters is to create diverse investments.  Putting all of your money into stocks, real estate, or any other singular avenue of investing is exceptionally risky, and you want to have multiple options.  Remember that just because a market is profitable now does not mean that it always will be. 

 

Consider the purchase of hard assets such as precious metals as well as investments in stocks, bonds, CDs, or real estate.  The more diverse your investment portfolio, the lower the risk you are taking.

Ultimately, preventing financial disasters is a combination of good savings and good investing.  When you can manage these two things, it can be easy to stay both safe and sane no matter what financial storms come your way.

Credit And Debt Counseling Services

  • 21715 Filigree Ct
  • Ashburn, VA 20147
  • (703) 724-0243
  • 21715 Filigree Ct
  • Ashburn, VA 20147
  • (703) 729-0635
  • 43330 Junction Plz Ste 105
  • Ashburn, VA 20147
  • (703) 788-4800

    Blue Ridge Tax, Inc. is a licensed CPA firm in Virginia. The firm provide tax services to individuals and businesses. IRS audit representation service.

    • 42779 Chatelain Cir
    • Ashburn, VA 20148
    • (571) 201-5268

    The material in this article is for informational purposes only. The views expressed in this article are those of the author and do not necessarily reflect the views or opinions of Local.com. See Additional Information

    More about local.com Features

    Socialize With Us
    Business Top Searches
    Recently Added Coupons

    Copyright 2017 Local.com Ltd - US Patent 7,231,405 - Privacy Policy - Terms of Service
    Advertise with Us - Claim Your Business Listing - Contact Us - FAQ - Site Map - Some data provided by Acxiom.