How to Survive a Bear Market.
More often than not, when you are receiving information on how to survive a bear market, it is probably coming to an end soon anyway and you will have already survived so to speak if you are still working and have a few bucks left. But just in case this slow down; sub-prime mess; or recession has longer to go than you are used to, here are some thoughts on how we survived previous periods such as this.
1. If you are trying to sell something in the stock market, forget about how high it was at one time because it bears no relationship to where it is now or where it can be sold. (you can add real estate to the same thinking)
2. As you think about how long these things can last, double your best estimate as that will help you in planning for the more likely outcome.
3. Refocus your values on what is important in life and add even more time in endeavors that have nothing to do with stocks, finances, and business.
4. Once you have decided on when times will change for the better, start to formulate a plan as to how you can capitalize on the undervalued assets that will be available for the buyer with courage of conviction.
5. Contact at least two (2) ministries that you are aware of in your community and offer to help them in the area of financial stewardship. Whatever they need, try to be their in house development officer to promote giving and stewardship.
6. Get back into the Word of God if your personal devotional and quiet time has been lost in this shuffle. As Glenn Repple reminds us everyday, get the study guides to read the Bible thru in a year and start it now!
7. Stop reading lists like this and get back to doing what you do best along with items 1 thru 6!
When we all are able to say as David did in Psalm 27:1. "The Lord is my light and my salvation; whom shall I fear? The Lord is the stronghold of my life; of whom shall I be afraid?... then nothing will frighten us."
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