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IN THIS CHAPTER

Defining and reaching for financial security

Dealing with crises

Tapping opportunities during tough times

Achieving financial independence and feeling financially secure are admittedly subjective assessments. A nest egg of $200,000 may seem like a lot to some people but not to a high-income earner who is accustomed to spending $100,000+ annually.

Now, for many people the feeling of financial security isn’t simply a matter of how much money you have to your name. Numerous other factors may contribute to feeling secure financially, which I help you to understand.

In my work as a financial counselor and educator, I’ve also seen people for whom having a certain level of wealth to feel secure is a moving target. And those targets tend to keep getting bigger and bigger over time once a given lower targeted amount has been achieved.

In this overview chapter, I walk you through determining what financial security means to you, assessing where you are now, and helping you think through what you need to do to accomplish your goals. I also survey the landscape of crises, both personal and in the broader economy, which you should be prepared to handle. Finally, I discuss how to best position yourself to benefit from the inevitable opportunities that present themselves during tough economic times.