Hope for the best, plan for the worst.

Hope for the best, plan for the worstIn Suze Orman's new book, The Money Class, she writes advice for both the employed and the unemployed. For the employed her advice is "hope for the best, but plan for the worst". She also mentioned that 1 in 5 Americans are unemployed or underemployed. These are not people who were simply poor employees and were expendable. These millions of people include hard working and talented people who were simply caught off guard. Sadly, there are lots of people in this group who only took half of Suze's advice: hope for the best.

On May 1, 2011 we found out that a Navy Seal team had infiltrated Osama Bin Laden's compound and killed him. We also found out that as the SEALs initiated their attack one of their helicopters was damaged and had to land immediately. Losing that helicopter at that crucial minute did not stop them from successfully completing their mission, however. They had already planned on losing that helicopter.....and running into any number of other problems. They planned for the worst, and because they worked, trained, and prepared for the worst they were able to continue doing their jobs without missing a beat.

What is the worst that can happen at your job? How are you preparing for that and other scenarios today?

 
The Quarter Roll is published to provide personal insights and opinions on everyday ways of saving and managing money, budgeting, and reducing debt. The Quarter Roll does not give professional accounting, legal, or investing counsel. The ideas, examples, and advice presented on this site are solely the opinion of the authors based on his or her personal experiences. All photos courtesy of The Quarter Roll, iStockphoto, or Dreamstime.   All rights reserved. This site is best viewed when using Adobe Flash Player. free money magazine