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10 economic practices to consider during times of insecurity
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Colorado Springs, Colorado – The biggest resignations are in health care and tech with retail, food service, transportation, education, and first responders close behind. In August alone, a record 4.3 million workers quit their jobs.
Meanwhile consumer prices grew at the fastest rate in thirteen years and the inflation in 2021 is at 5.4% (the highest in 30 years). The pandemic and the move toward remote work have changed our lives and view of the world. Many Christians are asking deeper questions like, “Are we near the end?” or “Is COVID the precursor to the arrival of the antichrist?”
According to Joel Malick and Alex Lippert, co-funders of Steadfast Wealth, the conclusions we come to during times of economic hardship or uncertainty determine how we handle our money, or lack of money. The cost of basic commodities is up by astonishing numbers – gas (42%), food (12.6%), and used cars (24.4%). And this doesn’t include housing.
Malick and Lippert are the authors of Afterwork, an honest look at the changing economic environment, work, and financial planning. Many people, they say, are changing the way they see the world. “Their thought process has changed from open possibilities to the finite well that’s running dry.”
The deadly combination of pandemic-related fear coupled with financial insecurity and negative news has many people depressed and cynical. “What’s driving the angst of many intelligent, successful people is actually fear,” say the authors. People are fearful of the next election, a new strain of the virus, or losing their nest egg. They refer to this as A VUCA World (Volatile, Uncertain, Complex and Ambiguous).
Instead of giving into the contagion of pessimism, Malick and Lippert encourage us to focus on the things we can control such as managing taxes, healthy living, planning, and family. “Don’t burn energy on things you can’t control,” they say. In Afterwork, Lippert and Malick offer ten strategic keys to adopt during the inevitable times of uncertainty. “As time shrinks and purpose becomes more elusive, it’s easy to get depressed and forget that God is in control of our lives.”
SOURCES: www.bloomberg.com/news/articles/2021-10-13/u-s-consumer-prices-grew-by-more-than-forecast-in-september
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To schedule an interview contact Don Otis at 719.275.7775
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