Thursday, August 12, 2010

Houston Elder Lawyer Reveals Your Most Critical Skill In This Economy

By Kimberly Hegwood, Houston Elder Lawyer

How can you maintain your sense of personal peace in this environment...while NOT simply "ignoring" everything? I've got four suggestions for you.
 
1) Firstly, DO be very selective about (even, yes, choosing to ignore) certain media elements that have an agenda of spreading fear. 24-7 news would make no money if it stopped preying on people's fear. (You realize the news networks are not a public service, right? They are in the business of getting ratings to sell advertising. Period.)

Have you ever noticed your feelings after watching just 20 minutes of CNN Headline News? Everything is going to pot. You'll find negative stories on the environment, war, disease, crime, and of course... the economy. It is laughable what they will come up with just to broadcast some bad news. A few weeks ago I spotted this "headline" story on the tube along with some sad-faced puppies: "PETS: Feeling the Foreclosure Boom!"

Everyone is selling crisis! This is true, from the media to the politicians. So stop watching CNN all day, refuse to participate in this circus, and instead start planning your first (or next) million. Seriously.
 
2) Look for the good news. Now, I am very careful here, because I am aware that some of my Houston estate planning clients and friends really are feeling the pinch, but let's ALSO look at the bigger picture, especially in comparison to the early 80's or 30's.

This was the topic of last week's p0st, and, again, I can send to you if you missed it. Short version: We are NOT in the Great Depression (by the numbers).

You can always find doom and gloom if you want to. So turn off your TV and focus on other activity. It will significantly help your inner peace!
 
3) Get out and do something profitable. That may mean actually starting that exercise regime you've been putting off. Take up a new hobby. ANYTHING to get your mind in a more "profitable" mode! Go do it.
 
These steps will NOT solve the problems in your wallet, and in the economy. However, how you choose to respond will affect your peace, and, actually...this WILL impact how you spend your money. Please, for your sake, tune OUT the fear, and tune IN to smart preparation.

4) Stave off fear by knowing actual numbers. The great problems many businesses and families face when money's "tight" is SIGNIFICANTLY compounded by not knowing. Any number of pessimistic scenarios play out in your head.
 
So here is how to fix that. Sit down with an advisor, get the real facts-and if they are bad, you can still come up with a plan. You will find that laying out action steps with somebody competent changes everything.

And, of course, we can sit with you, if you would like in this process--or point you in the direction of a highly-competent advisor.

I am personally dedicated to the success of your family -- and your state of mind! Can other lawyers say that?

Warmly,

Kimberly Hegwood, Houston elder lawyer

PS--If you are wondering if your Houston estate plan is up to date, we have space for TWO families to meet with us to review their plans. Call our office right away (281-218-0880) or send me an email to set up one of these special sessions. You will NOT be sorry!

PPS- Read more on Houston Elder Law here.