Click here to listen to this post on Youtube!
Let’s be real. Times are scary right now. I just watched a panel on financial investing in the upcoming year and the consensus was that the market is volatile. The new presidential administration is creating supply chain disruption. The whole AI thing is creating uncertainty; Is it an industrial revolution or merely a tech bubble that could pop at any time? And now, bird flu is affecting the price and availability of eggs. (They didn’t mention the eggs but everyone else is talking about it). What can you do in a volatile economy to feel more secure?
Let’s start with the most basic problem. I’ve been substituting egg-free eggs in my baked goods when I can. If the recipe calls for two eggs, I use one egg and one egg’s worth of egg replacer. I can’t tell the difference. Full disclosure: I actually didn’t start doing this because of the current egg crisis. I was already doing it because I feel kind of bad for the chickens. If omelets are your thing, this might not help you, but if you bake a lot, give it a try!
They always say that you should diversify your portfolio when investing. I assume “they” refers to stock brokers and financial advisors. Maybe right now isn’t the time to invest all your money in the stock market. Or even to put all your money into a high yield saving account. I’m no financial expert, but something tells me that having a back up plan for a back up plan is currently (and maybe always) a good idea when it comes to money. Don’t do like your grandma, hiding all your money in the walls, but at the same time, it might not be a bad idea to hide a little bit of cash in the walls just in case? (Do NOT try this if you live in an apartment.) Savings, CDs, stocks, cash, even crypto currency all exist. Some of these are generally more volatile than others, but right now? I wouldn’t bet it all on any one of these, the way things are going.
My parents taught me to be well-rounded. As a kid, I was obsessed with one thing- gymnastics- for a long time, even believing that I would someday make my career as a gymnastics coach. Eventually I found other interests and quit gymnastics by the time I was in high school. Even as an adult, I find that I get tired of doing certain kinds of work. Now, with the possibility of AI taking over a lot of jobs, and the volatility in the US economy due to the aforementioned administration, it may be worth considering having multiple income streams instead of just one. That might mean working in multiple industries. Or it might mean having multiple jobs in one industry. It all depends on your specific interests and talents.
So in other words, especially in this day and age, don’t put all your eggs in one basket!
Thanks for reading!
Rebecca H. Lee
Visit my narration website at becksvoice.com!
Follow me on social media!
https://www.linkedin.com/in/rebecca-h-lee-audiobook-narrator/
https://bsky.app/profile/beckcentric.bsky.social
https://www.youtube.com/@RebeccaHLee
https://www.instagram.com/beckcentric
https://www.facebook.com/beckcentric
https://www.tiktok.com/@beckcentric
