Seven Years of Famine!

As I look back from 2002 to 2009, I was struck by the fact that it was indeed a Seven Years of Famine so far.

In Exodus, Joseph the Dreamer , son of Jacob, was asked by the Pharaoh what his dream meant. It was about a forthcoming 7 years of famine. And he advised the Pharaoh to issue an order in the whole of Egypt to make sure that 1/5 of the harvest are saved. And this is what Egypt did and they survived till the next good harvest finally resumed. They did not just survived, they even made a big growth in their economy as the countries and kingdoms around them purchased their goods from them.

Relating it to what is currently happening to our country and the world, it is a stark reality of the same thing that happened in Joseph's time. And it's a vicious cycle. It happens every so often though varying in depth and expanse. Only lately has this economic famine hit its greatest devastation of the world economy that even the economic giants folded on its knees.

What's the lesson behind this bible story in relation to Steps to Riches? Very much relevant and apparent. But let me spell it out to those who still don't get it. Those that had saved and invested their hard earned money in the last seven years will have the sure chance for survival no matter what happens in the next coming years.

Let me show you why? If you had been receiving a salary of 50K/month and you had save 20% of it or 10k/month and invested it wisely on an instrument that earns 12% (note some Mutual Funds even performed better than 12 % in the last 7 years) for seven consecutive years, by this time, you should have more than a Million Pesos and you can survive for more than 20 months even without working. And you can invest your 1M and it will earn more than 120K per month sufficient for your needs.

Now check your own savings if you have any. Is it within 5%, or 2%? You wont survive specially if you are suddenly retrenched from your work. You are a month away from bankruptcy.

So where and when do you start. Start now. Pay yourself first. Save and Invest. Reduce your Expense and Increase your income by using your spare time. You may not be able to achieve what you could have if you started earlier but at least you'll be away from being in a debt hole. Start to teach your kids as well.

Look for financial mentors who will show you the way on correct and safe investing and saving. Be careful in choosing your mentors. Ensure it is your benefit they are really after and not your meager income or your few remaining savings. Increase your financial intelligence. Go with people with the same discipline and advocacy. Go and find an IMG Associate nearest you. Or better yet...contact me.

I'll share to you my secret of surviving and thriving in this economic crisis, and you will also have the opportunity to earn additional income for your family too.

God bless.