Welcome to SolidPlanning.com. Solid Planning is a site where our dreams, strategies, and hard work are combined to produce tangible results. On this site we will review books, tips, tricks, and strategies, looking for ways to build our plan to meet the 2009 goals posted in the far right column. As we make progress we'll bring you along with articles and stories on this site. We welcome your suggestions and feedback along our journey so please feel free to leave comments!

Jan 30, 2009

What's Your Contingency Plan?

In prior articles we have focused on ways to save money, manage risk, reduce taxes, and maximize investments. However we missed a very important subject, Contingency Planning.

With the economy in trouble and layoffs becoming common place, individuals need to ask themselves what should, or what will, you do if your income and benefits are suddenly impacted? If you receive dreaded news, do you have a plan in place to adjust your expenses? Do you know how long can you maintain your lifestyle? Have you evaluated your expenses and listed out the things that can be or should be immediately reduced or cut? Do you know what options are available to you?

Our answers to many of these questions is NO. Therefore, we will be building our contingency plan over the next few weeks. Articles focused on building our contingency will be placed in a new category called "Contingency Planning."

It's our belief that contingency planning will allow us to sleep better at night because we have faced our fears and made a plan to manage them.

Do you have a contingency plan?

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