The story of Noah is an old one, recently retold (and completely reinterpreted) by Russell Crowe… although I must say not retold very well! Many ancient cultures mention a Great Flood in their writings or legends. Why is it that this story has been so compelling and retold over millennia? It has to do with survival. Warnings of a great storm and the plans set in place to ride out that coming storm…
Noah had the advantage, so the story goes, of God warning him of a coming catastrophe and what he needed to do to so that he and his family could survive. The account tells us that Noah listened to the instructions, made adequate preparations and when the storm came, he and his family were able to survive.
How does this relate to our financial future you may ask? Well, we too could face huge financial storms in our lives; redundancies; life changing events; economies grow and shrink, events that often leave us exposed and vulnerable. What lessons can we take from old man Noah then?
For one thing… seek the right advice. Seek a qualified person who takes a personal interest in you. Listen to the advice and implement it. Don’t wait until the storm hits! Act immediately and make needed adjustments. Noah had never seen rain before, yet he acted on the advice given and built his Ark. He was able to keep his head above water, so to speak, while everyone else drowned around him.
His adviser also believed in diversification, two of every kind was to go onto the boat. This was good advice. Even today this is regarded as a good strategy.
So even if you have never experienced a financial storm in your own life, always be prepared for one, make sure you build your financial ark with the aid of the right advice. It could save your (financial) life!!