Recession-proof Bank Deposits – Guaranteed

We all watched the news in amazement on January 15th when Captain Chesley “Sully” Sullenberger skillfully splashed US Airways Flight 1549 down in the Hudson River right there in New York City.  All 155 passengers and crew members survived in the process.  Captain “Sully” had a simple, yet compelling explanation in his interview with CBS news anchor Katie Couric:  “One way of looking at this might be that, for 42 years, I’ve been making small, regular deposits in this bank of experience: education and training. And on January 15th the balance was sufficient so that I could make a very large withdrawal.”

I’m always shocked when I talk to someone who is losing their job and then realize that they’ve gotten no new knowledge or training since getting that position 20 years ago.  How could that possibly happen?  In working with a laid off $230,000 accounting professional recently he said, “Dan, for 26 years I’ve had my head down and pencil up.” 

Inflation and declining stock values have eaten up a whole lot of people’s financial investments already this year.  But here’s a no-lose proposition for you.  Deposits made in your own personal development can never be eroded or taken away.  If you read a book, attend a seminar or participate in a network discussion, that information and knowledge can never be downsized, outsourced, fired or uninstalled.  It’s yours forever and can quickly give you a reservoir that will make you a top contender for a job or put you in a position to launch your own business.  When your opportunity shows up you’ll be able to make your own large withdrawal and easily outshine the competition.

So here’s a question:  What if over the last ten years you had invested just $1500 a year in buying great books, going to two seminars a year, starting your own mastermind group, and spending 20 minutes a day on idea sharing sites like 48Days.net?  How would your life be different today?  How many new options do you think would be available to you?

So here’s an idea – if you have $250 this month I’d suggest you go to a seminar or buy some books rather than investing in that GM stock you’re broker’s been suggesting. 

You will be the same person in five years as you are today except for the people you meet and the books you read. – Charles “Tremendous” Jones

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2 Responses to “Recession-proof Bank Deposits – Guaranteed”

  1. Larissa Says:

    As a stay at home homeschooling Mum who has been out of the workforce since the beginning of 1997. I have no idea if or when I will rejoin the workforce. I keep up to date with computer operating systems (I worked in admin previously) and I also have expanded my knowledge as I’ve been teaching my children. I couldn’t imagine a life without learning and growing, so what you suggest, that someone has worked at the same job day in and day out for 26years without adding to his knowledge is completely mindboggling. Thank you for the enlightenment.

  2. Andy Traub Says:

    brother dan, great words! It reminds me of the thousands of dollars wasted at colleges every year by students who really aren’t learning much. I keeps spending money on MYSELF and I think it’s paying off.

    Seriously though, if your broker is telling you to buy GM stock you need a new broker. 🙂 The only investment I make anymore is in my family and my personal business and spiritual development. The returns are pretty amazing so far.

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