Money Talk Daily

Posts Tagged ‘depression’

Something made me think today of my grandfather and his financial wisdom.

He was married and had one child (my mother) during the depression of the 1930s. He told me how important it was that he had a backup source of income at that time. When he was laid off from his regular job, he used his training in electricity to wire farm houses for extra income so the family could continue to eat.

Fast forward to 2009. I’m not necessarily predicting a second Great Depression. But I’m also not claiming such an event is impossible. What I am suggesting is that having a backup plan for earning money is still an excellent idea. Consider it a form of “income insurance.”

I have mine. Can I encourage you to work on yours?

Craig