Originally posted April 2, 2012.
You wake up with a start. It’s pitch black. You hear an odd noise and than another. We have all been in just such a situation. But this time, in your fuzzy nighttime haze, you note that neither your alarm clock light is on nor the night light in the hall nor the back porch light. How strange. Strange, maybe. Scary, more probable. Now what? What’s your next move? How fast can you react?
In such a potentially dangerous setting, exactly what plan do you have in place for your family? My quick guess is that you have no plan, no plan at all. It is sad but true that most of us are simply reactionary, whether in matters of personal or financial security. It makes little difference as both are intertwined if you are truly in the business of logic, preparation, and strategy. I make no differentiation between personal and financial security. I approach each in precisely the same way, asking where am I most vulnerable, where are my greatest risks? How do I reduce vulnerability and risk to a tolerable minimum? It is impossible to eradicate vulnerability and risk, but with logic, preparation, and strategy, as noted above, you can position yourself to put the odds on your side every time.
I write a lot about inertia as it relates to both personal and financial security. You and I are in the same boat as to inertia. We both know that it is often difficult to translate your best intentions into an actionable model leading to a strategy. If you are a subscriber to Richard C. Young’s Intelligence Report, you long ago learned how I package a risk-first strategy of portfolio management. Whether personal or financial security, your ability to get off the mark and figuratively or literally pull the trigger is the lynchpin to success. If you share the powerful ability to defeat inertia, you are way ahead of the game as you are in the distinct minority. Looking back at my 2 a.m. night fright scenario, it is long past the time you developed an A-to-Z plan of action. I have done this, and the more I update my plan, the more concern I have on a number of fronts. Quite honestly, personal as well as financial security is a work in progress for all of us. I have decades of experience, but my job is never complete. There are always loose ends, always more to study, and ever-changing conditions to which I must adapt. If you’re anything like me, you are keen on the fast-moving pace of technology. Which means, regardless of the best-laid plans, we are always shooting at a moving target. Your thinking and strategy always needs to be up to date and refined.
In upcoming NIGHT FRIGHT Part 2, I will begin laying out some of the details of my own home-based personal security plan. Remember, we are looking at an evolving plan—one that needs to be constantly fine-tuned. One facet of the plan I will look at first for you is the subject of night vision optics. I think you will agree that being able to see in a darkened emergency setting offers a real edge. Just check with our military. In advance of my next installment, begin to consider your own vulnerability and risk profile. You will be ahead of the game and most likely ready to kick off a top-down, home-based personal security strategy.
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