At the risk of bringing the whole world to its knees again, we are declaring that Armageddon of the financial world has absolutely been avoided.
What we now call the GFC, began rumbling in 2007, has changed our lives. Whether it was money that was lost or some savage lessons learned – probably both. It was historic in its magnitude and there is a chance kids today will never see a similar event. Although we never saw the unemployment rate that occurred during the great depression, there was no shortage of fear across the world that we were about to. The widespread fear is our everlasting memory of the GFC.
The everlasting lesson is that cheap debt can really test the theory of “fortune favours the brave”. Many of those brave people with loads of debt were smashed.
But the fact you can read this means you are still standing, so don’t miss the opportunity to pat yourself on the back for that. Celebrate that you are still able to construct a financial future for your family. Older and wiser, we can go on. WooHoo!!