How to Survive a Bear Attack: First Step

Bears are fast, deadly, and unpredictable. The first step in learning how to survive a bear attack, is Awareness.

Watch this video. If you’re like me, you’ll have to watch it several times to believe what you saw.

The wisdom of awareness often comes one minute too late. It’s easy to miss what you aren’t looking for, isn’t it?

Life is like that. We never think it is going to happen to us. Until it does.

• The day you get the doctor’s diagnosis.
• The day you lose your job.
• The day you become suddenly single.
• The day you retire.
• The day you realize you’ve lost 40% of your investments…again!

Want more guidance? Check out our article Women and Money Mistake # 1.

So how do you survive the attack of the bear market?

Be Aware: If you’re going to walk in bear territory, avoid unnecessary risk. Enjoy the journey, but travel prepared. You can’t predict if, when, or where you might run into a bear. Knowing how to protect yourself  before the attack is vital to your survival. Remember the saying, “Hope for the best, but plan for the worst.”

• Understand the unpredictable nature of the beast.
• Know your options.
• Know how much you are willing to risk.
• Have an escape plan. That’s what fire drills are all about.

Don’t Run. Start to run and fear will overtake you. You won’t win. A rational plan is made with a calm mind. Be aware, make a plan, adjust for current circumstances, and make a choice you can live with. Stand your ground.

Don’t Walk Alone. Making judgments in a bubble of isolation, listening to the financial news channels as your sole source of information, is not wise. Read articles contrary to conventional wisdom and try to understand things from a different perspective. Truth lies somewhere in the middle. A guide who has made this trip before has the wisdom of experience to advise you.