Recover from Financial Panic by Investing in Yourself

The financial crisis has affected many people and involved losses on many levels –jobs, income, money in the stock market, a certain comfort level, retirement funds, a sense of security, dreams for the future. And, inevitably, these feelings of loss are accompanied by a period of grieving. Ever since Dr. Elizabeth Kubler-Ross first identified the stages of mourning in her seminal book, “On Death and Dying,” bards, mental health experts and pundits have waxed philosophical about this process.

These stages are universal and can relate to any catastrophic personal loss. Kübler-Ross maintained that the steps do not necessarily come in any particular order, nor are all of them necessarily experienced by everyone. If you or your loved ones have lost money, trust or confidence, evaluate where you are in this process by the stages and comments below:

• Denial – “Others may be worried about money issues but this can’t be happening to me.”
• Anger – “Why me? I haven’t done anything to deserve this financial mess.”
• Bargaining – “I’ll do anything if you just help me secure my retirement account.”
• Depression – “I’m so discouraged, what’s the point in even trying to save?”
• Acceptance – “These problems are serious, so I might as well prepare for the long haul.”

Dr. Kubler-Ross describes the final stage of acceptance as generating the energy to reinvest in new objects. As you begin to recover from the economic upheaval, don’t you think you will be best served by investing in your own wellbeing?

Tune in all week as we give you some tips for taking care of yourself in this financial crisis. And to help you get started, click on the title above to take you to our article, Sandwiched Boomers: 7 Tips on Fighting Inertia.

It has been three months since the 7.8 earthquake that devastated the Sichuan province of China, killing 70,000 people, injuring 375,000 and leaving more than 5 million homeless. Over 7,000 classrooms were destroyed and close to 10,000 children died in the tragedy. With the one child rule in China, there was an outpouring of grief as many families lost their only child.

In the opening ceremony of the summer games, 9-year old Lin Hao, accompanying flag bearer Yao Ming, represented hope for the Chinese poeple. Lin Hao was a student at the Yuzixi Primary School in quake-epicenter, Wenchuan County. He not only survived the earthquake but, after getting out of his classroom, went back into the rubble to pull two classmates to safety. During his rescue he was hit by falling rubble and suffered a head injury. And while waiting for help, he encouraged his classmates to sing, to keep their spirits up. When he was asked why he risked his life, he said that he was the hall monitor and it was his job to look after his classmates.

One of our readers commented that the most important lesson the Bejing Olympics can teach us is to be a good sport, a gracious loser and a generous winner. Although Lin Hao is not an olympian - at least not yet - his heroism makes a grieving country proud and, while still mourning, allows all of China to enjoy the celebration.