Does Security Exist?
By Sojourner on 02-07-2008
With a lot of uncertainty in the market, it is natural to seek for security. Many investors are purchasing gold instead of holding on to paper currency in fear of inflation. Similarly for a long time, people who are averse to risk like to invest in real estate which often gives a sense of security. Conservative investors are drawn to blue chip stocks for similar sense of stability. However when we worry about our basic needs such as housing, health care, education, and even retirement, it is difficult to find a sense of security anywhere in the current financial climate.
In my perspective, security is an artificial illusion. There are many unexpected circumstances that are outside of human control that could easily shatter our fragile sense of security. Disasters can strike from any direction from volatility in the stock market to natural disasters such as earthquakes and wild fire to unpredictable misfortune. I don’t want to sound morbid or negative but this is just part of the human experience. The key is how to have a balance sense of reality and to find ways to weather these storms of life.
Different personalities respond to these circumstances in different ways. As an Idealist Investor, I seek for ways to turn current challenges into opportunities. I see many potential prospects out there. Many investors have begun to investigate emerging markets overseas. With a stagnant market, this is definitely a prime time to diversify your portfolio to look into growing markets and new opportunities rather than focusing on stagnant sectors. I see difficulties as a time for innovation and stepping out of the comfort zone. The greater is the difficulty, the greater is the push to think outside of the box. This may be a time to learn new skills or to update your training, especially if your job is on the line due to the economic downturn. I don’t want to minimize your financial losses but I have tremendous respect for those who could persevere in any kinds of circumstances. Difficult economic times definitely separate the mediocre from those who could rise above the rest and to continue persevering despite all the setbacks.
Along the same lines, several recent issues of the Business Week magazine have run articles focusing on innovation. For example, in the article “Catching the Innovation Wave” (Business Week, January 30, 2008), authors Hagel and Brown shared insights on the innovative process. They recommended strategies such as finding the “relevant edge”, reaping the benefits of synergy by creating “innovations hothouses”, and creating incentives for risk-takers. Creativity may come from appreciating differences and respecting diverse backgrounds, strengthening the links between technology and practice, as well as cultivating networks. What are some ways that you can ride out the waves of 2008?
 |
 |
 |
 |
Posted by JackDermody on Feb 11, 2008
I'll go one step further. For this Idealist, security is a complete mirage. I lived in the Peace Corps with very little money, no electricity or running water -- and could never have felt closer to people, to the earth, and to God. And we're going to die. All that happens in the world is much ado about nothing: All this building and competition is just keeping us busy so we won't get bored and there's plenty of opportunity for people who want to feel important to build for themselves treasure chests and toy chests and phallic-like buildings and gaudy palaces. |
| |
|
Posted by Sojourner on Feb 12, 2008
It's great to hear from fellow idealists on the blog. While I definitely value community and social activism both in my personal life and in broader societal perspective, I think that it is still important to figure out ways to be financially savvy and viable in today's economic climate. A recent AARP article talks about how women actually spends a large part of their lives being single due to longer life expectancy and divorces. Hence in response to bsaunders' comment, I would challenge any woman to be financially independent but that doesn't in any way negate the role of community in one's life. In response to JackDermody's comment, being financially aware and to be able to weather the storms don't negate social activism either. |
| |
|
Posted by bsaunders on Feb 20, 2008
When I really let my opinion be known, I think the key to both financial stability and community is decoupling "how I acquire money" from "how I spend my time." Letting oneself be a low-paid doormat for a community-based organization is a bad idea. So is working 80 hours a week, cultivating no community, and driving oneself to a debilitating heart attack. |
 |
 |
Posted by Badlands17 on Apr 3, 2008
I would definitely agree with the Idealists here in that I don't think money or posessions are all too important. It's downright sad how some people spend thousands of dollars just to look cool, have a cool house, car, etc. It's why more people than not are in debt. |
This Idealist believes that preoccupation with "security" reflects a loss of a sense of community. No one wants to be poor in old age. However, poor in old age with community taking care of you is vastly different from being a bag lady, which is what people fear today.