How can you prepare for financial uncertainty?
There are few industries in the world that have accomplished what the US commercial aviation industry has—an almost perfect record of safely delivering passengers at heights of five miles and at speeds in excess of 500 miles per hour—and it has done so year after year. According to the Aviation Safety Network, “2019 was one of the safest years ever for commercial aviation.”
This checklist defines what you and your family can do in times of financial uncertainty in order to prepare for your future financial well-being. Now, more than ever, is the time to plan for being prepared.
the financial uncertainty preparedness checklist
There are few industries in the world that have accomplished what the US commercial aviation industry has—an almost perfect record of safely delivering passengers at heights of five miles and at speeds in excess of 500 miles per hour—and it has done so year after year. According to the Aviation Safety Network, “2019 was one of the safest years ever for commercial aviation.”
Two things have contributed to this amazing record of safety,and both concern superior engineering. Decades of experience have led to highly effective manufacturing processes of aircrafts and their engines - so effective that the National Transportation Safety Board rarely concludes that mechanical failure caused a commercial aviation accident. The other engineering development has been even more profound: the development of pref-light and in-flight checklists that have virtually eliminated human error.
The commitment to checklists in aviation has been so valuable that medical professionals are taking advantage of similar standardization to reduce or prevent human error. As reported by the World Health Organization (WHO), “The risk of patient death occurring due to a preventable medical accident, while receiving health care, is estimated to be 1 in 300. Industries with a perceived higher risk, such as the aviation and nuclear industries, have a much better safety record than health care does.” Hospitals across the country are reengineering their processes to address this epidemic of technical failure.
Although we can never predict what will happen in the future with 100% accuracy, as your financial advisors we can cut down the risk of danger, just like medical professionals and pilots do, by using a checklist. We understand that financial uncertainty is nerve-wracking, and it is out job to support you through this process. Making sure that your plan is well thought out and will provide you with your financial needs is our job, and we will safely achieve your goals as your advisors.
Your Heron Wealth advisor has advised many individuals and families on how to prepare for financial uncertainty. Here is a checklist of the issues and concerns you should be thinking about.