How Do You Define Financial Security?

by Hutt Bush

Perhaps, for purposes of this discussion, we can accept that absolute security does not exist . . . in order to allow a practical conversation about relative security. A very simplistic way to define SECURITY is FREEDOM FROM CONCERN OR WORRY.

Let’s take on financial security first. Do you consider yourself financially secure? Why or why not? Without violating any confidence about your personal financial situation, can you share with the group how you define financial security?

Again, ABSOLUTE SECURITY would mean that you had enough money for the rest of your life (unknown duration) and it was always going to be safe and liquid and available to you . . . in an economic climate that did not erode its purchasing power through either inflation or deflation . . . and on and on.

The point being . . . that we have to come to terms with relative financial security to achieve a certain comfort level. A certain amount of cash to last for a period of time that you decide is “sufficiently secure,” a livelihood, macro-economic conditions that allow you to maintain or expand your security.

It’s always interesting to challenge assumptions. In this time of an ailing economy, it’s useful to examine what we require to feel secure. What is it for you? How much are you concerned about financial security?

Copyright 2009. E. B. Hutt Bush and Coaching for Results, Inc.

Copyright 2009-2012. Being Point®, Inc.
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