The ongoing 2020 global Covid pandemic is unlike any other phenomenon we’ve known in history. It’s like a gentler version of a violent world war, without any cannons fired….only silent deaths in lonely hospital rooms. Those among us who were not affected by loved ones catching Covid had to contend with the crushing effects on the economy, with widespread joblessness and a lot of businesses closing.
As a parent of four kids, I prayed earnestly for my family to be spared from the debilitating effects of the pandemic. That we may be safe and strong enough to withstand everything. Thankfully, there’s food on the table; we are not homeless; and there are no crippling financial liabilities to deal with. I had some losses, sure, but it was not enough to send us out on the streets. God is good.
So dealing with this whole coronavirus affair has seriously got me thinking about averting any crisis in your life by preparing proactively and planning effectively. Don’t wait for a tsunami to come before you flee to higher shores. Here are the valuable life lessons I’ve learned in this historic 2020 pandemic –
1. Don’t just have one source of income, diversify always.
If you regularly got your paycheck for the whole 8 or 9 months of the quarantine, be thankful, you probably belong to the lucky ones. It’s common knowledge that millions lost their jobs or had their working hours cut short. Businesses were closed or downsized. Can you imagine how many people will now be unable to pay their mortgages, rents and credit card payments?
I’ve been self-employed since 2016 so this uncertain period is also stressful for me. My business dealing with hospitality (guesthouse) was good as dead since our usual clientele of foreign tourists stopped coming. We had a condo rental for Chinese tenants but they left too. As a blogger, events stopped and payments were coming late from the agencies. Thankfully, online shopping is on the upswing and my e-commerce business in America is the one keeping us alive now. I can’t imagine depending on just one source of income; this extraordinary time has taught me not to.
2. Health is wealth.
This is really self-explanatory but it’s importance has never been more emphasized as NOW. We realized that the coronavirus never spared the young or old. Quite scary, but we can certainly fortify our body to fight it at all cost. No harm’s done if we eat the right food, take the needed vitamins and engage in regular exercise. The trick is in the determination not to get sick ever!
3. Always save up for the rainy days. Emphasis on always.
We can never predict the unexpected. Even if a tsunami or a big earthquake will occur once in our lifetime, it can still occur at some point or any time. The 2020 Covid pandemic is proving this to be true. I have to admit that I took out my insurance policy out of the drawer to review it once again. Times are just uncertain now. I heard too many sob stories from friends about their relatives laughing and eating with them yesterday and then suddenly gone. These days, people encounter death like a thief in the night.
So food for thought: how prepared are we? As a responsible parent, I’ve always believed in leaving something behind for my kids even if three of them are old enough to be on their own. It’s called legacy planning. So I have my sights on something like the AIA All-In-One 5/10 Year Pay. As its name implies, I pay for my policy for only 5 or 10 years and my loved ones will get an amount up to 5 times what I paid for in the event of my passing. Moreover, policy holders get cash benefits in case of accident, disability or critical illness.
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