New Financial Year - Time to Prepare; not to Predict

The year 2011 until now has been a year of global turmoil. End of January saw Egypt and other Middle Eastern countries facing revolt, while earthquake shook New Zealand in February. In March, Japan witnessed massive earthquake, followed by tsunami. The country is now struggling with radiation issues. In the meantime, allies have launched an offensive on Libya. Oil prices are going through the roof. We also had our share of earthquake tremors in Northern parts of the country.  These are testing times for all of us.

During such turbulent times, people start predicting outcomes and future. On psychological level, they are trying to prepare themselves for the worst. Also predicting is an easier way out compared to preparation. However, prudence suggests that instead of predicting the outcomes of uncertain events it is better to take stock of our financials and prepare for financial crisis - if in case it occurs.

Financial crisis could be in the form of a fall in market, slow down in economy or job losses. There is no way I am suggesting this will happen. I am not predicting anything