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Risk Management for Your Life

Risk Management for Your Life

You can handle life’s bumps with ease when you practice risk management for your life. There are four main areas we’ll focus on for risk management: health, career, finance and relationships. Good guidelines in these areas will keep your life flowing easily and help you recover quickly from any setbacks.

Health

Life is hard to enjoy when we aren’t healthy. Manage your risk for healthproblems by following these simple guidelines:

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  • Drink lots of water.
  • Eat mostly fresh, unprocessed foods.
  • Exercise your body for at least 45 minutes, three times a week.

Career

Career risk management will decrease the likelihood of career problems, such as being laid off, fired, or having difficulty in finding a job. Invest time and effort in these areas:

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  • Network with others in your industry and of similar skill set. Networking will help you learn new things that you can bring to your current position, enhance your skills, and help you meet others who may be able to help you if something happens to your current position. You may also find others to bring onto your team earning you a referral bonus and a strong, competent team.
  • Focus on how yon can best help the company you work for — not how they can help you.
  • Always be polite and positive with your coworkers. Even if you are great at your job, if people find you difficult to work with you could be at the top of the chopping block when the company has to cut staff.
  • Keep your resume up to date so you are ready for anything. It could be a job loss or just an amazing opportunity that lands in your lap.

Finance

Decrease your financial risk to easily weather storms and set yourself up to fully enjoy retirement.

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  • Pay cash for everything except purchasing a house (unless you have enough to pay cash for a house as well).  Yow will save tens of thousands — if not more — by purchasing everything with cash and avoiding interest fees, finance charges, and late payment fees. All of those simply go away when you pay cash and you will never buy something you can’t afford.
  • Get a 15 year mortgage. Only buy as much “house” as you can comfortably afford payments on with a 15 year mortgage. The sooner your house is paid off the better off you will be. That mortgage payment can ba saved and invested for the future or used to have some fun.
  • Max out your retirement savings. First save as much as you need in your 401k to get your employer match. Next max out your IRA savings. Lastly, save more in your 401k or similar account.
  • Keep a 6 month Emergency Fund in liquid savings. This is the money you need available for emergencies, like unforeseen car and house repairs and job loss.
  • Lastly, have your financial affairs in order. Always have a will, as well as health and financial powers of attorney in case of disaster. This is to protect yourself, your money, possessions, and your family.

Relationships

Don’t forget risk mitigation for relationships. It may seem a bit odd, but your relationships with friends and family will bring the most fulfillment to your life. With a little care you can nurture positive relationships that will bring joy for your entire life.

  • Follow the Golden Rule: Always treat others as you want to be treated. This simple rule will keep relationships positive and enjoyable.
  • Make time for the people you love. Call them, send cards, and visit when you can. Too often we are caught up in the day to day and don’t think to make time for our loved ones…until it’s too late.
  • Nurture relationships with people who challenge and inspire you. Choose your friends and surround yourselves with people who make you the best you can be.
  • Limit relationships with people who don’t treat you well. Those who are mean, abusive, unkind, and treat you with disrespect do not enrich your life — and do not deserve your time.

What risk mitigation for your life do you need to do today? Share your plans in the comments below. (Photo credit: Risk Management Key via Shutterstock)

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Last Updated on December 2, 2018

How to Flow Your Way to a More Productive Life

How to Flow Your Way to a More Productive Life

Ebb and flow. Contraction and expansion. Highs and lows. It’s all about the cycles of life.

The entire course of our life follows this up and down pattern of more and then less. Our days flow this way, each following a pattern of more energy, then less energy, more creativity and periods of greater focus bookended by moments of low energy when we cringe at the thought of one more meeting, one more call, one more sentence.

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The key is in understanding how to use the cycles of ebb and flow to our advantage. The ability to harness these fluctuations, understand how they affect our productivity and mood and then apply that knowledge as a tool to improve our lives is a valuable strategy that few individuals or corporations have mastered.

Here are a few simple steps to start using this strategy today:

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Review Your Past Flow

Take just a few minutes to look back at how your days and weeks have been unfolding. What time of the day are you the most focused? Do you prefer to be more social at certain times of the day? Do you have difficulty concentrating after lunch or are you energized? Are there days when you can’t seem to sit still at your desk and others when you could work on the same project for hours?

Do you see a pattern starting to emerge? Eventually you will discover a sort of map or schedule that charts your individual productivity levels during a given day or week.  That’s the first step. You’ll use this information to plan your days going forward.

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Schedule According to Your Flow Pattern

Look at the types of things you do each day…each week. What can you move around so that it’s a better fit for you? Can you suggest to your team that you schedule meetings for late morning if you can’t stand to be social first thing? Can you schedule detailed project work or highly creative tasks, like writing or designing when you are best able to focus? How about making sales calls or client meetings on days when you are the most social and leaving billing or reports until another time when you are able to close your door and do repetitive tasks.

Keep in mind that everyone is different and some things are out of our control. Do what you can. You might be surprised at just how flexible clients and managers can be when they understand that improving your productivity will result in better outcomes for them.

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Account for Big Picture Fluctuations

Look at the bigger picture. Consider what happens during different months or times during the year. Think about what is going on in the other parts of your life. When is the best time for you to take on a new project, role or responsibility? Take into account other commitments that zap your energy. Do you have a sick parent, a spouse who travels all the time or young children who demand all of your available time and energy?

We all know people who ignore all of this advice and yet seem to prosper and achieve wonderful success anyway, but they are usually the exception, not the rule. For most of us, this habitual tendency to force our bodies and our brains into patterns of working that undermine our productivity result in achieving less than desired results and adding more stress to our already overburdened lives.

Why not follow the ebb and flow of your life instead of fighting against it?

    Featured photo credit: Nathan Dumlao via unsplash.com

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