When events are out of control, such as an unplanned pregnancy, unremitting pain that requires hospitalization, an impending natural disaster or financial catastrophe, there are a few things we may think about.
1. Family: Are they safe, secure and protected? Where are they? Are we able to get in touch with them and tell them what’s going on? When the unplanned and unexpected occurs you and your family need to have a backup plan in case of an emergency, evacuation or an escape route. Do we have a plan already in place of where to meet and how to get in touch? Do you have provisions there? It is best to have everyone together.
2. Next, we should be thinking about our sensitive financial information. Is it locked and in a secure location located in our home and in an external safekeeping place? Examples include, a public storage facility, a lock box, a locker or better yet in a safety deposit box at our bank or financial institution.
3. If you have files and paperwork at home that contain sensitive information, can it be digitally scanned or do original documents need to be retained? It is a good idea to have both. Your original documents need to be secured in a location external to your home. This is not your garage or a box buried out in the backyard. When you make digital scans of this information, make two copies. Back ups also need to be placed in these external locations on external drives. This includes household information, and if self-employed, business information.
a. The reason for two backups is in case a file is contaminated or it becomes corrupted.
4. Getting your ducks in a row means setting up the frameworks to ensure that you have a minimum of at least 2 backup funds for your household expenses – savings and emergency accounts. If you own a business, similar and different frameworks would apply. Depending on your needs and situation, your attorney can instruct you further. Ensure that each person in your family has their own savings account in which they have access to the money – according to their age.
a. Training young children now to start saving will help them realize that when the unplanned event occurs, that they have had the foresight to plan ahead. Some of these documents may be legal and take some time to prepare, such as power of attorney, healthcare power of attorney, insurances in case of disability, insurance policies that help in the interim between time off from work and starting a new job, planning for your final expenses, such as funeral planning, a will, and estate and wealth management. Amendments can always be made later.
5. Communication: we cannot always see ahead to when the unexpected will occur, but we can plan ahead as much as possible. On the same note, we cannot always rely on our technological and cellular devices to work when we need them to. We might not have a signal, call service due to maintenance, overload, updates or other issues. Criminals have technological devices that can scramble our phone to disconnect or suspend services temporarily. An example of this is the electronic device that can unlock a vehicle without the original key fob or open a garage door in the same way.
a. What is your backup plan to get help, support, supplies, medical help or even to communicate your whereabouts? There are different types of CB radios, ham radios (require licensing), walkie-talkies can be used. Professionals in communication industries may have other options for residential customers.
b. If you have home security services, and the power goes out, does your system still work? If it’s wireless and the internet goes out, and you don’t have a generator, what is your backup plan?
For me personally, I have sets of backups for both personal and business, housed in external locked facilities, and the original paper documents in humidity sealed containers to prevent fading, damage or tampering. I have frameworks set up for both my business and personal information, so that I’m safe and protected in the event of an unplanned evacuation or situation. Obviously, there are some things out of our control that we just can’t plan ahead for, a contingency plan failed or the plan just didn’t work. Sometimes, we create a plan to protect us and it’s not the right type of plan for our lifestyle. In those instances, we have to make difficult choices in the middle of chaos or during an emotional crisis.
6. Procrastination leads us into all kinds of trouble, chaos and disruption. Some things cannot wait until the last minute or when something happens. There was a time in my life when there was a chain reaction of events that produced a negative outcome. Eventually, I returned to homeostasis, but it was up and down for a bit. All these events were out of my control; I could not stop them, nor could I prevent them – and I couldn’t slow them down. I had to do the best I could with the chaotic circumstances. There was a lot of scrambling to prevent financial destitution, loss of my home, loss of my car and material assets. It was because of the poor choices of another person in which I was indirectly affected, as were others. This was not a financial opportunity.
There was a life lesson here. I needed to have the foresight to plan ahead for the unexpected, such as unexpected travel and temporary relocation due to increased criminal activity.
The Good Samaritan rule applies here.
PC: Marut Khobtakhob
