The Power of Financial Resiliency

The word resiliency is defined as “the capacity to recover quickly from difficulties, toughness.” This is often used relating to physical wellness and stamina and the ability to recover from an illness. Financial resiliency is the ability to recover from an unexpected financial burden, like a medical bill or car repair that you didn’t see coming.

The Everything Bubble

Many financial experts are referring to the current economic situation in the US, and much of the world, as the “Everything Bubble”. Around the years 1995-2000 we had the tech bubble, otherwise known as the dot.com bubble, where the NASDAQ, which has a predominance of tech stocks, quintupled. The NASDAQ then plummeted by nearly 77% from 2000-2002. Fortunes were wiped out and companies with huge valuations and no earnings disappeared after first being valued at billions of dollars, without any real products or earnings.