Since this series began in January 2018 there have been over 1000 Posts from Your Archives where bloggers have taken the opportunity to share posts to a new audience… mine. The topics have ranged from travel, childhood, recipes, history, family and the most recent series was #PotLuck where I shared a random selection of different topics.
In this series I will be sharing posts from the last six months of 2020
It is an opportunity to showcase your writing skill to my readers and also to share on my social media. Which combined is around the 46,000 mark. If you are an author your books will be mentioned too, along with their buy links and your other social media contacts. Head over to find out how to participate: Posts from Your Archives 2021
This is the first post from author and finance expert Sharon Marcisello with a post that is relevant for most of us in the uncertain financial climate we have been experiencing in the last ten months.
Reversal of Fortune by Sharon Marchisello
Even though stock market indexes have almost returned to pre-pandemic levels and unemployment rates are declining again, all is not well. While some industries are thriving, others are a long way from recovery.
Only time will tell if they’ll go the way of buggy-whip manufacturers after the invention of the automobile.
Event planners and owners of conference halls and theatres are still hurting. With so many free Zoom webinars now available, can organizers really charge as much for a virtual experience? All the businesses that supported large events are now scrambling for customers, and the smart ones are reinventing themselves. Could we see the return of drive-in movies?
My husband works in the airline industry, which has been hit particularly hard. In February, employees received record-breaking profit-sharing checks. In March, the airline cut its schedule by 90% and was burning through $50 million a day. Thousands of employees were encouraged—or forced—to take voluntary leaves or exit packages. Government assistance was the only reason the airline didn’t immediately furlough most of its workforce and demand pay cuts from those who remained. We all know that’s coming once the assistance runs out.
We used to take a lot of cruise vacations; in 2019, we took four. This year, none. We’d scheduled a cruise for April, but then the cruise line suspended its voyages ahead of the no-sail order. I still receive weekly emails from travel agencies touting enticing sailings—first for fall and winter of 2020, now for spring and summer of 2021—but I’m not biting. It took us over 60 days to get our refund from our April cruise that got canceled, and the no-sail order keeps being extended. I feel sorry for owners of travel agencies and people who work in the tour industry. I believe demand will return one day, but how long can they hang on until that happens?
Stocks in these industries have suffered accordingly. Investors have made money through short-term speculation, but if you purchased these stocks before March, you’re still in the red.
No one can predict the future, determine tomorrow’s winners and losers, so how do you prepare?
If you’re an investor, diversify. Tech stocks are hot now but don’t put all your money there. Remember the tech bubble at the turn of the century? If your nest egg is spread out among different baskets, you’re unlikely to lose it all if one sector tanks. As I mentioned, the Dow is soaring again, but a different mix is driving the averages.
If you’re an employee or a business owner, build expertise that will transfer across industries. Take advantage of downtime to learn new skills or update proficiency. Never stop networking and don’t burn bridges.
Having emergency cash is essential. I’ve done several posts about the value of accumulating and maintaining an emergency fund—at least three to six months’ living expenses in a liquid, low-risk account. The only reason most of the airlines are still in business was that they had billions of dollars in cash on hand, accumulated when business was booming. Even so, only government assistance saved them from burning through all that cash before revenues could return. Such a reversal of fortune!
Look for ways to shrink your financial footprint. Cut unnecessary spending, reduce debt. The less money it takes to sustain your lifestyle, the longer your emergency funds will last, and the less likely you are to suffer a reversal of fortune.
What are your thoughts about preparing for the unexpected? I’d love to hear your comments.
©Sharon Marchisello 2020
About Sharon Marchisello
Sharon Marchisello is the author of two mysteries published by Sunbury Press, Going Home (2014) and Secrets of the Galapagos (2019). She is an active member of Sisters in Crime.
She contributed short stories to anthologies Shhhh…Murder! (Darkhouse Books, 2018) and Finally Home (Bienvenue Press, 2019). Her personal finance book Live Well, Grow Wealth was originally published as Live Cheaply, Be Happy, Grow Wealthy, an e-book on Smashwords. Sharon has published travel articles, book reviews, and corporate training manuals, and she writes a personal finance blog called Countdown to Financial Fitness.
She grew up in Tyler, Texas, and earned her Bachelor of Arts from the University of Houston in French and English. She studied for a year in Tours, France, on a Rotary scholarship and then moved to Los Angeles to pursue her Masters in Professional Writing at the University of Southern California.
Retired from a 27-year career with Delta Air Lines, she lives in Peachtree City, Georgia, doing volunteer work for the Fayette Humane Society and the Fayette County Master Gardeners UGA Extension.
Books by Sharon Marchisello
My review for Secrets of the Galapagos November 10th 2020
What an amazing location to set this novel which rapidly turns a cruise of a lifetime into a murder scene, and a deepening mystery about the star of the Galapagos islands, a giant tortoise called Tio Armando.
These celebrated islands are heavily reliant on tourism for the funding of conservation projects involving the unique flora and fauna, some of which is near extinction. There are several interested parties in maintaining this lucrative business opportunity and some are therefore keen to cover up discrepancies and even murder.
Things are not adding up on board the luxury cruise liner and the mystery deepens as one of the passengers appears to have disappeared under suspicious circumstances. This is followed as the passengers disembark for guided tours of the various conservation projects to find that promised exhibits are missing.
Giovanna is not only there to take in the sights and is on a mission to expose and get justice after being fleeced by a habitual conman, discovering in the processs that she is not the only one aboard the ship who has been taken to the cleaners. The subject of her investigation however has his own agenda, with prospective victims already drawn into his schemes. Lives are at risk as well as fortunes and the action heats up in a race against time.
The author has written articles on her visit to the Galapagos Islands and clearly spent her time well on researching the various islands and conservation efforts. This gives the novel a very authentic feel.
The action is played out on the ship, in the waters rich with marine life surrounding the islands and ashore as the group of sightseers visit scientific projects and the capital of the Galapagos.
The players are diverse and some of them you wouldn’t necessarily want to be trapped on a cruise liner with, but all have a part to play as the mystery unravels. There are some lovely interludes as we tag along with the passengers exploring this incredible region, where we are introduced to the wonders of the nature to be found there. And there is also the burgeoning romance between Giovanna and the young detective, who may be the only person who can bring all the threads of this mystery together to provide us with a satisfactory conclusion.
This is an exciting adventure as well as a murder mystery with the bonus of being a wonderful introduction to the Galapagos Islands.
Read the reviews and buy the books: Amazon US – and: Amazon UK – follow Sharon: Goodreads – blog: Sharon Blogspot – Twitter: @SLMarchisello
Thank you for joining us today and I know that Sharon would love your feedback.. another post from her archives in two weeks.. thanks Sally.
Reblogged this on Pattys World.
LikeLiked by 3 people
Thanks for sharing Patty..hugsx
LikeLiked by 1 person
Thank you, Patty!
LikeLiked by 1 person
Great advice from Sharon about having an emergency fund if we can. The pandemic has certainly been ripping through those for many people, if they had one to start with. I never thought that we’d be so in the thick of this a year later. A great share, Sally. Crossing my fingers that our economies will begin a recovery this summer.
LikeLiked by 4 people
I agree Diana.. it must be a struggle for parents especially those who have been furloughed. Hopefully as say the economy will pick up again soon..hugs
LikeLiked by 3 people
Great advice from Sharon. Its so sad looking, and i hope we will win the fight against the virus, and the other upcoming issues. If not, we the citizens of the political Europe will head over to the aisles, funding a USA 2.0. Lol
LikeLiked by 2 people
The first priority is the vaccines and sorting out their disunity.. it is a fight we will only ever win together..xx
LikeLiked by 2 people
I fully agree, Sally! Lets hope they will make this in time.
LikeLiked by 2 people
Thanks for your comments. I hope, once we come out of this, more people will realize the importance of “saving for a rainy day” and having contingency plans.
LikeLiked by 3 people
Reblogged this on Sharon Marchisello and commented:
Thank you to Sally Cronin for sharing my post on her Smorgasbord blog.
LikeLiked by 2 people
Thanks for letting me post Sharon, very helpful..xx
LikeLiked by 1 person
Sally, thanks so much for sharing my post with your audience! And thanks again for tacking on your wonderful review of Secrets of the Galapagos.
LikeLiked by 2 people
Pleasure Sharon very helpful and the review was well deserved..hugs
LikeLiked by 1 person
Very interesting to hear Sharon’s view of today’s situation. Definitely, those who put something aside for a rainy day will be glad they have done that. I agree with her advice to diversify. I hope the economy will get better, but right now with so many people being unnecessarily made jobless at such a critical time, I really wonder how this is supposed to help the economy. We just have to hope for the best, and try to be prepared for the worst. Glad to have been introduced to Sharon and her work. Thank you, Sally.
LikeLiked by 3 people
Thanks for reading my work. I agree that many people are suffering unnecessarily now, just because they were in the wrong line of work at the wrong time, and not because of anything they did wrong.
LikeLiked by 2 people
Thanks for sharing your thoughts Anneli… it is not something we will spring back from and I know that many sectors here, particularly in the hospitality industry may never recover.. Pubs that do not serve food have been shut for almost a year… very tough for all those working in the sector and other similarly impacted.
LikeLiked by 2 people
The ones who bounce back may have to reinvent themselves, parlay their skills into another industry that is adapting better to the current situation. (Like Imogen in An Odd Job Girl!)
LikeLiked by 1 person
Lol…nice one Sharon.. I agree many skills such as people management are not industry dependent and creative and determined people will always do whatever they have to..xx
LikeLiked by 1 person
Such a blow to the whole country.
LikeLiked by 2 people
I was just looking at my statement for the stocks that our financial advisor has us in. It’s crazy that the market has continued to flourish during a pandemic.
LikeLiked by 3 people
Yes, last year especially, the stock market has not reflected the true state of the economy. Profits can be made in bad times as well as good.
LikeLiked by 2 people
I guess that there are sectors that will always do well.. including certain pharmaceuticals, service providers with so many people working from home, and of course the supermarkets.. xx
LikeLiked by 2 people
And surprises, too. Who knew how much working from home would take off? Those companies that were already set up for it were able to adapt much better. But some businesses can’t operate remotely.
LikeLiked by 2 people
Sobering thoughts but the advice is encouraging and very welcome.
LikeLiked by 3 people
Thank you, Alex.
LikeLiked by 1 person
Sharon always talks great common sense..xx
LikeLiked by 1 person
Always worthy advice. Scary times indeed in the markets when hedge funders are busy shorting stocks too. Don’t even get me started with silver. Greed is everywhere. ❤
LikeLiked by 3 people
It’s like a game for those who can afford to play.
LikeLiked by 2 people
It is frightening when your life savings are being manipulated for sure.
LikeLiked by 2 people
Always someone there to take advantage..♥
LikeLiked by 2 people
That is fantastic and far-reaching advice, Sharon – thanks for reposting, Sally. Toni x
LikeLiked by 3 people
Thanks Toni..hugsx
LikeLiked by 2 people
This is wise and sound advice from Sharon. I hope many folks have the rainy-day funds to get them through this historical time. Yes, thankfully, it seems like the stock market is not affected too much. Thank you for sharing, Sally.
LikeLiked by 3 people
Thanks, Miriam.
LikeLiked by 2 people
You’re welcome, Sharon.
LikeLiked by 1 person
Sharon always offers great common sense strategies.. Thanks Miriam..hugsx
LikeLiked by 2 people
I can always use some, Sally. ❤
LikeLiked by 2 people
♥
LikeLiked by 1 person
Pingback: Smorgasbord Cafe and Bookstore – Weekly Round Up – 31st January – 6th February 2021 – 1960s Music, Bloggers, Book Reviews, Hormones, Shortstories, Slowcooking and Funnies | Smorgasbord Blog Magazine