Airport closed, landing not possible
What does a closed airport have to do with your life?
I mean a lot as you will find out shortly.
Imagine you are a pilot, you have almost reached your destination and now want to register for a landing at the tower. Then you will learn:
Landing not possible. Slope closed.
Wow! What now? Stopping and waiting is not possible in aviation. You have a certain amount of fuel on board and when it is used up, the engine stops. And you won't get very far without an engine.
So what to do?
Fortunately, flight preparation takes place before every flight. There you will find out that your destination airport is blocked. With good flight preparation, there is little chance that you will find yourself in such an uncomfortable situation. In addition, every flight preparation means that you have at least one alternative airport up your sleeve.
You have always a plan B.
Turn off and then head to the nearest alternate airport. The problem would be solved.
What does that have to do with my life?
Oh, very much.
In terms of income, we can learn a lot from flying. The top priority is to leave nothing to chance, plan everything and have a plan B.
Few people have such a plan B. What happens if your source of income runs out tomorrow?
How long can you stay afloat without an income?
How many years or is it months?
Unfortunately there are people with whom it would only be a few days. My coach said:
...until the fridge is empty.
Learn from flying. Safety is always the most important issue here. Build up a second income. If you have built it up, you will definitely benefit from it. At best, you have two sources of income, and that is certainly a huge advantage. You live more relaxed.
But one thing is important, similar to flying, deal with it beforehand, not only when you need it. That if you now have a secure income, build up a reserve income even though you don't need it. Because now you are in a comfortable situation.
Most only look for alternatives when it is actually too late. When the job is gone, you can usually only react and not act. Then there are no options. You have to take what comes because you can only survive for a limited time.
Similar to flying. If I have enough fuel on board, I can choose where I land, which airport I fly to. When the fuel runs out, I have to land even if it is a field or a meadow.
How do you build up a reserve income? There are many options these days.
If you are interested in the topic, with WA You are on the right slope.
All the best and have a nice day.
Evangelos
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Great post Evangelos! Thanks for such practical advice. It strengthens the reason why we need to take our business seriously or other opportunities. All the best to you on your 2020 journey and beyond. Fitzgerald
*** Hi Evangelos! ... great write-up! ...
... yes, you've got some very helpful, practical thinking on board!
... and you've made an excellent point about two income streams....
did you know that the typical millionaire have three income streams to work with?
perhaps some of the factors to consider are the sources of the streams and the quality and quantity of them as well ...
thanks for a most insightful post, cheerio ... :) ***
Thanks Keishalina,
3 streams would be fine. We all here work on that.
Have a great Day
Evangelos
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Good Point. Love the example of flying and Plan B.
My Dad always said to me whatever you do in life never put all your eggs into one basket.
In the beginning, when I was younger, I did not understand the real meaning but when I was 25 I had to make a decision on how to invest my savings and the sentence of my dad came into my head, it was so clear for me than.
Cheers Sylvia
I agree, one basket for all eggs is not the best idea.
Have a great week.