Desperate financial plans

Perhaps one of the worst things you can do with your money or financial planning is to act out of desperation or emotion.

Here’s why I say that:

My wife loves me. Do you know how I know my wife loves me? Because… on my berfday, she goes out of her way to get me whatever I want. And, many years ago, I developed a taste for the confectionary… and the best of the best can be had at a little bakery called Sugar Buzz. Oh My. This place has some of the best cupcakes I ever done eaten. A few years ago, I went a little crazy and wound up in a food coma. But, something good came of it all. All that cupcake eatin’ got me thinkin’ about being hungry in business.

I was recently reading something like 75% of small business owners, solopreneurs, independent contractors…etc. and so on…use their own personal savings to fund their business.

On the surface of it, it makes sense. Banks don’t usually lend to very small businesses and self-employed types. During the 2008 financial crisis, something happened in the banking industry.

It was a subtle shift with a huge impact. Those that relied on banks suddenly couldn’t rely on them anymore. Funding dried up. Savings were drained. People cashed out of their investments after the crash…meaning they locked in massive losses.

What a shame.

You’d think people would have learned their lesson. But… nope. Look back over the past year. 2020 was hell for many businesses, unless you were a major retailer. About 3 or 4 weeks into the lockdowns and shutdowns, a lot of businesses went belly up. They burned through all their cash, and had nothing. The government, of course, stepped in with financial relief, but these businesses were totally unprepared for a personal catastrophe.

That right there tells you something about the fragility and short-term nature of a lot of businesses. A great many of them are 30 days away from bankruptcy.

Dood. I mean, seriously, that sucks. Hardcore.

They say it’s good to be “hungry” in business. Lazy business owners don’t have incentive or motivation.


But, there’s a fine line between hunger and desperation. When the well has run dry, and you’re scrambling around for money, life’s not fun.

What’s the solution? Well, my friend, I’m glad you asked. It’s simple, really.


Specifically, you need to start saving more money than you are right now, while times are good. Well, not good, but… better than they were 12 months ago.

David Lewis, AKA The Rogue Agent, has been a life insurance agent since 2004, and has worked with some of the oldest and most respected mutual life insurance companies in the U.S. during that time. To learn more about him and his business, go here.