Plan for the future

What is important to us?

No one can predict the future and know what awaits him. And no one can and should think of everything. However, some things need to be taken care of in advance and possible difficulties in the future prevented.

Pension savings, allocations for health insurance, life insurance, home insurance, etc. these are just some of the things we should think about in advance.

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Without a savings and investment strategy, or without a quality financial plan, our future can be very uncertain. The future is, however, uncertain in one way or another, only with certain insurances, it is still a little more certain and secure.

Start by asking yourself what is important to you when it comes to the future. What couldn’t you do without? What are you afraid of? What if you get sick? Are you retiring early? Who will take care of you? Will the amount of your pension be enough to cover the cost of living?

We should have an answer to all these and other similar questions.

For some people, retirement is important, for others the education of children, some savings for the ‘black days’, some spend all their money and live from salary to salary, some plan, some have no plan.

There are times of frequent crises, rapid changes, and great turbulence in the market. We need to become aware that each of us must take care of our own future.

People who retire today can expect a pension of about 40% of their salary. That is why you need to save or invest in order to improve your financial situation in retirement with the income from investing and saving.

How to plan an alternative future

The future is, by definition, uncertain. In other words, you can’t know what the future t brings. In many cases, it is the world without the final possible you. These alternative futures, spoken of by others.

The future is, by definition, uncertain. In other words, you can’t know what the future holds. In many cases, it is a world of infinite possibilities. These alternative futures, mentioned by other sources, could be more or less realistic. In other words, they can be based on evidence from the present and the past. On the other hand, they may have no foundation other than pure fantasy.

When deciding what kind of future you will believe in, you could say that it is best to base your decision on evidence from the present. Consequently, in this article, we will explain three ways to create an alternative future. This future can help you create literary stories or strategic analyzes. What they have in common is that they are based on the evidence provided to you by the present.

Scenario analysis

Creating replacement futures can be helpful. This could help you reduce uncertainty and manage risk. Alternative futures determine the different forms in which the situation can develop. This could help people make decisions or reduce risks. It can also help you determine what steps you need to take to achieve a given goal.

You need to understand that alternative future scenarios do not predict the future itself. Still, I can help you imagine a possible future. People use this technique when there is considerable uncertainty about what will happen. Experts do not recommend people to use these techniques when the level of uncertainty is very low.

On the other side of the spectrum, they say they are not suitable for cases where the situation is too chaotic to predict the future with certainty. These techniques are useful because of the way they get you thinking. They force you to think about factors and futures that you would not otherwise consider.

Simple scenarios

The simple scenario technique is the easiest. First, you need to clearly define your object of analysis. It can be anything, from the future of the whole world to the future of a continent or even a small town. Once you recognize a goal, it’s time to choose the forces, factors, or events associated with it. For example, in the case of a country’s future, the economy or political system may be important. Likewise, the revolution could be an important factor with a clear impact on the future.

Once you select your object and determine all the factors, you create four scenarios for the future. Some things remain as they are now. In the second, everything gets worse. In the third, everything is better, and in the end, it is completely different from all the others.

You then need to create a table with scenarios on one side and factors on the other. From there, you can assign neutral, positive, or negative values ​​to each factor. This will depend on how these factors unfold in each of the scenarios. Finally, after removing factors that have the same value in all scenarios, you can start writing your future. To do this, you need to consider each factor and its values. They will make the biggest contribution to shaping that future.

“This man is prudent who neither hopes nor fears anything of uncertain events in the future.”

Continued: PLANNING VS LEAKING