How to Protect Yourself From the Threat of High Inflation

How to Protect Yourself From the Threat of High Inflation

Inflation is a threat because it erodes the value of your money.

Inflation is also a threat because it can indirectly lead to a stock market crash.

When inflation rises, the national banks around the world will eventually have to let interest rates rise to curb that rising inflation.

A hike in interest rates can cause the stock market to tumble.

If the US Federal Reserve (the Fed) raises interest rates in the US abruptly, it can actually cause a stock market crash.

We have had a taste of this several times in recent years, including in 2018 when the Fed raised interest rates four times in a row. Stock prices began to tremble… and fell sharply in late 2018. This led the Fed to lower rates again out of concern for a stock market crash, and the market calmed.

We have had low inflation and low interest rates for many years.

Why should that change now?

Because a lot of money has been pumped into the economy following the start of the COVID-19 crisis.

I won’t go into too much detail about M1 and M2 and other measures for money supply in the US to avoid making the text heavy and difficult to read. You can trust me (or google it) when I say that the Fed has pumped money into the system at a rate we haven’t seen before – not even during the 2008 financial crisis.

When large amounts of money are pumped into the system, it causes prices to rise.

Inflation in the United States has been around 2 percent for many years (on average from about 2000 until recently). This spring we saw a spike. It doubled and measured around 4 percent in May (PCE index).

Fed chairman Jerome Powell assured that the price increases are a passing problem… but he would have to say something like that to calm down the market (imagine he said the opposite – that alone could cause a crash).

Many economists are talking about the threat of rising inflation. Some even talk about possible hyperinflation.

The question I want to answer here is:

What can you do to protect yourself from inflation?

Should You Stay in Cash?

If there is an imminent threat of rising interest rates and falling stock prices, can cash be a solution?

In the short term, it’s fine to have cash so you’re able to take advantage and buy shares in the event of a stock market crash, but in the long term, cash is the worst asset group to hold.

Why? Because of the obvious fact that the value of your money will erode.

If inflation is 4 percent, the value of your money will be halved in 18 years. If it rises to an average of 5 percent, your money will be halved in 14 years. Not attractive at all.

What About Gold?

The advantage of gold is that the amount of it is limited. This means that it keeps its value over time (and even increases in value).

The problem with gold is that it’s a piece of metal that can’t invent products, employ people, or innovate. It’s not as good an asset as stocks over time.

This way of putting it comes from Warren Buffett.

He illustrated the problem with gold at the 2018 Berkshire Hathaway annual meeting.

If you had invested $ 10,000 in gold in 1942 (yes, yes, I know you weren’t alive in 1942, but Warren Buffett was), then it would have increased to $400,000 in 2018.

If you had invested the same amount in the stock market (the Dow Jones index), that amount would have become $ 51 million.

That’s a wild difference, right? A bit of an eye opener.

Why Shares Are the Best Protection

When you buy shares, you are buying a small stake in a company.

Good companies are able to protect themselves against inflation.

How?

Inflation means rising prices.

You need to find companies that can let their prices rise with inflation – or even above inflation.

Think about it.

If everything rises 4 percent, would you stop buying toothpaste or juice because they also rose 4 percent?

No, right?

We’ll continue brushing our teeth and drinking orange juice for breakfast.

Hopefully the wage level will rise with inflation anyway.

Some companies are even better at protecting themselves because their customers aren’t so sensitive to price hikes.

Take Apple’s products, for example.

The average price of an iPhone rose from $ 650 to $ 1,000 in five years.

I remember buying an iPhone 7 in 2016 and for a brief moment realizing that I was paying much more than I had previously done for an iPhone 4.

It was more or less double what my previous phone had cost.

But then it wasn’t the same phone at all. It had a better camera, improved features, and a lot more memory.

In 2020, when I bought an iPhone 11 Pro Max, I paid double what I previously paid for the iPhone 7.

I know Apple has cheaper phones than the newest Pro Max, but I didn’t want the cheapest version.

I wanted the best tool I could find, because I use the phone to make YouTube videos and Facebook Lives, among other things.

… But Don’t Invest Blindly in Stocks

When interest rates rise, there is a risk that stocks will fall drastically.

Did you know that it took 29 years for stocks to regain what they lost after 1929?

Warren Buffett’s lineup with gold and stocks would have looked completely different if he had compared their development with 1929 as a starting point.

We are in a historic stock bubble right now that makes 1929 look like a kindergarten day trip.

Shiller’s PE ratio is a measure of how expensive stocks are. In 1929 it was 30, before the crash. Today it’s 38.

This means that shares are more expensive relative to their earnings today than they were at their peak in 1929.

In other words, you can’t just put your money in an ETF that follows a stock index (such as the Dow Jones index from Warren Buffett’s example).

You risk having to wait almost 30 years for your money to recoup.

What do you do instead?

You invest intelligently in stocks.

You need to invest with an eye on how expensive a company is trading on the stock exchange, and you have to make sure that you invest when it’s cheap or reasonably priced.

You can read much more about this in my free e-book here.

 

 

 

 

 

 

Three Mistakes You Make When Haggling

Three Mistakes You Make When Haggling

The other day on Facebook, I read some tips and tricks to negotiate discounts and rebates.

There were many creative ideas and examples of white lies.

Here are some of the tricks that came up:

  • One person always said “This is above my budget” and waited for an answer.
  • One asked for a student discount… in his seventies.
  • One person said they had seen a better offer elsewhere (a white lie).
  • One stated it was too expensive and waited for a reaction.
  • Someone lied in a house trade by saying the bank only approved a smaller loan.
  • Someone else called up a hotel and asked for 5 dollars less per night.

What’s the problem with applying for discounts and rebates?

There are three main problems:

Your Focus Is on Lack of Resources

What thoughts lie behind haggling?

It’s a mindset of seeing money as a scarce resource, and it’s rooted in a mindset of lack.

That mindset is being reinforced as you haggle and tell little white lies about not being able to afford something.

It may well be that you call it a “white lie” when you tell a clerk that you can’t afford a dress, but it becomes your truth.

What do I mean by that? It’s a phrase that you say out loud, and your subconscious mind is listening in.

When you say “It’s too expensive” or “It’s over my budget”, that becomes the reality you create for yourself.

Your psyche thinks, “Aha, that’s what you want” and begins to create situations that confirm it, over and over again.

Do you use affirmations? Those small, positive phrases that we say to ourselves to affect the outcome?

It can be phrases like:

“I can do this!”

Or:

“There is abundance in my life.”

“I attract prosperity from all sides.”

With the little white lies, you create negative affirmations.

You Won’t Get the Best

The wealthiest people do the exact opposite of haggling.

They pay more for things.

They spontaneously treat their friends to dinner, they give generous tips, and they look for quality when they buy things – almost ignoring price.

They don’t like sales (have you ever wondered why there are never sales in shops like Hermès and Louis Vuitton?)

I got help from a friend when I moved to Portugal. She had lived in Portugal before and could show me the shops and help me get adjusted.

While we walked around and bought everything from drying racks to floor scrubbers, she kept saying, “Get the most expensive one”.

“Why?” I asked.

“It’s better,” she replied.

As we stood by the drying racks, I noticed how the cheap one was light in material. The expensive one was heavy and seemed better quality.

This is often the case. Quality costs more. We already know that. The best ones won’t go on sale.

After she flew back home, I continued looking for the best quality above all.

When shopping for a hair dryer, I thought of my old one that I had left behind.

I had bought it on sale in Lidl shortly after I had been fired on maternity leave (oddly enough, I still remember the price).

At the time, the focus of my life was largely on lack and fear.

That hair dryer smelled of plastic – it smelled toxic – and that smell didn’t go away with time.

When I dry my hair, the children often come over and want me to blow on them. They think it’s fun. I was often torn between denying them a little everyday fun or sending hot toxic air at a dancing and laughing toddler.

I ended up throwing it out when we moved – which is so bad for the environment too.

What did I do at the store in Portugal?

I pointed to the most expensive one they had. It felt heavy and solid. It had a place of its own in the store. Slightly raised above the others, as if it were the king of the hair dryers.

They had to order it in for me because they didn’t have it in stock.

What did it cost? I can’t remember. I didn’t care.

Does it smell like plastic?

Not at all.

It’s worth all the money because now I can enjoy my children’s excitement without fear.

You Might Lose the Trade and Hurt the Relationship

When you’re in a situation where there are several buyers, such as buying a house, a service, or a recycled item, you could lose the deal if you begin to seek out a bargain.

If you start haggling over the house, you may lose the chance to buy your dream home.

If you ask for a discount at the hairdresser, she may ask you to find another place or get annoyed with you.

Both in my business and privately, I don’t bother to go ahead with those who ask for a discount.

I only want customers who pay the full price with an attitude of excitement and gratitude. They’re the most fun customers that focus on learning and getting the most out of it.

What Should You Do Instead?

Try to focus on prosperity every day.

Focus on how much you have and cultivate an attitude of gratitude.

It doesn’t have to have anything to do with material things.

You can go for a walk and enjoy the view. Enjoy the beauty of the scenery. Enjoy the generosity of the trees. The dance of the clouds. The fresh air. The chirping of the birds.

If you quiet your mind, you can reach a place where you can feel prosperity as a strong physical force.

Some will feel goosebumps. Others a trembling sensation of joy through the body.

Try to meditate on your inner sense of prosperity for at least 15 minutes three times a day. Morning, midday, and evening.

True prosperity is so much more than money. It is an inner sense of freedom, love, generosity, gratitude, physical well-being, and wonderful relationships.

There is an infinite stream of wealth, abundance, and prosperity, and it lives within you.

When you become good at cultivating this feeling, you’ll also attract outer prosperity.

It sounds like abracadabra, but it’s not.

Your inner world and your outer world are connected. Of course they are.

As long as you focus on chasing deals and getting special discounts, you focus on scarcity and the material part of prosperity.

The good news (for those who are stuck on “lack attack”) is that daily meditations on prosperity are completely free. Not only that: It’s also 15 minutes that you don’t spend chasing deals on stuff you’ll probably never use anyway.

How does this relate to investments? It’s a perfect fit.

You’ll become a better and calmer investor when you feel inner prosperity and abundance.

You’ll be less likely to panic and sell in fear or buy in greed because you are beyond that.

Learn how to invest with my (free) e-book Free Yourself. You can download it here

Three Reasons Why a Sabbatical Can Boost Your Career

Three Reasons Why a Sabbatical Can Boost Your Career

Does it become a “black hole” in your resume that you fall through if you take a sabbatical year or two?

I think many people stop themselves from taking life breaks or sabbaticals because they have a feeling that they can’t leave the rat race.

Maybe it also just seems unmanageable.

My opinion is that everyone should do it at least once in their life.

In this blog post, I’ll give you some reasons why it can benefit not only you, your health, and your well-being, but actually your career as well.

1. You Gain New Energy

The first reason is obvious.

When you get a break from your daily life, you’ll release built-up stress and gain new energy.

When you’re stressed, you’re not a very good employee.

First of all, it’s not very appealing with a colleague sighing deeply at their desk.

Secondly, you don’t get good, creative ideas if you’re run-down and tired.

The input you provide in the workplace will be far better after a life break. You become a better colleague and employee because of it.

Many people return from a sabbatical year and make a huge career leap afterwards.

2. You Can Rebrand Yourself

Sometimes we get stuck at work because we have become the person “who can do that”.

We have been branded into our position – perhaps without wanting to.

I have heard of actors who take a few years off because they’re tired of being offered the same role.

Then they disappear from the screen for a period of time, and when they return, they deliberately seek to rebrand themselves.

Oscar-winning actor Matthew McConaughey is an example of this.

He was tired of the romantic roles he was offered and took a two-year-long break in 2000s.

New offers began rolling in after a while.

That’s how he landed the role in Dallas Buyers Club, which won him an Oscar. You can read about this in his autobiography, Greenlights.

3. You Can Take Courses and Educate Yourself

You can spend your sabbatical on creating a new version of yourself.

Of course, there are many ways to do that.

You can travel, you can try out a new career, you can take courses, and you can even get a whole new education.

You can even do a combination of these things.

You can travel to another country and take courses there.

Many people in my courses are taking my program as a part of a sabbatical.

Some take a break voluntarily, others are in the middle of a career change, some are on maternity leave, others have been fired. What they have in common is a rare opportunity to try something different and focus on learning something new.

What To Do in Job Interviews

When you are in a job interview, the question may arise.

The HR person may point to your resume and ask why you have a gap.

It happened to me just a year after I was fired on maternity leave.

I have to admit that my answer was bad. I reacted defensively because I got a bit offended by the question.

Of course, there was no gap in my resume. But that’s how these HR people talk.

You need to prepare a good answer and explain how you spent that time sharpening your skills.

You can even write it into your resume.

You can conclude your explanation by saying something like: “I’ve never been sharper than I am right now, and that’s partly because I took the time to…” (here you explain what you spent your time on).

Warren Buffett says it very clearly:

“The best investment you can make is an investment in yourself,” he says.

Sometimes time is an investment in ourselves.

If you want to learn about investing like Warren Buffett, you can download my investment book Free Yourself right here.

Five Rules to Get You Through Revenge Spending

Five Rules to Get You Through Revenge Spending

As the world opens up after the global pandemic, some people become euphoric and buy luxury items that become a symbol of freedom.

Are you aware that Lamborghinis are almost sold out for the year? Six months into the year, 2021 has become the luxury car brand’s second-best year ever, even though the outside world has been closed for a few months.

“Revenge spending” describes the phenomenon when people come out of closure and spend more money than they did before the closure.

The consumption may be driven by a bitterness over having been forced to sit isolated at home and having to eat your own food day after day. It may also be driven by a bitterness over all the things  – like travels and parties – that were canceled.

Did you have a thought (or maybe even a plan) that you would throw a huge party or book a long luxury trip when it was all over?

How do you navigate the euphoria of returning to normal without making financial harakiri?

Here are five rules you can follow:

1. Avoid consumer debt and overdrafts

Avoid building up consumer debt because you feel excited at the moment. 

Do you know the rules of compounding? This is when your money makes money for you, and begins to grow exponentially because with time you’ll have more money working for you, as you reinvest the return. 

Debt is the exact opposite of that.  It makes your money work against you because you are paying for your debt. The higher the interest rate, the worse the problem. And the rule of compounding works the other way too: money will work faster and faster against you.

The worst debt is consumer debt and overdrafts on credit cards. It should be a rule of thumb for you to avoid it at all cost.

2. Never spend more than you earn

Make it a principle that you always spend less than your current income, so you can put money aside for savings and investments.

Now, we’ve all been through a long lockdown, and we have missed the world. I’ll be the last person to tell you to stay at home so you’ll save money. 

I’m not going to deprive myself further. 

I want to enjoy traveling, going out to amusement parks, aquariums and zoos with my kids. I want to go out for dinner with my girlfriends, and I want to visit the people I care about.

Instead of looking at your monthly income and expenses, I would look at the annual income and expenses and make a plan. 

In this way, you can have some summer months where you spend more than your current monthly income (but not your yearly).

3. Review your priorities

Perhaps the closure has opened up a new way of life.

Maybe it’s time to adjust consumption accordingly.

Maybe you’ve realized that you don’t miss going out for drinks with your colleagues. Maybe you’ve found that what you really missed was dinner parties at home. Or maybe it’s the other way around. Doesn’t matter. The important thing is to review it. 

The shutdown may have changed your lifestyle permanently. There’s no reason to fall back into old habits if you haven’t really missed it.

Reflect on what you want back in your life and what you can live without before you say yes to all the invitations coming in. 

Personally, I prioritize experiences over material things. I love dinners with friends, small parties, travel and adventures with my kids.

But I don’t preach zero consumption. Instead, I advocate consumption with consideration and maybe moderation. 

Buy what you really love. Buy quality that will last –  and stay away from the rest.

4. Make a Budget

It helps to set a budget for how much money you can and will revenge spend. 

This isn’t the time to deny yourself a dinner with friends because you want to save money for investing. Not on top of lockdowns. It can be downright unhealthy and depressing to isolate yourself further.

You’ve probably saved some money during the shutdown as vacations and parties were cancelled.

Make a date with yourself, sit down and calculate what you have saved. You can feel free to spend some of that money now. 

I always try to look for compromises in life. In this context, it means finding a way to spend, have fun and also set money aside for investing.

Of course, you’re allowed to pamper yourself, but you need to set some limits for how it may affect you financially.

5. Make Your Money Work For You

If anything, the lockdowns have really illustrated how important it is to have a financially strong base.

It’s important that you make sure that your money makes money for you while you sleep – or for some reasons can’t work.

It’s honestly easier to enjoy life and consume “for fun” (or revenge) if you have the confidence that part of your finances is working for you in the background and moving you in the right direction.

If you want to learn about investing, you can download my investment book Free Yourself here.

A Five Step Plan to Cure Worries About Savings and Investments

A Five Step Plan to Cure Worries About Savings and Investments

Maybe you know the feeling.

You wake up at night worrying. It’s like a rodent gnawing inside your stomach.

You worry about your finances. You feel like things are a bit out of control.

You should be on top of it.

But how? Where do you start?

Seven out of ten women stress about saving and investing, according to a study from Fidelity.

Six out of ten say that it has gotten worse during the pandemic.

It’s an American study, but it is a reasonable assumption to say that this is probably a global phenomenon. It’s also fairly safe to assume that many men suffer from the same ailment.

It’s human and natural that anxiety grows when the world shuts down, and shares behave like a roller coaster that could be called the devil’s ride from hell.

But instead of popping a sleeping pill and ignoring the feeling, it might be a sign to take a closer look at the money matters.

Here’s what you can do:

1. Make a Money Date With Yourself

The time has come to get acquainted with your finances. You need an overview of how much money you actually have.

Step one: Write down all your assets: Your retirement savings, your cash savings, your stocks and shares.

Step two: Write down how much debt you have (including mortgage and student loans and whatnot).

Step three: Add up all the assets and subtract the total debt.

Now you have your net worth.

You have made your own balance sheet and figured out your equity. 

Plot down these numbers every month. It’s very motivating and calming to follow the development of your net worth (provided it grows and doesn’t shrink).

What about the value of the house or apartment you live in?

Good question.

I suggest you make two balance sheets.

One with your net worth without your home and one where you include it.

You have to live somewhere, and housing is a necessity. You can’t include it in the assets that you can live off long term (your financial freedom money).

On the other hand, you should include it on a separate balance, just because it’s motivating to see your total net worth develop. After all, the money tied up in your house is also your money. 

2. Have Emergency Savings

You need to have emergency savings in cash so that you are able to pay for any unforeseen expenses such as car repairs, a refrigerator replacement, or sudden high transportation costs due to an accident or illness.

Life can surprise us in so many ways. When it does, you don’t have to worry about the financial consequences. You have your own back and you’ve created emergency savings for that.

There must be at least USD 2,000 in a cash savings account that you always have access to – preferably with a debit card attached.

This account cannot be your normal account for daily expenses, because there’s a risk that those savings will be sucked into your day-to-day bills and expenses.

Make sure it’s a separate account and only used for that.

Having it clearly set aside for this purpose and not entangled in any other money transactions gives you an enormous benefit:

It creates peace of mind.

3. Have Security Savings

You should also have about 3-5 months’ salary available in cash.

This is the account that makes you worry less about getting laid off.

It’s also the account that gives you the courage to resign if something unacceptable happens at your job.

This amount should also be placed in a separate account, but it doesn’t need to have a debit card attached to it. You’ll have a bit more time before you need to access it.

The purpose of this savings account is to make you more calm in your work and less sensitive to the boss’ whims or any surprises at work such as a merger, budget cuts, or restructuring.

The benefit of this account is that it makes you more brave and able to weather storms at work.

It may be the single best thing you do for your career as it will make you able to make some bold decisions and brave moves. 

4. Have Automated Savings for Your Financial Freedom 

You also need a freedom account intended to make you financially free in the long run.

The important thing is that you automate the process.

You must be sure to put money into your freedom savings each month.

That’s why it’s such an excellent idea to make it an automatic transfer at the beginning of the month, so it’s as high a priority as rent and other fixed expenses.

The mistake most people make is that they wait and see what is left at the end of the month. Most people have a tendency to spend whatever is there, so nothing will be left for your future freedom.

How much should you transfer to your freedom savings each month?

A minimum of 10 percent of your salary, but more is better. If you can reach 20-50 percent, that would be even better.

Your freedom savings are to be invested in assets (preferably shares) so they can grow and work for you.

You are never to spend any of your freedom money until you’re financially independent.

The benefit will be immediate. Having set this system up, you will feel calm already today, knowing you are working towards true financial independence.

5. Gain Knowledge About Investing

You need practical experience in investing alongside coaching, training, and education.

You need to learn how to make your money grow in the best way possible.

We learn a lot in school. We learn to read, write, count, and play catch.

But we learn nothing about how to handle our money.

You must be your own schoolmaster and get educated about this.

Take courses, get coaching, read books, and read blog posts.

The Real Cure Against Money Stress

There’s no way around it.

You need to become intimate with your economic and financial situation. You must create different saving pots with different purposes. You must also give yourself the education that the primary school hasn’t managed to give you.

At first, it may feel uncomfortable. Maybe you want to stick your head under the pillow instead. But force yourself.

As you gain more experience, your money stress will disappear, and you will develop a sense of calm and more “money confidence”.

As you watch your money grow, you will get a sense that you are on top of things.

As you get into investing and get comfortable with it, you’ll find that investing is actually quite fun too.

Your first step towards learning more about investing could be downloading my free e-book Free Yourself. You can get it right here.

Five Ways to Avoid Losing Money After Becoming a Mother

Five Ways to Avoid Losing Money After Becoming a Mother

It’s expensive for women to have children.

Most women go on maternity leave, and then they return to the same or a similar job.

But because they have been absent, their careers lag behind those of their male counterparts.

Some women even take a pay cut to go part-time so they have more time for the children.

A woman in the US only makes 81 cents for every dollar a man makes (data from the Bureau of Labor Statistics, 2020).

In my country (Denmark), women experience a 10 percent decrease in income after one child, a 20 percent decrease after two children, and a 30 percent decrease after three children.

But does it have to be that way?

Not at all.

Here are five things you can do to avoid being punished financially because you have become a mother.

1. Share the Leave (and Other Duties) With Your Partner

The rules are different from country to country.

In my country of origin, you can take up to one year of maternity leave.

Sounds wonderful, right?

The problem is that women take most of it. In fact, in many cases, they take all of it.

Dropping out of a career for 9-12 months several times (if you have more than one child) can cripple your career and make your life income decline – if you are not careful.

If you live in a country where it’s possible to get a long leave, it’s really important to share that leave.

Not just because of the career opportunities after childbirth, but because of the patterns that are formed in the family.

It’s important that the parents share the tasks, and that the mother doesn’t settle into the role of the family project manager (unless she consciously wants to carry the biggest part of the child rearing duties).

If you live in a country, like the US, where you only get three months of maternity leave, then obviously it’s more difficult to share that if the mother is breastfeeding.

2. Delegate and Outsource Daily Tasks

Not only is it important to get the partner to share the work and leave 50/50, it’s also important to delegate to others.

Hire a cleaning lady, hire a nanny, get meal boxes delivered. If grandparents sign up for a weekly playdate, let them.

Make sure to outsource everything that a person earning less than you can perform so that you can focus on what you’re good at, and when it comes to your children, focus on quality time with the kids.

Children don’t care who does the dishes, who cooks and washes the floor. They don’t even care if the food is home-cooked.

But it does matter to them who reads the bedtime story, and who is there for them when they wake up scared in the night.

You need to prioritize the important quality time and outsource the household chores.

3. Keep Contributing to Your Retirement and Savings Accounts

Many women take an involuntary break from contributions to their life savings and retirement, like the 401k and Roth IRA, during maternity leave.

You need to avoid this because the long-term consequences go beyond the payment.

Continue to prioritize your retirement and life savings.

Maybe your partner can chip in if part of your maternity leave is unpaid and without benefits?

Talk it through before the baby arrives.

4. Invest in Stocks

You need to be committed to doing the opposite of lagging behind financially.

You should take some action to raise your finances to the next level instead of letting them slide.

Investing in stocks is an obvious way to compensate for the wage gap.

Women own far fewer shares than men, and fewer women are investors. It’s part of the pattern that creates economic inequality.

The time has come to change that.

You can’t always control how much you are paid and which promotions you get, but investing in stocks is entirely up to you.

5. Educate Yourself

You must continue to improve your skills, seek new knowledge, and educate yourself.

Take online (or offline) courses, read books, and upgrade yourself to an even better version of you.

Knowledge is like money – there is a compound effect. Don’t neglect it.

The Last Thing: Escape

I know I said five things, but there is one more which you only need in case of an emergency.

If you find that your boss curbs your career when you return from maternity leave, then you need to resign.

You can, of course, search for another job for a short period of time, but don’t wait around for too long.

It’s demotivating to work in an environment that tells your subconscious that you are worth less because you became a mother – or father (this also happens to men).

I was assigned to a less prestigious position when I came back from maternity leave, and was told I had to “start over”. On the second maternity leave, I was let go.

I had a male colleague who was moved from his old position to shifts at the copy desk when he returned from paternity leave. Instead of researching and writing stories, he had to edit other people’s work until 9 pm every evening.

“It’s better for your family,” they said.

He did the right thing and resigned before they could stick him at the editing desk.

If you experience something similar, remember that there are many other ways to make money.

If your corner of the job market doesn’t appreciate new parents, there’s only one thing to do: find a place in the job market where they still value you, and where they treat you well.

Maybe the time has come for a career change. Maybe you need to start your own business.

Maybe you just need to switch to the competitor.

Whatever happens, you stand stronger mentally and financially if you know how to make money work for you through stock investing.

It’s easier to make bold decisions if you’re financially independent.

What career would you choose if you didn’t have to work to pay your bills?

One way to upgrade your knowledge is to check out my e-book Free Yourself. You can download it here.