Another story from the Years & Years programme (to be fair there were six episodes).

Probably the episode that scared me the most was the one which ended with a run on a bank.

The part of the family (in the programme) that contained the husband and wife plus two school age kids were unfortunately completing on a house sale on the same day.

The episode ended with the husband and wife unsuccessfully trying to get into a branch of the bank. The end result was that the money from the sale had moved into their bank account, and then the bank went bust.

They lost a million pounds.

Sounds like a crazy situation which would never happen in real life right?

Wrong, for those of us who can remember 2008/9 and people lined up outside branches of Northern Rock.

Which is obviously only ten years ago, nothing in financial history terms.

And the beauty of history is that the same things play out again and again.

There’s even a well-researched concept of the 18 year economic cycle to explain it. Google: Akhil Patel, if you want to find out more on this.

Post losing the house, and his job, the husband ends up taking on menial jobs and having multiple ones to try to bring in enough to put food on his family’s table.

This made me think they didn’t have multiple streams of income.

If they did, then even though losing a million pounds would be horrendous and stressful, their lives wouldn’t fall apart.

They would have income from investments that would mean they could rent somewhere, instead of moving back in with his grandma which is what actually happened.

Throughout your life various random events are going to happen, the impact will depend on how well you’ve planned for any eventuality.

If one of your risk mitigants is to educate yourself on what alternative investment opportunities are out there (thus building up income from investments), then a subscription to Guerrilla Investors is how you treat that risk.

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All the best,

Stephen Wallis

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