4. Prepare for the Worst of Times!

Insurance is essential in many aspects of our lives. Most families invest significant funds in various policies. How many policies do you own? We insure our health, wealth, automobiles, lives, and more. In most cases, we hope we never need it, but it is helpful when we do. There is one important lesson about insurance. You can’t wait to get a policy after a medical crisis or an automobile accident. In the case of life insurance, you can’t wait until after your death. You must have insurance before you need it.

I hope you never find yourself in a situation as a displaced employee. Regardless of your profession or stage of life, you risk becoming unemployed as a doctor, lawyer, teacher, even as a pastor. In that situation, what would you do? Some of you think, “That’s why my employer has unemployment insurance.” Let’s set the record straight: not all employers have unemployment insurance. Additionally, depending on the circumstances of your displacement, you might not be eligible for unemployment insurance. You can be self-employed and lose your business and your income.

No one wants to be in this situation: Forced to move back in with your parents, to sell your home, or to sell other possessions. You have to work to pay the bills. At the same time, you search for a job in the profession you love or were trained to do. Remember what I said earlier, you can’t wait to get an insurance policy after the crisis.

I want to encourage you to consider investing in three types of “insurance policies” as you prepare for the worst. Please note that these are not traditional insurance policies you buy from an insurance provider. These are the policies you create for yourself. You ask, “When should I start investing in these policies?” My answer? “Immediately.”

INSURANCE POLICY # 1:

Build a personal network.

Your displacement affects you and the people closest to you more than anyone else. Building a personal network is first for a reason. When you are displaced, you will face many issues, but loneliness and isolation may be among the biggest challenges. It is critical to build your personal network in the order listed below.

1. Build your relationship with God.

If you have read my earlier newsletters, you know I am a Christ follower and a full-time pastor. It shouldn’t be a surprise that I recommend building your relationship with God first. God is the source of all things. Through Christ, God provides forgiveness of sin by faith and the reward of eternal life. God’s Word offers wisdom and insight for navigating life’s challenges. God hears the prayers of His children and answers them according to His will. Build your relationship with God by spending time reading the Bible and praying.

2. Build your relationship with your immediate family.

Your immediate family has been the source of many wonderful and tragic memories. Our connection with our family is unlike any other relationship. Your family can be the only one you can turn to in your greatest times of need. It’s important to keep a healthy relationship with them. I hope you can mend broken relationships and take healthy ones to the next level.

3. Build your relationship with your extended family.

Sometimes our extended family can be a great source of joy and support in times of need. No matter how many people fit into this category for you, don’t neglect them. Building these relationships is worth the effort. 

4. Build your relationship with: neighbors, co-workers, classmates/teammates, people from your past.

Do you know the names of your neighbors? Do you maintain relationships with high school classmates? Do you attend gatherings of these groups or stay connected through social media? If you earnestly seek to rekindle relationships with people from your past, you find mutual support. You can help each other in times of need.

INSURANCE POLICY # 2:

Build a professional network.

I have been a professional minister for over thirty years. I hate to admit that the number of my close friends in full-time ministry is too small. I guess my excuse is being busy. I assume that is the same excuse my peers use. I know many people, but I have only a handful I can lean on in times of need. Don’t follow my example. Take the time to build a professional network. Like sales, it requires reaching out to many people before making a few meaningful connections.

Let me challenge you to do three things:

1. Seek out someone to mentor who is younger than you with less experience.

2. Establish connections with people your age with similar interests.

3. Find a mentor.

You are responsible for building your professional network. Get started.

INSURANCE POLICY # 3:

Become financially independent.

Here is an excerpt from my January newsletter:

“Finally, managing your money is one of the most important disciplines to master. Wise financial practices are one of the building blocks of a happy, stable life. Don’t get me wrong: money is not the source of true happiness. However, a lack of money or its mismanagement can lead to several problems. I would encourage you to make informed financial decisions. Also, use proven financial principles taught by Dave Ramsey and others.”

Conclusion

I hope you, my readers, never have to face some of the personal challenges I encountered during my displacement. Many of the obstacles were easier to overcome because I had prepared for them from the beginning of my ministry. It was all by God’s grace.

Please let me know if I can offer any additional advice.

Blessings,

Terry

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