Are You Financially Resilient? 5 Steps to Boost Your Economic Security

Being able to bounce back from adversity is a necessity, because chances are you’re going to face one (or more) setbacks during your lifetime. From a job loss to a health crisis, here’s how to take a punch, pick yourself up and get back in the fight.

A swimmer flexes her muscles at the beach before plunging into the surf.
(Image credit: Getty Images)

A young woman lost in the Land of Oz asks how to get back to Kansas. “If I were you,” she is unhelpfully told, “I wouldn’t start from Oz.” But if Oz is where you are, you have no choice; from there is where you must start.

That is how it is with many financial hardships. We must start where we are, in the thick of it.

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Jacob Schroeder, Manager of Investor Education
Manager of Investor Education, Advance Capital Management

Jacob Schroeder is the Manager of Investor Education at Advance Capital Management (www.acadviser.com/ (opens in new tab)). He is also the creator of the personal finance newsletter The Root of All (https://rootofall.substack.com/ (opens in new tab)), exploring how money shapes our lives. His goal is to help people make more informed financial decisions and live happier lives. His writing has been featured in publications such as Yahoo Finance, Wealth Management magazine, The Detroit News and, as a short-story writer, in various literary journals.