My mother has frequently shared the stories of her childhood, highlighting fond memories of family all around—grandparents, aunts, uncles and cousins. My mom was born in 1930, and though she was unaware at the time, the reason she was enjoying extended family was because her parents offered a home to relatives who had lost theirs. A blessing? I think so. Without the living arrangements necessitated by difficult times, Mom may not have experienced the rich relationships that would become the foundation for a lifetime of special memories.

The last several months I have spent a lot more time talking about investment allocations, time lines, risk factors, economic cycles, gold, short sales, interest rates, emergency reserves and slumps than ever before. A client finally caught me and cleared my perspective (thanks Chuck). Is this a financial crisis or a crisis of our faith: faith in our markets, faith in our political leaders, faith in our free capitalistic nation, faith in our fellow man, faith in our ability to overcome challenge?

I recently read in a financial magazine (Financial Advisor Magazine February 2009), “2008 was like a massive forest fire—nearly everyone got burned. And like a forest fire, it could ultimately be a cleansing experience that rejuvenates and strengthens…” Though our personal choices may not have led to this crisis, can we not participate in a rejuvenation strengthening all? If you or a friend has lost a job, or your kids need to cut back on extra activities, can we not see this as an opportunity to rekindle relationships or re-bond family ties? This is what I am beginning to hear from you. This in itself has begun to rejuvenate my faith in this great country and its people.

Note the strength of your character in weathering this storm. Pat yourself on the back when you realize that what seemed to be lazy money sitting in the money market is now your safety net. And look forward to rebuilding that emergency reserve for a next time once this crisis has passed. Your faith in our country held you to your investments, and you are perhaps now seeing your unrealized losses pulling back. Create a budget resolute in focusing you on need versus want spending habits.

How do you measure success and quality of life? Is it the size of your 401k? I don’t think so, and I am not alone. Now that you are all around your dinner table; how many eager, smiling faces do you see sitting with you ready to share their day?

This is Part 1 of a 3 part series. Join me for a closer look at rejuvenating, strengthening and building reserves for next time.

by Erin Carper , CFP ®

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Erin Carper, CFP is the owner of Carper Wealth Management. Call 770.781.2502 or e-mail  erin@carperwealthmanagement.com ,  www.carperwealthmanagementcom Erin is an Ameritas Investment Corp. (AIC) Investment Advisor Representative. Securities and financial planning offered through AIC, Member FINRA/SIPC. AIC and Carper Wealth Management are not affiliated. The above information is intended to provide general information. It is not intended as, nor may be considered, as tax or other legal advice for you. Please consult the appropriate professional advisor for your specific circumstances.