I drafted the NAHREP 10 four years ago as a tool for the Hispanic Wealth Project and a guide to NAHREP’s growing membership. The goal was to establish a set of principles that position the Latino community for greater prosperity and an enhanced quality of life. The NAHREP 10 has also provided NAHREP with a set of values that guide our activities as an organization. Recently, we have formalized the creation of NAHREP certified trainers to build a small army of ambassadors who will help spread the ethos of these principles to the broader community.
While it’s not yet clear what the long-term economic and societal effects of the COVID-19 pandemic will be, we know it will be profound. We also know that people who are at the top of their profession and have achieved a near debt-free status in their financial lives will emerge from this situation ready and able to take advantage of a broad array of business and financial opportunities that will undoubtedly transpire. Harsh, but nonetheless true. There will be people who thrive even more when this is all over.
Right now, we need to remain vigilant in fighting the spread of this horrible disease, but we also keep in mind that the NAHREP 10 would not be necessary if the economy always grew, real estate never had a down cycle, people never became unemployed, and life was always fair. It was created to prepare everyone for economic scenarios like the one we are currently experiencing. Now might be a good time to read and discuss these principles again; you can find them here.
By definition, unintended consequences are the results of an action different from what was expected or planned. They are often referenced in relation to changes in policies. I have heard the term used for years, primarily related to government policies. Still, I didn’t realize until recently that much has been written on the subject, and most experts believe that there are three categories of unintended consequences:
I once read that sports are a universal language. Regardless of ethnicity or what language you speak, almost everyone speaks sports. No place has that been more evident than the Olympics, where every four years, we are moved by images of athletic rivals from around the world shaking hands and embracing each other in moving displays of sportsmanship.
Happy Easter! The blog will resume on April 7, 2024.