Do you think "prepare for the worst, hope for the best" is workable?
By scheng1
@scheng1 (24649)
Singapore
May 31, 2009 1:13am CST
A few years ago, the Singapore Government keeps on telling us to "prepare for the worst, hope for the best".
That year, the newspaper carried this advice (or slogan) every day, in nearly every page of the newspaper. And every corner you turn, you see "prepare for the worst, hope for the best".
However, in economy boom, people tend to "hope for the best" without preparing for the worst. In recession, people tend to "think of the worst" and dare not hope for the best. The kind of stupidity is reflected in the stock market, when people buy at the top, thinking that stock market will go up forever, and sell at the bottom, due to fear.
Do you think that this advice is workable in real life? If so, how do you think we can incorporate in our daily activity.
3 people like this
12 responses
@ronit_mat (176)
• India
31 May 09
actually most of the times it is a very good policy to follow i believe.but sometimes it is being wrongly used when the system is not good enough and are trying to cover their flaws.in that case we have to unnecessarily face consequences because of lack of commitment and thinking of people who should get the job done.hope you understand what i mean.happy mylotting.
@scheng1 (24649)
• Singapore
31 May 09
Hi Ronit_mat, I understand what you mean, seen a lot of bad examples in civil service as well as corporate world.
However, in personal life, most people do not even plan, much less to prepare for the worst. Hardly anyone does budgeting, and not many people can control their spending.
If people could prepare for the worst when economy was booming, not when the economy is down, not many people will feel so depress.
1 person likes this
@scheng1 (24649)
• Singapore
31 May 09
Hi Ronit, I thought you are talking about those corporations and financial institutions.
They did not plan very well also. If they had planned for the worst, the recession might never happen. I think they have to learn to prepare for the worst and hope for the best, they can't always cry for government to inject funds and pull them out of the deep hole.
@ronit_mat (176)
• India
31 May 09
that is exactly what i want to say scheng.just look how the economy has taken a beating.the worst has happened.no one was prepared for it.people do not put the slogan into practice just say it during the bad times.
1 person likes this
@underdogtoo (9579)
• Philippines
31 May 09
I don't think that is a good policy at all. When you prepare for the worst then you have less time for the best. Hoping for the best is not good enough, one has to work actively and imagine creatively in order to get the best. Cheers!!
2 people like this
@scheng1 (24649)
• Singapore
31 May 09
Hi Underdogtoo, that's great policy for government and corporations, and I agree with you that it's not really workable for common folks like you and me.
It's the job of the government to prepare for all the possible worst scenarios, so that the soldiers and other civil servants know what to do.
If we have to plan for all the worst that can happen, that's really scary!
For most of us, we just buy insurance, and get on with life, hardly given thought to all the "what if".
1 person likes this
@dragon54u (31634)
• United States
31 May 09
underdogtoo, preparing for the worst frees you to hope and work for the best! You know you have taken care of any situation that might affect you or your family so you can throw that worry away and start working to make everything ideal. Without the insecurity of being unprepared for the worst, you can direct all your efforts to making your life the best.
If you are not prepared for the worst, no matter how much you've worked and hoped for the best your efforts will all be destroyed because you weren't prepared for bad times.
I hope this changes your mind a little. It's like taking a flashlight into a cave--it helps you avoid a fall so that you can enjoy the journey through the beautiful sights and emerge in one piece.
1 person likes this
@scheng1 (24649)
• Singapore
31 May 09
Hi Dragon, underdog is right in a sense, he's striking a balance between over-preparation for the worst and planning for the best.
Most people insured themselves, and set aside cash enough to pay for a few motnhs of bills, just in case of unemployment, that is adequate planning for the most individuals.
Most of us do not plan for all kinds of emergency or disasters. For example, fire hazards, earthquakes, traffic accident etc. We just buy insurance, and considered that as adequate planning for the worst.
@dragon54u (31634)
• United States
31 May 09
I run my life by that motto! I feel that if I'm prepared for the worst I can make the best of any situation. This "recession" which some are saying is actually sinking into a depression, did not take me by surprise because I'm always prepared for the worst. I had saved money to carry me through tough times and believe me, I sacrificed in order to do that. Anyone can do it. I have a place in my basement where I can go during tornadoes and live for weeks with no outside help.
Now that it is the worst, I expect it to get worse but I still hope and plan for the best. I can do that because I prepared for the worst. So yes, the motto is workable. It is those people who were not prepared, who refused to think of the worst, that are looking at the stock market and dare not hope for the best. Hopefully this crisis will have taught us all a few lessons in humility, common sense and how we define ourselves--that material goods are unimportant when compared to our families and our health.
1 person likes this
@dragon54u (31634)
• United States
31 May 09
So your government was prepared for this? Ours wasn't. Ours spent money like water and disregarded the future, while encouraging all its citizens to be deep in debt to support the economy. With our current administration, I think it will just get worse.
I hear that a lot of citizens from Japan and China are shopping here for apartments and houses since our prices are so low. I would certainly welcome having some newcomers who have a realistic view of how a healthy economy works! And some manners. Our people have forgotten what manners are and I hear the people of the far East still have some respect for themselves and others.
1 person likes this
@scheng1 (24649)
• Singapore
1 Jun 09
Hi Dragon54u, Singapore is still a very young country, with western and eastern influence. Our education system is based on English language, but the cultural value is influencing our daily activities.
The Eastern value places a lot of emphasis on preparing for the future, including the well being of the future generation. That's why the government saves a lot of money. Temasek Holdings and GIC are two investment arms of Singapore government.
Most of us are quite conservative in spending, and investment.
Never comfortable with getting into debt, except for buying properties and education. These two expenses are more like investment than spending. There is a strong emphasis on higher education.
Some of my cousins, in their 20s and 30s, are good at saving money, they save closer to 70% of their income.
@scheng1 (24649)
• Singapore
31 May 09
Hi Dragon54u, I'm very glad that the government had the wisdom to hammer that message when the economy was booming a few years ago.
And they did keep a lot of foreign reserves to prepare for the worst.
Glad to hear that you always live by that motto, you can sleep better than many people who are unprepared.
Most people lack common sense, when the economy is booming, they forget that what goes up, must come down. Once bitten, twice not shy!
1 person likes this
@Youreyes4Today (2356)
• United States
31 May 09
In any situation, in any time we make choices, we always "hope for the best" thats human nature in my opinion. Myself I work it both ways, I see what the worst could be, and what it could be if a decision worked out that way, that I made. I believe we all Hope for the best in everyday life. Some don't try and think of the worst because they want to keep moving forward to not have to worry about the worst. The thing is though, anything could happen at any time. So how can one truly "Prepare for the Worst"? You can look at your options and choose what you feel is best and then hope. The worst can come and go as well as the best.
No matter what hits, I, Never Loose Faith
2 people like this
@scheng1 (24649)
• Singapore
31 May 09
Hi Youreyes, thanks for the sound advice, I like it very much.
The surprising thing about people is that they know how to plan for the worst in their employment. Corporate world always train employees to plan for the worst, and have a Plan B for the just in case.
Civil servants are better in this respect, there is SOP for coping with nearly all kind of disasters.
But when come to personal level, most people do not plan. Either they hope or they despair.
@SmilyQin (179)
• China
1 Jun 09
Yes,i do believe in "prepare for the worst and hope for the best".
It works not only in my work but also in my real life.
No one tell me these things,i discover it myself,that's why i am so much into it,
nobody know what happen next,all you can do is prepare everything for every situations,thus you won't be in a hurry when real comes.
If we have well prepared for our fufure,our finance,i think this criss won't be like this.
@scheng1 (24649)
• Singapore
1 Jun 09
Hi SmilyQin, agree that the current crisis is due to short-sightedness of individuals and financial institutions.
If those bankers had prepared for the worst, and not took huge risk, the crisis might not happen.
It is very time consuming, in fact impossible to prepare for everything. Most of us can prepare for months of unemployment if we save enough money, and purchase adequate insurance coverage. But not many of us prepare for survival in earthquake, tsunami or other natural disasters.
Those who go on a cruise never prepare for the "worst", that is, the cruise liner sinking.
@Canellita (12029)
• United States
2 Jun 09
I think it is not only workabale but necessary. I find it interesting tht the government chose to make a huge campaign of the slogan. Just think, some people don't even prepare for the best!
1 person likes this
@scheng1 (24649)
• Singapore
2 Jun 09
Hi Canellita, that slogan "prepare for the worst, hope for the best" was highlighted in conjunction with national day. So every important person used that slogan.
It was very irritating to hear the messages again and again. The minute the Minister opened his mouth, you got to hear the message a few times. And the newspaper kept on printing the same message everywhere.
Fortunately, the government was smart enough to tell us to "prepare for the worst" when economy was still good. Now we got ourselves to blame!
1 person likes this
@Canellita (12029)
• United States
2 Jun 09
I guess that is similar to a previous administration in this country that coined the phrase "Just Say No" and turned it into a national campaign. It failed to give people, specifically youth, something to say yes to.
1 person likes this
@miamilady (4910)
• United States
31 May 09
It is absolutely workable. It's good advice. Preparing for the worst is a good idea. Then you will be able to cope with just about anything. Hoping for the best? Why not?? When you stay positive you can see the good in most situations anyway.
The problem isn't that the advice isn't good. The problem is that people don't follow that advice.
1 person likes this
@scheng1 (24649)
• Singapore
31 May 09
Hi Miamilady, agree that most people do not follow the advice. They are too naive and too positive, thinking that good times are forever.
Once in my finance lesson on shares investment, the lecturer was very frank. He said that the worst that could happen is to lose all the capital in the stock market. Whatever the company we invested in, we must be prepared that the company gone bankrupt and we lost everything. If we could not accept this fact, dont invest.
@scheng1 (24649)
• Singapore
3 Jun 09
Hi Elitess, most of us agree that "prepare for the worst, hope for the best" is a good principle to follow, but not many people can live accordingly. Glad to hear that you have benefitted from it.
Sometimes people misjudge the worst that can happen, and over optimistic about the best. I think most people who take mortgage when the economy is good, never expect the housing price to fall so low, and never expect to be jobless when economy goes downhill.
1 person likes this
@veejay19 (3589)
• India
31 May 09
Your question is very apt for the current situation. I agree with you that when the going is good people do not think twice when spending which they do recklessly and when things go bad they panic and rue the fact that they did not save for the proverbial rainy day. during good times the wise person saves as much as he can and spends only on what is really neccessary. When bad times come he has a neat nest egg to fall back on and so lives without any worry or tension.It is always good to have the saving habit because when needed one will have something to fall back on and not depend on others.One should always prepare for the worst at every stage of life because one never knows when things are topsyturvy.Also this does not mean that one should live like a miser and not spend on anything. Prudency in every action will make a man wise and live like a king in whatever situation he finds himself.
1 person likes this
@scheng1 (24649)
• Singapore
31 May 09
Hi Veejay, somehow people working in the corporate world knows how to plan for the company, but they never translate the good practice to their personal lives.
In corporate world, we expect the company to do budgeting, and we know that we have to stick to the budget. We expect the company to have policies to deal with all possible worst scenarios.
But when it comes to personal life, we mess up practically everything. Most do not have budget. Some speculate and jump into the stock market when the market is at all time high. When market crashes, they blame government or someone else for bringing the market down.
Hardly anyone is as wise as the "wise person" in your example.
@apples99 (6556)
• United States
31 May 09
Well I think I'm a mix of optimism and pessimism becuse in life good things and bad things happen, so I think prepare for the worst and hope for the best is workable in some situations, becuse its sometimes better to not expect to much becuse you'll be more disappointed that way so if you just hope for the best but be prepared for the worst it might soften the blow a little, if something bad happens.
1 person likes this
@scheng1 (24649)
• Singapore
1 Jun 09
Hi Apples, apparently those who bought houses when the property market was high, never prepared for the worst.
Even if they did foresee that the property value would drop, they might not foresee the value dropped so much.
About 10 years ago, the property value in Hong Kong and Japan dropped so much, up to 70% of the value wiped out by the market crash. Hardly any of the investors could foresee the worst.
Guess those who could foresee the sharp drop in value would not even want to enter the market, and not want to incur so much debt.
@Nerissagoh (69)
• Singapore
31 May 09
It is difficult to prepare for the worst when I couldn't visualise what is the worst. Hoping for the best? Frankly speaking, im not a very optimistic person, but will still hope for the best...
1 person likes this
@scheng1 (24649)
• Singapore
1 Jun 09
haha Nerissa, agree that most people cannot visualise the worst that can happen. Those older generation who have survived the Great Depression and the World War, have seen the worst, nothing can be worst than that.
And these are world scattering event that nobody can prepare for. So hope for the best, that hope that great depression will not happen again.
@aikhong (661)
• Malaysia
31 May 09
Ya, i think it is indeed a good phrase and piece of advice to be incororated into the economy situation as well as in our daily life. Although some may say that this is just doesn't help much, ya i'll agree that too. However this phrase has actually some kind of effect in encouraging the people to think positively. There's at least hope, as long as there's hope we'll still do our best we can to overcome the predicaments and bad times together. This is the outcome i think which the government wish to have.
In our daily life too, we can always do our best to get things done. Whatever things that we're unable to control, we'll leave it to the God and just hope for the best. On the other hand, we also should always have the precaution and preparation to get ready for anything bad that might happen. So, this is correspond with that saying, "Prepare for the worst".
1 person likes this
@scheng1 (24649)
• Singapore
31 May 09
Hi Aikhong, fortunately the government does not wait till recession to remind us to prepare for the worst and hope for the best.
This message was hammered into us every day when the economy was booming, and the future looked very bright.
Right now in recession, nobody can pinpoint government and says that government did not tell us to prepare for the worst.
In daily life, we can only prepare for some likely "worst", we can't prepare for every situation. We do not have the resources and systems that government used to prepare for national disasters.
Most of us try to eat healthy and live an active lifestyle, buy insurance, and save money, that's about it.
Think to prepare for the worst and hope for the best is also a mental exercise.
