What a year - somewhere between yech and "oh my god".  Everyone has felt and will continue to feel the effects of the financial and real estate crisis. 

There are things that we know, and several of these give us reason for optimism:

• Governments all over the world are committed to bailouts and all other measures necessary to support their own and the world's financial system
• there are sectors of our economy that have thrived despite overall conditions and these will help to support an inevitable recovery - healthcare is a good example
• Many governments are committed to funding improvements in infrastructure, which often stimulates overall economic activity
• It sounds trite, but this has happened before, and no doubt will happen again, hopefully not for a long time
• Interest rates are historic lows, so businesses and individuals should be able to access reasonable credit terms once banks and other lenders start to make loans again
• There are enormous value opportunities in our economy and others that represent true bargains based on conservative value measures

We also know that there are things you can count on - and things you should do:

• Taxes will increase - this will pertain to income, estate, sales and all other forms of revenue generators. This puts extra emphasis on estate planning, tax deferral and income tax planning
• Interest rates will go up - keep maturities short, in bonds, bank instruments and other interest sensitive investments
• Keep on funding your 401K or other retirement plan(s), you are buying into a market that will be increasing
• Maintain a cash reserve, adequate for unexpected developments.
• Look for opportunities to take advantage of the "bargains" out there.
• Review your holdings - asset allocation is often overlooked, but critical.
• Review your loss exposures - health, disability and liability insurance - claims increase during difficult times