|12-09-2008, 04:54 PM||#1 (permalink)|
Join Date: Jan 2008
Location: NSW, Australia
Recession Self Help
I've read that a recession is the time when more fortunes are made than any other, and that there are more opportunities around when times get tough.
I'm pretty sure I believe this, but I need to know what kind of things would be the most important things to do if I want to succeed regardless of the economy, and how can I make sure I avoid being someone who struggles to survive it, or even goes under?
|12-09-2008, 05:44 PM||#2 (permalink)|
Join Date: Dec 2008
Yes I believe there are many opportunities out there during a recession but I believe it is of up most importance that you continue savings. I save 10% of every dollar I make, this money is saved until an investment comes my way.
Have you ever read the book The Richest man in Babylon or Rich dad poor dad? My view is the best place to make money in a recession is through investments.
The stock market is on sale right now.
A Lot of real estate opportunity's during this housing crisis.
But before you ever make any type of purchase or investment during these hard times, you must make sure you are well educated first. Do not enter an investment without knowing what you are risking. You don't have to play is safe, but you at least have to play it smart.
Just my two cents
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