Three Strategies For Crash-Proof Wealth Building
Be Entrepreneurial, Educated, And Engaged
Despite what you hear in the media, the "recession" is not over, and the global economy is not on the rebound. VERY tough times are ahead. For confirmation, you need look no further than the tooth-and-nail fight Washington is performing today over a small amount of spending cuts - less than a few weeks' worth of interest-only payments on the U.S. national debt - to try to score political points. Meanwhile, the Middle East is on fire, Japan is literally under water, unions and radicals are planning major financial terrorism for later this spring, and the looming replacement of the U.S. dollar as the world's reserve currency threatens to bring the entire world economy crashing down.
But we're arguing in Washington about less than two percent of our national budget, and about (once again) whether taxpayers should fund abortions.
Experts say the powers-that-be have already taken us past the point of no return on global financial collapse, and it's just a matter of time. What can you do to prepare? How can you build wealth, and what is still possible in terms of crash-proofing your prosperity? The first three strategies you should consider are entrepreneurship, education, and engagement.
First, if you haven't done so already, start a business. If you have a job, great - don't leave it! Instead, start a business on the side, and build it so that you'll have a fall-back position when the unthinkable happens (such as a layoff in the family). Understand that a serious business venture does require that you invest a TEAM of resources: your Time, your Energy, your Attention, and some of your Money. But in these days of internet entrepreneurship, you can create a viable business with strong cash flow for a fraction of the TEAM investment once needed to open a brick-and-mortar concern.
You also need to educate yourself about what's really happening in the world economy. Think a big crash (one that makes the Great Depression of the 1930s look mild) can't happen? Think again. Some financial experts with stunning records of accuracy are saying the U.S. stock market will eventually be trading at less than 1000 (it's over 12,000 today)... and that no one alive today will live to see a new "market high," so desperate and extended this next crash will be. Now, these guys know more than you do about the trends, and the tricks being employed by central banks to artificially prop up the world's economies. And you won't learn about this in school, or in the mainstream media. So you must seek out financial advice straight from the real experts, and from the ones who've already left "the system" and are no longer required to simply put you into some firm's investment vehicles.
Finally, you have to stay engaged. Gone are the days when you could ignore the events of the day and live in the bliss of ignorance. And when you do get smart about what's really going on, you'll have to ACT on what you know. You're going to feel anxiety, and the only prescription for it is action.
Here's some good news: you might become truly wealthy in the coming months, as all around you lose everything they've worked hard for. Tough times are also times of tremendous opportunity - more millionaires were created during the Great Depression than at any previous time in history - but you have to anticipate the trends and be ready to act. If you have made your entrepreneurial move and done what you can to educate yourself, you'll be in position to engage - and to capture the greatest opportunities of your lifetime.