There’s a lot of information circulating on the internet about how to recession proof your investments during our current economic downturn. But the truth is, it’s far too late for that. The only thing you can do now is move forward.
On this episode of Investing in Real Estate, I’m bringing you a reality check about finances. This is a tough love episode about taking charge of your future, becoming financially intelligent, and the power of investing in tangible assets.
On this episode you’ll learn:
- What you can learn from the wealthy during economic downturns.
- Why it’s too late to protect yourself from a recession.
- What steps you can take now.
- And more!
What You Can Learn From the Wealthy During Economic Downturns
There are a lot of well-known wealthy people who are consulted during hard economic times. For example, Warren Buffet is often interviewed on his take on the economy. My advice to you is to not pay attention to what these figures say, but instead watch what they do. You can often find Warren Buffet praising the stock market, but the truth is that in hard times, he is usually sitting on cash and buying assets.
Why It’s Too Late to Protect Yourself from a Recession
The ship has already sailed to protect your investments from a recession. Here on the podcast, we’ve been sharing the importance of investing in tangible, cash-flowing assets for years. But now that the economy has taken a turn, there’s not much you can do if you’ve chosen to stay locked into stocks and a 401k. There’s no point in complaining now or focusing on what you should have done.
What Steps You Can Take Now
Now is the time to invest in real assets like real estate, gold, and silver. Now is the time to start building your online business, to cut out wasteful spending, and to look forward.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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