Posts tagged investing
Most of us understand just how bad the economy has been over the last few years. We’ve had issues with higher food costs, increased gas prices, skyrocketing energy rates, and a shrinking economy. But the worst issue of all is the loss of jobs.
In these tough economic times we can either rise to the challenge or be crushed under the pressure. My biggest concern has been how others have and continue to react to the current conditions in general and the struggling job market in particular.
There have been two primary reactions to the poor job market: (1) acquiring a second job, and (2) going back to school for an additional or advanced degree. Now, I’m all for higher education, BUT the problem with both of these responses is that neither of them addresses the problem…lack of jobs.
Consider this for a moment. If there are too few jobs, how does getting a second job solve the problem? Moreover, how does acquiring a degree help you get a job that may not be available? Aren’t there others out there with the same degree you are trying to get that are struggling in this very job market? Of course there are. Do you have 4 years to wait? Maybe. Does adding more debt solve your problem? Probably not.
So it becomes pretty clear that the solution to a lack of jobs is …Job Creation.
Enter the Age of the Entrepreneur
Entrepreneurs are born out of crisis and are by nature problem solvers. The “crisis” could be personal, or they could strive to solve a problem bigger than themselves. But make no mistake, effective entrepreneurs are indeed problem solvers. As for job creation being a solution to a poor job market, think about the effects one successful business owner can have on the market.
If you start a business and you plan for it to become successful, you will require the assistance of others – either as staff members or consultants.
For instance, you may need a bookkeeper or accountant, or you may need a lawyer at least to form your business entity. You may also need staff members to do paperwork, filing, customer service support, etc. But it does not end there. Consider professional services such as marketing and advertising companies, joint ventures, associations, suppliers and vendors. All of these people would generate an income because of a successful business. Now imagine thousands of successful businesses!
The truth of the matter is that entrepreneurship is the heart of an economy. Simply look at any nation with a struggling economy and you will find that free enterprise is on life support. Is it the solution to end all of our woes? No. There are many challenges that face our economy and it will take strong, smart, moral and financially literate leaders to solve them but it is up to the entrepreneur to relieve financial strife whenever and wherever possible.
“Fighting the evil forces of poverty – both yours and mine.”
Robert E Reed
Unless you’ve been living under a rock the last three years you probably know that we have been and still are experiencing some economic turmoil. During this same time frame, the hottest industry has been precious metals. Gold and silver in particular have gone from $800 an ounce to $1,400 an ounce and $14 an ounce to $30 an ounce, respectively.
You may have also seen TV ads offering to give you cash for your gold. Have you wondered why they are doing this? And what about some renown financial minds stockpiling gold and silver while recommending you and I do the same? Not to mention countries like China buying boatloads of gold and silver as well as other precious metals. What do you think it all means?
What they all have in common is that they are building financial arks in preparation for the economic storm ahead. Are you?
There are some simple strategies you can utilize to build your own financial ark.
3 step plan to building a financial ark
The foundation should start with information and financial education. Information is stats, trends, regulations, graphs, etc., while financial education is what you will need in order to understand the information you receive.
You can use the next 3 steps to build an ark that can weather the upcoming financial storm (pun totally intended).
Step 1. Join a network marketing company, preferably a gold and silver MLM. Why? Because you will be positioning yourself in the hottest industry today. Can you imagine building and preserving wealth at the same time?!
Step 2. Buy both collector grade gold and silver as well as bullion. Why both? You ask great questions! Graded gold and silver are the kinds you can make a residual income with. Bullion is the money of kings and will be cheaper while being an awesome way of preserving your wealth with the weakening of the dollar.
Step 3. Help others do the same. It comes down to the words of the great motivator Zig Ziglar: You can have what you want if you help enough people get what they want. This is essential to building your wealth. You could do it on your own but you know as well as I do that it will take much longer. Truth is, wealth-building is a team sport.
And there you have it. A 3 step strategy to help you take advantage of one of the largest transfers of wealth since the Great Depression. Are you ready?
“Fighting the evil forces of personal poverty – both yours and mine.”
To the rich, money is simply a game. While the average person sees it as a source of frustration and stress the rich sees it as a means to an end. To what end? In a word, “FREEDOM”. Freedom from the bondage of bills, freedom from limited options, freedom from a J.O.B, freedom from “checking” the price tag, freedom to travel, freedom from saying “Mommy/Daddy has to work, I can’t go to your game……, Just plain freedom. Wouldn’t you want that type of freedom? It’s about freedom not the money, only what the money represents.
First, the rich view themselves as either making money or losing money. Inflation does not stand still and nor does their money. They don’t save they invest. Second, their financial outlook is either “Win or Learn” instead of win or lose. They play the game of money to win while the average person plays not to lose (if they play at all). Lastly, the rich buy or build assets while the average person buys liabilities (stuff). Clearly the biggest difference between the rich and the average person is mindset, attitude and habits.
Like life, the money game has a time limit. I heard the financial game of life broken down into 4 financial quarters;
Ages 25-35 is our first quarter (REAL job working years)
Ages 36-45 is our second quarter
Ages 46-55 is our third quarter
Ages 55-65 is our fourth quarter (at this point many of hope to retire)
Ages 65 and beyond is overtime. (if you can’t retire)
Where are you in the game? Are you winning or losing?
For most of us this can be extremely eye opening. Rather than fearing the reality of falling behind in the financial game use it to empower you to make “in-game ” adjustments. In professional sports, teams often fall behind early on but make dramatic comebacks. (Except the Texans…just poking fun at the home team!) Winning teams figure out what is not working and adjust.
You too need to be savvy enough to strategize your comeback but flexible enough in your approach. Figure out your options and execute while there is still time. Here are a few play call options;
How do you know there is still time left on the clock? You are still breathing aren’t you?
Now get out there and win this game!
“Fighting the evil forces of personal poverty both yours and mine.”
How to Win in a Down Economy
You may have come to the realization that you may not be able to retire due to shrinking retirement account or a bad economy. Now may be the time to right the ship and build a Plan B to launch your comeback. Winners adjust, losers complain.