Based off of my experiance in a personal recession... going
from 116,000 in debt to paying off 70,000+ and making 250,000 in
2 and a half years....
With economic times not where we want them to be today, the
bottom line is how do you survive? Do you suddenly have to
tighten your budget and deal with increased stress? Is it
possible that you could get laid off tomorrow, if so then what?
Can you truly plan a family vacation for the summer not knowing
what will happen next? People always ask are we really in a
recession? It is my profound belief that if you are not better
off right now then you where last year, that you are in an
economic recession.
So the question remains, if things are slowing down in the
economy what should you do next? In my experience I've learned
there are only 3 viable ways to truly ensure that you can beat
out the economy. First, have 100's of thousands of dollars
stashed away to basically buy your time through the slow
periods. How much do you need? That depends how long your
recession last most of us can not predict that at all. Of course
you are not getting ahead either and with each passing day, if
you don't have a game plan you are slowly falling behind.
That leaves 2 real solutions, they both involve investment and
a serious commitment but will allow you to grow and prosperous
even in a down or slow economy. The first is real estate
investment for those that are positioned with plenty of liquid
capital. The slower the economy the more liquid capital you will
need. During a thriving economy you have a tangible asset in
real estate that will climb in value. When the economy is slow
people can't afford to buy homes and the rental market will
increase. So your income based on rental value will actually
increase that way as well. That's an increase no matter what.
Over time real estate is arguably one the best investments you
can make for financial prosperity.
OK, so what if you don't have tons of liquid capital. The
bottom line is during a slow economic period whether it is what
you are going through personally or a global issue, tough
decisions have to be made. Fortunately there is another solution
if you are determined. It will still require some investment,
just not 100,000 dollars. It has actually been a process and an
industry that has created more millionaires then any other in
business history according to Dani Johnson's training and Decide
Freedom International's business overview.
That industry is the home based business industry and, here is
why a home business works so well no matter the state of the
economy. Normally you have a retail product and as long as the
economy is soaring you will be marking more and more of your
products via retail. During a soaring economy people feel better
about spending money because they feel that they have more of
it. If the economy takes a nose dive, people are looking a way
to make money and most home businesses provide a way people can
make money as well. It's a win win situation for any business
owner, to be able to find a need and meet it regardless of what
is happening in the economy.
Not to mention the fact that you don't have to have all the "business" idea's to be successful with a home business. Plug
into a business with solid training and a proven track record in
an industry you feel good about "I like the travel industry" who
doesn't like to travel when they have plenty of money?
A home business will not only allow you to survive during a
slow economy but you will be able to thrive, invest in real
estate, pay off debt, be your own boss, spend more time with
your family, travel the world, and you have the ability to make
a 6 figure income.
Stacy O'Quinn is a Husband and Dad. He went
from 116,000 dollars in debt to 253,000 dollars in net income
and paid of 72,500 dollars in debt working strictly from home
after the military. He teaches people to do what he's done at http://www.moretimegreatmoney.blogspot.com.
