2020: Are You prepared For the Next Economic Storm?

2020 has been a year to forget. We’ve seen many bankruptcies, job losses and people quarantined for months. Just recently, the FED announced a plan to purposely increase the inflation rate.

Here’s problem #1: the FED (and government) are all out of options to stimulate the economy. Interest rates are at zero and the country has printed trillions of dollars to boost the economy. We are over 26 TRILLION dollars in debt.

Problem #2: the covid pandemic has devastated economies around the world. Some aspects of the country are SLOWLY getting back to normal, but there is still a lot of work to do. Many industries are still struggling, but what happens of we have another catastrophe? How will the economy respond?

The stockmarket has done nothing but go up for over 10 years. While many of us have gotten used to this, IT IS NOT NORMAL. Markets move in cycles. They go up, they go down. This is perfectly normal, and healthy.

See the source image

This chart shows the stock market from 1900 to 2016. As we can see, there have been periods of increase, and periods of decrease. They are normal, but for the ;ast several years, the FED has worked to keep the markets up. This is dangerous and unnatural.

Thanks to the market manipulation and various events going on such as the FED printing cash and businesses shutting down, the stock market, bond market and real estate markets could all CRASH, and the FED could do NOTHING about it. This is something most people haven’t considered. It’s critical we expect the unexpected and prepare for worst case scenarios. While we hope nothing bad happens, one of the best ways to protect ourselves is to buy gold and silver and keep it in your possession.

Why gold and silver? They have been used as currency for over 6000 years, and are welcome all over the world. They both tend to fare well during stock market crashes and retain their value. Most importantly, they are outside the economic system. They can be used to purchase goods or barter services. They could also be exchanged into cash easily or into any currency. There have been instances when people have used gold and silver to buy houses and land!

Another wise move would be to limit spending on items we don’t need. This is the time to really watch the economy and understand how money works. Don’t be surprised at what happens, be prepared and react accordingly.

No one knows what will happen next, but after everything we’ve seen in 2020, we should be prepared for anything. Don’t be reactive, become proactive. protect yourself from the economic storm that’s coming our way.

When it is announced a hurricane is headed your way, people take precautions: they buy bottled water, board up their windows and get a generator. Some even leave the area. The same philosophy should apply to economic storms. Now is the time to get prepared. Don’t wait until the storm hits before you take things seriously.

The stock market is the most popular method of accumulating wealth, but its not the only one. Pick up a copy of my book Invest For Success: Millionaire Wealth Strategies Not Taught in School. Available on Amazon.

Another way to protect yourself is by creating your businesses and multiple steams of income. By becoming resourceful, you can overcome any adversities in life, and that includes the economic kind. Join us for the Adult Entrepreneurship Class. Click HERE to register.

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