RE: Preparing for Financial Thriving During Global Downturns
its rich dad poor dad in a nutshell... (maybe even nutshells were money at some point)
but we should prepare. I am lucky to live in Switzerland which has a halfway decent stable economy itself but its not a guarantee since I agree with you that this will be a global thing.
If you are able to go down a lot less then the rest you are going up in comparison...
I am really looking forward to you passive income flow post. I am trying to build up this stream as well and any tips, tricks or methods are welcome.
I also agree that if you are only posting here on steem that this is not a passive income but it can be an additional income if you look at it like a second job. That could also be used to diversify or reinvest as well. or you could power it up and look at the value long term
I am going to a rich dad poor dad seminar in a week, hopefully there will be some interesting stuff there as well and not just a marketing gimmick.
Yes, the core message of RDPD has always been to stop trading hours for dollars if you want to get ahead. That's one of the main things the rich fully apply! Even when someone is an executive, they are paid far more in stock than in salary.
I hope the seminar is full of content instead of marketing too. It's getting to be a thing that famous brands only market the next product and give maybe 10% real content you can't get just by reading their book. Really terrible.
As for the Swiss economy, everything I know about it says it is one of the strongest in the world, but your currency may be a bit over-valued. But again, it's all relative. People have to use SOME money, so you just need to be a better option than others. For that reason, like the USD, the Franc may come through this relatively unscathed. The economy will be affected, of course, but yours will likely be one of the more stable ones for sure. I'd still stay away from real estate for a couple years though, unless it's intended as a rental property and you're sure the numbers work at lower market rental rates.
well, the seminar is free so that is why my fear is that it will be a lot of publicity... we will see, I am not so much into FOMO as I was before
and for the swiss real estate, that is kind of irrellevant for now since I could not afford anything anyway..and I kind of fear that the swiss real estate market might be in bubble territory as well. So there might be opportunities in a few years if it crumbles down and hopefully by then I will be in the position to take advantage of it