Although this may appear contradictory to some, it’s still possible to accumulate money during a downturn. Experts believe that recessions are one of the best times to build personal wealth. What’s the procedure for accomplishing this? To find out how to generate wealth during a recession, we turned to information from personal finance professionals, entrepreneurs, educators, and business leaders. What they had to say about it is covered in today’s video. Enjoy!
00:28 Open CDs
01:20 Learn to Invest
02:00 Search for heavily discounted stocks.
02:29 Buy Silver
03:01 Buy Gold
03:41 Invest Using the Dollar-Cost Averaging Approach
04:22 Don’t Forget About Your 401(k) Plan at Work
04:59 Set-Up Passive Income Streams
05:38 Real Estate Investing
06:08 To help your business grow, take advantage of lower interest rates.
06:46 Consider it from a business standpoint.
07:05 Online, you can sell items that are no longer needed.
07:26 Rent a Space
07:41 Your Mortgage Can Be Refinanced
08:04 Profit from Expense-Cutting Opportunities
08:30 Pay Down Debt
09:05 Maintaining and Developing Business Relationships
09:48 Make an investment in yourself.
10:15 Now is the time to budget for a large purchase and save for it later.
10:49 Prepare yourself for a new job.
Watch more Practical Wisdom!
10 Legit Ways To Make Money And Passive Income Online – https://www.youtube.com/watch?v=EAj0ZsYcHkQ
20 Frugal living tips to save a tone of money – https://www.youtube.com/watch?v=8wammvgbBgA&t=2s
16 Lessons in life people learn too late – https://www.youtube.com/watch?v=aD2qb53gNAs
10 Lies culture tells about money – https://www.youtube.com/watch?v=fRvFr2Qaor8
12 Things people waste money on – https://www.youtube.com/watch?v=DE6KZxwerp0
Practical Wisdom – Interesting Ideas
DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.
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