Time is runnig out! - Once In a Life Time Opportunity?

in hive-175254 •  2 months ago 

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With the inflation numbers coming in at a higher number than expected and the chance of the FED rising the rates maybe even to 100 basis points the situation is not getting better. The recession talks are getting more and the average investor is now focusing on getting his money out of the assets in order to pay for food and other life necessities. With that being said, I think the time for a live time opportunity is running out. In this article I want to talk about what I mean by that and what I think the best steps would be right now in order to get the maximum out of this situation.

Time Is Running Out

So what do I mean by the time is running out? Isn’t it good that the recession would have an end at some point? Well, yes but I want to shar with you one piece of information that is crucial to all those people that are trying to get financially free: The most millionaires are made in bad times like a recession and after the 2008 recession a big junk of millionaires came to the party. This means that when looking at it from the investors perspective: Now is the time to make money!

When solid assets like companies in the S&P 500 or even Bitcoin are dropping like dead birds and the fear mentality is kicking in, the smart investors knows that it is time to go shopping again. It is really hard to predict how much more the market will decline but it is almost safe to say that we will see another big decline in the next few months. Over these next 1-3 years it is very wise to keep investing and not to wait until the worst time is over as you can never predict when the times will change again.

Understand The Position

We really need to understand the opportunity that we are given. Imagine being the person who bought Amazon or Alphabet stocks right after the Dot Com bubble. I think that these people are filthy rich right now and this is what I am expecting to happen to Bitcoin holders in a few years. It will be one of the most demanded goods on the planet and I think that we have a great privilege to know about it already.

Yes there will be some regulations along the way, and yes this will probably bring Bitcoin down even more, but we need to look at the big picture here. This recession is a chance for the biggest wealth transfer in history and we are in the middle of it! Now that we recognized the opportunity, the main question is now: How do we profit from it most effectively?

Get To Work

I am aware that many people right now are really not having the best times to invest. I also understand that living right now is very expensive. But this is exactly where I want to cut in. I think that having a job right now could be considered more of a privilege rather than a given fact. Having a constant flow of cash coming in is the most important point right now. What I would propose is having definitely a side hustle or other ways for cash flow. I think that having multiple sources of income is the trick that needs to be performed in order to stay over water and still being able to invest. Another way of securing cash flow is to invest in yourself and your education. Make yourself important to your company by learning a new skill that you can potentially use in other sectors of your life. Starting a business would be also a great shot but I recognize the implications with that. All in all I want to say that it is important to maintain the cash coming so that you do not have to touch your investments.

Use The Money Wisely

Now that we secured the incoming cash flow, we definitely need to think about how to use it! I think that unnecessary expenses like Starbucks coffee or take out food should not be discussed here. I am under the impression that everybody here knows that these expenses can eat trough you wallet quicker than you can blink. On the other hand I would not be to cheap on food in general. In the end you need fuel in your body to stay healthy and fit and without a functioning body and mind all the money in the world will not help you.

Furthermore, I think that development of yourself career wise as well as personally is very important. Therefore, an investment into a new skill is always valid and should never be taken away, no matter how bad the situation is. Last but not least I think it is important to diversify your investments. Yes Bitcoin is one of the assets that will probably heavily benefit after the recession but we also need to consider other asset classes as well. The easiest way is certainly the S&P 500 and I think that this can be one of the smartest way to make your money work for you right now. I guess, what I want to say here is that using your money wisely is very important in this kind of situation. In the end it will be the decisions that you will make today that decide whether you can get closer to financial freedom after the recession dissolves.

Conclusion

To conclude my thoughts I would say that the next few months will be very hard. The assets will fall into the reds and it will feel like grabbing a falling knife every time you invest into one of these assets. In these cases I always try to zoom out a bit and look at the big picture and I understand that the time to profit from this situation is getting less by the day. This is why I will try to double down in my side hustles and try to multiply my income streams. What are your plans for this period of time? I would be very interested to hear your strategies in this situation.

Published by ga38jem on
Steemit
On 26th July 2022

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Your post was upvoted and resteemed on @crypto.defrag

Times are genuinely really hard, asides from cryptocurrency even the normal world is really difficult at the time. Picking up as many side hustles as I can handle is one way I hope to get through this difficult season, Cutting down on expenses as much as I can is something I am have been trying to do and will keep doing.

Very good strategy! Thank you for sharing your strategy :)

It is very true that we are living in highly difficult moments, but like you correctly mentioned, it is very possible for us to make the most use of the situation.

Learn one or two things, invest in profitable ventures, think about new ideas that could help us emerge as winners after the bad time is over.

yeah hopefully it willl get better soon :)

@tipu curate 3