We have seen previously thought financial institutions annihilated in the last crash. This one will be worse. This all started with the first wave of residential foreclosures. We are still just about 1/5 into clearing these from the books. There is more to come.
But, the even worse unraveling is now under way. That is the commercial real estate market. As more buildings go up for lease and more people find alternative home employment and companies put their employees to work at home this market will become like a tank falling from the sky. The direction is straight down.
Real unemployment in the US as of this writing is about 17%. In California it is said to be about 22%. So, we appear to be heading toward the abyss, toward a crash bigger than 1929. How can you save yourself from going down with the ship?
Here are 10 tips that could save your bacon.
1. Buy Gold and Silver
As the Federal Reserve continues to print worthless money backed by nothing more than a promise the USD continues to decline against other currencies. Put at least 10-15% of your assets into precious metals right now. The Perth Mint is “going crazy” selling gold in recent days. This is a sign and is worth paying attention to with gold hovering around $1400, over a 500% gain in recent years.
2. Either get out of the stock market or join a group of people who know how to gain from that market in bull markets or bear markets. If you are relying on a recovery you are bound to be wiped out.
3. Do not rely on your financial advisor at the bank. If they knew what they were talking about they wouldn’t be working at the bank for a wage, often a low wage. These people just sell products for the big banks who are in the business of profiting themselves at your expense normally. Listening to a financial ‘professional’, the ones also losing their shirt right now, could mean financial suicide for you.
4. Start learning about alternative investing. The people really good at this are usually also offshore professionals or expatriates who have access to a whole world of international banking services mixed currency investing approaches and funds. Most people in the US or Canada will never hear of these opportunities. Some are extremely low risk and very profitable. Find a good peer to peer information sharing group and get educated.
5. Learn more about the FOREX market. Many people get killed in this market if they try to trade it without knowledge. However, there is a solution to that these days with trading robotics. You can now win in this market with minimal trading skills. It is important to always learn the basics but there no longer a need to be a crack trader. Let the robotics do all the work. Most of the top funds in the world already rely on robotics to do most of their trading.
6. Do NOT rush to pay off all your credit just yet. Rather consider USING this credit WISELY. That is use it to buy assets that will easily cover the cost of your credit. If you cannot do that then yes pay off your credit because it is a drain. In my private membership club I teach people how to access enormous amounts of corporate credit while limiting their liability. Remember, most billionaires have more credit then the poor or middle class. They use the banks money as cheap investment capital to create assets that create cash flow and easily cover their debt obligations. Credit can be the key to your survival IF used to purchase ASSETS not LIABILITIES. If you can get even 40% a year on your investments (easily doable without extreme risk taking) then even a 20% per annum debt servicing leaves you with 20% a year in profit. Think about credit as a tool to create wealth instead of a means of getting some short term fun.
7. If you have a mortgage and are on the edge, consider renegotiating with the bank for easier payments. If you are in trouble and want to stay in the home find some other people who you have lost their home already and could share with you. Many people fail to consider this option. Most have huge homes and sharing that home for a couple of months or years could make the difference between losing the home and keeping it.
8. Don’t just save your money. Saving is locking in automatic losses. Your money is losing value by the day and inflation is eating away any gains there. Have maybe six months in savings for emergencies and of course some gold and silver. Then figure out how to do better than 10% a year. In fact, your search should be focused on gains of 30-100% a year. Impossible? Not at all. While the market was crashing the top traders in the world (who do take clients) were raking in up to 300% returns in a year. You just need to know where to find them.
9. Start getting internet smart. There are about 2 BILLION active users (hungrily searching for information) on the net with a million people joining each day. These people are your potential contacts. People who have large web based networks will have massive advantages over everyone else. There is much to learn about how to make a living on the net. Start now. Take some risks and make some mistakes as your success will be build on them.
10. Do NOT rely on government or business to save you in this one. The only way you will get through these next couple of years is to think outside the box, educate yourself, and build a strong network online and in your community.
The world as you know it is about to come to an abrupt halt. However, there is much opportunity in this as a whole new world is also being born. People are getting their information from a wide variety of sources these days and are no longer ‘programmed’ by the corporate controlled media to the same extent as in the past.
That is why they call it ‘programming’! You are the one being programmed! Break free of the program and seek alternative ways of building your health, wealth, and wisdom, along with your network of like minded friends. That will get you through this trying time.
Wayne Nash is a semi-retired investment professional, FOREX trader, and online entrepreneur with over 15 Years of online marketing, coaching, and investing experience and serves a large international investors network from almost every country in the world. Wayne speaks fluent Japanese and has lived in Japan since 1985 and spends part of the year in his native BC in Canada.[sc:publicidad ]
By Wayne Nash