How to Build Wealth In a Down Economy or Recession

With economic times not where we want them to be today, the bottom line is how do you survive? Do you suddenly have to tighten your budget and deal with increased stress? Is it possible that you could get laid off tomorrow, if so then what? Can you truly plan a family vacation for the summer not knowing what will happen next? People always ask are we really in a recession? It is my profound belief that if you are not better off right now then you where last year, that you are in an economic recession.

So the question remains, if things are slowing down in the economy what should you do next? In my experience I've learned there are only 3 viable ways to truly ensure that you can beat out the economy. First, have 100's of thousands of dollars stashed away to basically buy your time through the slow periods. How much do you need? That depends how long your recession last most of us can not predict that at all. Of course you are not getting ahead either and with each passing day, if you don't have a game plan you are slowly falling behind.

That leaves 2 real solutions, they both involve investment and a serious commitment but will allow you to grow and prosperous even in a down or slow economy. The first is real estate investment for those that are positioned with plenty of liquid capital. The slower the economy the more liquid capital you will need. During a thriving economy you have a tangible asset in real estate that will climb in value. When the economy is slow people can't afford to buy homes and the rental market will increase. So your income based on rental value will actually increase that way as well. That's an increase no matter what. Over time real estate is arguably one the best investments you can make for financial prosperity.

OK, so what if you don't have tons of liquid capital. The bottom line is during a slow economic period whether it is what you are going through personally or a global issue, tough decisions have to be made. Fortunately there is another solution if you are determined. It will still require some investment, just not 100,000 dollars. It has actually been a process and an industry that has created more millionaires then any other in business history according to Dani Johnson's training and Decide Freedom International's business overview.

That industry is the home based business industry and, here is why a home business works so well not matter the state of the economy. Normally you have a retail product and as long as the economy is soaring you will be marking more and more of your products via retail. During a soaring economy people feel better about spending money because they feel that they have more of it. If the economy takes a nose dive, people are looking a way to make money and most home businesses provide a way people can make money as well. It's a win win situation for any business owner, to be able to find a need and meet it regardless of what is happening in the economy.

Not to mention the fact that you don't have to have all the "business" idea's to be successful with a home business. Plug into a business with solid training and a proven track record in an industry you feel good about "I like the travel industry" who doesn't like to travel when they have plenty of money?

by Stacy O'Quinn

Are You Working Hard To Earn Money For Others

As full-time paid employees, many of our life have something in common. First, we are all working hard to earn money for others, which is our company. Secondly, we are are going to experience at least one right-sizing, down-sizing directly or indirectly in our entire career.

During the past few years, a few of my old colleagues and I have experience it ourselves. All of us lost our jobs at different times during the last few years. Two of them even got retrenched twice.

Many of these retrenched employees have good education, are hard working, they are nice family men and women. Some of them are even in senior position with good pay. They gave all they can to the company they work and made sacrifices working overtime without pay for the sake of their company.

Once the retrenched ax start to chop, loyalty and hard work have no impact on their choice of people to axed. The good life after losing your job is going to be a huge blow.

Read this Financial advice from The Richest Man in Babylon written in 1920:

"I tell you, my students, a man's wealth is not in the coins he carries in his purse; it is in the income he buildeth, the golden stream that continually floweth into his purse and keepeth it always bulging. That is what every man desireth. That is what thou, each one of thee desireth; an income that continueth to come whether thou work or travel."

Living in today borderless global economy, everyone of us must start learning how to build our own golden stream that continually flow into our pocket once we got our full-time job. The best time for planning is during when the employment rate is high and job are easily found. These are the best time that should put into good used as the threat of job loss can happen anytime.

Just like The Richest Man in Babylon, he advised that everyone should saved 1/10 of their salaried income and lived on the other 9/10. This 1/10 of our income should be put into good use such as starting a traditional business or an internet business.

According to him, business skills are learner. Yes, you may lose your business investment when you are new but that these are business experiences that every business people must accumulate. Business are one of those trade that can produce the most reliable form of income that keep flowing towards your pocket, even when you are not working.

Do you want to earn the same amount of salaried income after 40 years of working life?

or

Do you want money to work for you and generate a continuously flow of money to your pocket for life?

Opportunities for making money are always there around you. The only problems is that you MUST learn how to seek it. It will never come to you. As The Richest Man In Babylon says: "Where the Determination Is, The Way can be Found."

by Arthur Wang

Appreciating The Driving Forces Of Network Marketing

Network Marketing can produce outstanding results if you know to

harness it's awesome power to secure your business success.

Terms such as Network Marketing, 'MLM', and Multi Level Marketing

all refer to the same type of business model. This industry has

had more than it's share of scumbag crooks and con artists that

have used and abused the concept. However, if you do your

homework and get involved with a legitimate network marketing

organization, this business model has exceptional income

potential.

Network Marketing, MLM, and Multilevel Marketing are unlike

franchises or conventional businesses in that they take advantage

of all three of the important, yet misunderstood principles of:

1) Leverage (of Time and Money)

2) Residual Income

3) Geometric Growth Through Duplication

Unfortunately these principles are not well understood by many of

the people that undertake network marketing. And that's just one

of many reasons why so many fail at network marketing. There are

lots of other reasons, and it would take volumes to cover them

all. But this is one of the more common ones. Because if you

don't comprehend and believe in these principles, it's impossible

to help others fully understand and appreciate them.

First, lets look at LEVERAGE:

Every successful person or business takes advantage of leverage.

There are only 24 hours in a day and no matter how talented you

are or how much you get paid per hour, if you don't take

advantage of leverage you're limited by the number of hours in a

day. As a side note, I have heard of cases where an occasional

lawyer was billing more than 24 hours per day...but, I guess

that's another story. By learning to leverage your time, you can

also benefit from a percentage of other people's efforts, and

dramatically increase your income while creating more free time

for yourself.

The unique and wonderful thing about the Network Marketing

business model is that everyone has the same opportunity to

become the 'owner' of his or her own business - with a fraction

of the investment of time and money of a franchise or traditional

business.

In network marketing the people at the top definitely have a

vested interest in helping others on their team succeed.

Would you rather receive 100% of one person's efforts, or 5% of

the efforts of 100 people?

Obviously 100% of one is always only ONE. But 5% of 100 is FIVE.

Not only will the total result with leverage almost always be

amplified, but your income is not dependent on only one person.

If your income is produced by the activities of many, it is much

more dependable. Even if something unexpected or negative happens

to one or more of those people, it only has a minor effect on the

TOTAL production.

It's great to get paid while you're sleeping or away on vacation.

That's one of the many advantages of leveraging your time.

Now, lets consider RESIDUAL INCOME:

When someone mentions residual income many people automatically

think of actors or musicians.

Residual income is recurring income that you continue to receive

long after the work you've done to produce it has ended. There

are lots of ways to produce residual income. However, many

people don't understand it, and still others have never thought

about or been exposed to it.

A very simple example of residual income is interest earned on

money in the bank or investments. You continue to receive this

income without having to invest any more time to produce it.

Suppose you had the choice of doing a job and earning $1,000

once, or getting paid $50/month for the rest of your life...which

would you choose? If you chose the $50/month you obviously "get"

the concept of residual income.

Clearly, $50/month will surpass a single payment of $1,000

relatively quickly. And if it lasts for a few years, or better

yet - the rest of your life - it will really be a blessing.

Residual income is certainly not about "getting rich quickly",

even though with the right opportunity it's possible to produce a

substantial residual income stream in a relatively short time.

Most people who fail at network marketing either choose the wrong

network organization or just give up too soon and quit because

they expect overnight results. It is important to recognize that

the real beauty of residual income is on the back end, not the

front, and that once you build it you have the financial security

and time flexibility to do just about anything you desire for the

rest of your life!

Last, but not least, lets address GEOMETRIC GROWTH (DUPLICATION):

The classic illustration of geometric growth is the frequently

used penny-a-day example.If you save one penny on the first day,

and double it every successive day, (day two you have 2 pennies

and day three you have 4 pennies, and so on) how much will you

have at the end of 30 days?

The answer, to the astonishment of many, is $5,368,708! Amazing,

but true.

That's a simple and dramatic illustration of how networking can

work. If I can teach you, I've doubled myself. If we each teach

someone else, we've doubled again. As this duplication or

geometric growth process goes on and on, it can produce some

amazing results in a relatively short period of time, just like

the penny example above.

So there you have it, understand and apply these three principles

1) Leverage (of Time and Money)

2) Residual Income

3) Geometric Growth Through Duplication

and, given sufficient time and effort, you should enjoy a

successful and financially rewarding network marketing

experience.

by Kirk Bannerman