How to Stay Ahead of the Coronavirus Recession!
So, at the time of me here with you, the stock market has already dropped thirteen hundred points officially and all the gains during the Trump presidency are obliterated and gone. So, during this hard time, I’m here to talk about how you can stay ahead of this coronavirus recession.
Feeling intrigued? Let’s jump straight in.
Now to just give you a hint what’s actually going on in this coronavirus pandemic generated market downturn, here’s a kicker:
Last year we’ve got 15,000 clients as a national agency from coast to coast and this time our phones are quiet… But even after such a downfall in the stock market, our clients have lost zero amount of money. Really? But you know why? It’s not because they don’t worry about the stock market. It’s because we work to make sure that their pensions don’t get stolen, their 401Ks don’t get stolen, their retirement, livelihood, and having a purpose after retirement doesn’t get stolen. So, fellows, are you playing financial defense right now?
It’s the time now to realize that you can’t afford to lose and you need to be protected in certain situations like death or even losing your retirement.
So, for all those who’re still saying that Okay, it’s not a big deal, the market will recover, and it’ll bounce back. But you have to be prepared for hard times like this in one way or the other. You just need something to fall back on.
So, if you also want your money to stop bleeding; call us now and we’re here to shift gears at the right time in the right manner.
Besides all the bad news out there while looking at the figures of the active cases and deaths; there’re plethora of positive developments regarding development of biotech medicines, vaccines, and anti-bodies to fight with this COVID-19 that cause this coronavirus pandemic.
So, now if you know what the symptoms are, what cause them, and how you should fight it out with your protection measures. Besides this, if you look at the cases all over the globe, even the ones that have high risk and are supposed to die of this virus have recovered. They’re alive, they’re well, they’re recovered, and they’ve discharged from the hospital.
I’m not saying that’s for every case but keeping in view the stats there’s no point of getting extremely worried of the death. People are battling and surviving through it.
Fear Vs Faith
The two basic tendencies that people are generally into in such a scenario are fear and faith. The choice is totally yours and every choice has a consequences.
If you choose fear; it like cower. Fear likes the freed, fear will despair, fear likes to panic, fear likes to freeze, fear likes to destruct, destroy, panic, and ultimately you’ve got anxiety. It’s not an attitude or perspective that’ll build you and make you stand. In contrast, if you look at the opposite i.e. faith, it’s also true. If you bind with faith, it allows you to stand up and stand strong. Faith is a way to pray and to get some hope. It gives you confidence and the ability to fight. The only way to get constructive is with having a faith.
So, while you’re analyzing with how the situation is building; I’d encourage you to ask these questions to yourself in terms of savings, your retirement, and how you play with financial defense.
- Self Quarantine / National Lockdown Happen – Where do you think the market will go? Up or down? They say plan for the worst but also expect for the best and this is also important to stay positive and be constructive with the things.
- If people cannot get to work – What will happen to small businesses? – What will happen to common person? Yeah there’s a billionaire Bill Ackman out there who urged President Trump to “send everyone home now” with a ’30 day rent, interest, and tax holiday’. Who knows if this thing will happen but if it happens – great, if not you’ve got to prepare yourself for the worse.
- For Every day that you wait – What will happen if you do nothing? – Like you’re just self-quarantine and are hoping that the market will come up and will bounce back. But what money smart people and moneywise people do you know? They just evaluate each and every consequence of a decision that may come up. So, you’ve got to figure out what’s the worst case scenario for you.
Improvise – Adapt and overcome
So, you have to adapt this situation and work from where you’ve stuck in. So, ask yourself can you work from home? Can you make money from home? Can you tell the commute? Can you make a video and earn? Can you market and make money online? With the resources you have that include technology, your cell phone, and such stuff.
You also have to ask yourself “Am I forced to seek a different way to make a living?”.
So, you may have to seek a side business and an additional opportunity to earn a living. As necessity is the mother of invention. So you have to think about the alternatives you can work about.
Besides this all, you have to find relationships, mentors, possible partners that will help you in this transition.
So, during this recession time, it’s time to build new relationships. So make friends, find likeminded people from Facebook to Instagram and many others out there.
Answer yourself if the business or the career you’re into is workable in good economies as well as bad economies. If you’ll not figure out now then again you’ll be heading for another failure in the future down the road. So, longevity of income is best tested in the worst possible situations. Try to find out business and career that will survive and thrive during these trying times.