How Crisis and Fear Helps You Discover a New Chapter in Your Life
So, what do you need to know about the marketplace? My question to you is, what are doing right now in terms of defense? What is your strategy right now so that you can defend yourself from what is going on in the marketplace right now? You have probably heard the saying that defense wins championships. That’s completely right. A great defense is the best offense. And so, that is what I encourage you to consider thinking about.
In the current market conditions, everybody is running scared. But, you need to figure out who is making the most money in the marketplace right now. The media is doing such a great job of scaring a lot of people. I mean, right now, you can go to a Costco and you will find hordes of people buying water, toilet paper, other essentials.
You can literally feel the panic if you see your social media feed right now. People are buying medical kits, masks. Literally everyone is freaking out right now. And you might be thinking to yourself what the heck is going on in the world right now! The fact is, more people die yearly from the Flu than the coronavirus. Of course, this doesn’t mean that you can be careless and treat the threat of coronavirus in a nonchalant manner. But in terms of freaking out, you definitely need to check it.
These are situations where a lot of people lose a lot of money. That’s because they lose momentum in these situations. For those who are smart, this is the time to gain momentum. Throughout history, the world has faced the threat of a lot of diseases and in the long-term their net effect on the market was negligible.
As a smart investor, you can make a bunch of money by making long term savings and investments. Long term strategies work because then you have a good strategy on how to play defense. Also, when your gaze is set in the future, the short term hiccups won’t affect you right away. Of course, you should express caution and do everything you can to safeguard yourself and your loved ones from this looming threat. But, you shouldn’t panic too much.
As far as the markets are concerned, there is a lot of volatility going on. This provides you with an opportunity to make a lot of money if you are smart about it. So, my question is what strategies are you implementing to make sure that you are taking an opportunistic approach and not a fear approach.
The financial moves you make right now in 2020 will define how your life looks like a few years down the road. In just a few short years, you can be raking in millions if you play your cards right. Ironically, this is the easiest time to make money right now.