Surviving This Economy With Wise Investment Planning

Many investors in today’s economy are pessimistic about investing. Many doubt that there is anything that is a wise investment plan. With the unemployment rate running very high consumers have no confidence in a positive outcome. However, there are very seasoned investors that have experienced many economic downturns throughout the decades that say that this is the perfect time to make lucrative investments. In fact they say that we can come through this economy better off than when we entered it. Some of the best investment opportunities can be found right now.
We will review here some wealth building strategies that can bring financial gain during this economic downturn.

1)  Don’t Follow The Crowd

Because of the current markets’ volatility many people, reacting from fear, are racing to invest in government type commodities such as Treasury bonds or to the steadfast investment of gold. The smartest time to invest in gold instruments are when they are in a lower valuation not, as they are now, at the top trading price. Gold is currently trading for approximately $1400 an ounce. It would have been a great investment to buy a large amount when it was valued at $300 to $400 per ounce. Government type investments such as bonds are seen as extremely dangerous at this time with the huge debt that our country is burdened with.

As investors we can look where others may be ignoring such as EFTs (Exchange Traded Funds) and technology stocks. Many of these are still being traded far below their value thus they can bring great reward as part of a wise investment planning portfolio for those willing to take a little risk. It is said that steel and industrial production type stocks can be a smart long term holding investment instrument. These may bring the rewards we desire and will show our investing savvy that we didn’t follow the crowd.

2)  Build Multiple Investment Streams

It is common thought that tumultuous economies such as the one we are facing are the worst time to start our own business. However,this is fearful, lack and limitation thinking. The Internet provides us with a multitude of opportunities for building extra income streams. We can provide freelance writing services, ghost write books or offer editing and proofreading to writers. We could offer consulting to others in some field that we are well versed in. These are all excellent opportunities online to add anywhere from 100 to 1000s of dollars per month to our bank account.

A home based business can often be started with very little overhead. There are plenty of millionaires that will attest to the fact that they took their extra time and financial need and built a business that was rewarding and lucrative. Some examples of the types of businesses we can start part time are trash hauling, pet sitting, catering, errand services, child care, house cleaning and gardening. All of these could be started with little start up capital and turn into full time, financially rewarding endeavors.

This type of investing in ourselves is very appealing because most of us dream of being our own boss, working the hours we want and doing the kind of work that we enjoy. This isn’t a pipe dream; it is totally attainable. If we feel a little overwhelmed about how to start a business there is plenty of information for free on the Internet. We have no excuse for not venturing out other than fear or as my mentor calls it, “Chicken heartedness”.

3)  Invest In Real Estate

Because so many bought homes in the real estate bubble in the early years of the 2000s we are seeing the current financial devastation in the real estate market. Foreclosures are at an all time high with people literally walking away from their homes because they realize that they will never get the value out of their homes and they cannot afford to keep on paying the mortgage. There is much speculation about whether we at the bottom or if we will continue to see home values continue to drop.

In this real estate climate it is the perfect time to buy a home for our self or as an investment if we have the the money. When the markets start to recover prices will begin and continue to escalate thereby bringing a good return on investment. As part of our wise investment planning portfolio we want to invest in real estate as one of the most sound instruments available to us. Some are tempted to hold onto their money, stashing it under the mattress but real estate investing is a far superior strategy.

There are entire real estate courses that teach people exactly how to buy distressed (physically or financially) real estate in a market such as the one we are facing and will be for some time yet to come. There are specialist realtors that are savvy in creative ways to purchase distressed homes. They are happy to help us find real estate for our personal home or for our real estate investment portfolio using creative methods. Many times these kind of transactions are a win win scenario for all involved.

The Winning Mindset

What will it take to get us through this nerve wracking financial time? It’s going to take courage and tenacity. Some will, no doubt, lose everything they had. Others will become rich because they are tenacious and use sound investment strategies. Courage is feeling the fear and doing it anyway. We cannot afford to pull the covers over our head and hide if we want to prosper in this economic climate.

To succeed in these troubled waters we’re going to need to make creativity the ship that gets us through. We need to turn off the television and put on our thinking cap to come up with a viable investment strategy. All the bad news on the tv and radio will only raise our anxiety level. We don’t need to sit and listen to the newscasters chew over and over . . . and over the doomsday messages.

The winning mindset is one that can be nurtured with positive messages, books and music. We can choose to fill our brain with inspirational power that can keep us moving forward. I think of it as gasoline for my soul. There are scientific studies that prove that when we are thinking on positive, happy thoughts we have more energy, strengthen our immune system and are more productive. I believe that it is also like preparing fertile ground for the seeds of creative abundance to grow.

Whether we choose real estate investing, our own online or offline business, or stocks as ways to strengthen our financial picture we have the power to rule our own destinies with a wise investment plan. Let’s get started!