3 Ways the Next Recession Can Make You Rich:
don't let the recession destroy you, use it in your favour
Own Instead Of Rent:
With real estates prices go down and interest rates low, it may make sense to purchase your office or home rather than renew the lease. The economic relationship of rent versus own has changed dramatically in the last two years. Most accountants agree that if your time horizon for using the real estate extends to 20 years or more, the scales will usually tilt in favour of ownership. Check it out.
With real estates prices go down and interest rates low, it may make sense to purchase your office or home rather than renew the lease. The economic relationship of rent versus own has changed dramatically in the last two years. Most accountants agree that if your time horizon for using the real estate extends to 20 years or more, the scales will usually tilt in favour of ownership. Check it out.
Add To Your Portfolio: The best time to build your portfolio is when investments are beaten down and valuations are strong. There's an inverse correlation between long-term investment returns and the valuations of the market at the time you acquired your portfolio. The lowest valuations have the highest returns. Build your portfolio when securities are “on sale.”
Continue your education and build up skills:
But to recession-proof your life, one of the best investments you can make is pursuing an education, Indeed’s Sinclair says. During recessions, the unemployment rate for those with a bachelor’s degree or higher is much lower than for those who have a high school education or less.
But to recession-proof your life, one of the best investments you can make is pursuing an education, Indeed’s Sinclair says. During recessions, the unemployment rate for those with a bachelor’s degree or higher is much lower than for those who have a high school education or less.
“Economists are always emphasizing the importance of education,” Sinclair says. “That’s something, even if you can’t build up a financial buffer, focusing on making sure that you have some training and skills that are broadly going to be employable is really crucial.”
The next recession can make you a millionaire by these ways
Reviewed by harsh chauhan
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March 30, 2020
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