First off, I just want to say that I am NOT an economist, nor do I claim to know ANYTHING about the economy. This is strictly my point of view of where we are at.
With that said… Here goes…
I am getting asked this question more and more since the economy has taken a turn for the worse.
Portfolios are shrinking, and stocks are plumeting, but yet some people seem to never be effected by downturns in the economy.
“What Should I Invest In Right Now?”
First, don’t let the economy guide your decisions as an entrepreneur. Your investments should be VERY similar in a booming economy as they are in a plummeting economy.
You should invest in VALUE only.
So many people become somewhat paralyzed by what the economy is doing… they are guided by the price of the DOW, and that is it.
Well, that is a HORRIBLE place to be (if you are an entrepreneur), because you are putting YOUR fate in someone else’s hands.
Take some time right now to INVEST IN YOURSELF.
You don’t have to spend a lot of money, but you do have to spend some time.
Go to the library, subscribe to a relevant blog your reading… whatever you do in this economy… NEVER STOP LEARNING.
So, STOP watching the markets right now. Sitting in front of the TV or computer and watching your investments consistently shrink is NOT going to do anything for your business.
Unplug from the news for the next few days, and read a book.
I can guarantee that if you DON’T get paralyzed by these markets, and actually DO something productive with your time, then you will be in a MUCH better place than most people when we get out of this mess.
There are not many things that are CERTAIN in this life … not our economy … not our investments … not our retirement plans.
BUT … your education is the ONE thing you can rely on when the markets go south. You can rely on your knowledge to get you through almost anything.
Take some time for YOU right now … not tomorrow … not next week … but RIGHT NOW.
Start investing in YOURSELF, and start taking control of your own fate.
To Your Success,
Ryan
12 comments ↓
Hey Ryan, To tell you the truth I don’t watch any of that stuff anyway, It will only get you down, I just go on with my day to day, and see where it Ly’s. It is much better that way. Good post, keep up the good work.
L- Dorie
I agree completely AND I also concur with Dorie there. I do not watch the news, because in all honesty it’s more bad than good and I can’t change any of the bad, so what does it do? brings me down…and who needs that?!?!? Even watching the weather on tv now is ‘depressing’. So, I focus on what I can do… improve me and help others! It’s gratifying AND empowering.
Blessings,
Joy
Nourishing your mind is the best investment you can ever make. It is well worth all the time ,money,and energy you may spend.
I agree with what you say about watching the “BOOB TUBE” and wasting time on the “Net”and being affected bad things you cannot change.
Truth be told,when you invest in the markets,you are at the mercy of others. And investors do panic which is why the value of stocks go down.
So why not just do something that will improve your mind and give you an edge in your personal and professional life. Invest in youself by reading a personal development book or attending seminars and workshops on what interest you.
Ryan,
I agree! I think that investing in yourself is crucial.
I think that right now though is a great time to invest in the stock market. When a store publishes a huge sale people run in and buy as much as they can however when stocks drop people sell like crazy. Now is the time to buy stocks while they’re cheap. The whole principle of buying and selling stocks is to buy low and sell high why not buy high sell high. So my money has been out of the market until now I’m going to buy up as much stock in companies that I know will last longer than this economic crisis.
I agree with you on investing in yourself! I would like to add one more thing that I feel is just as important during the challenging times. I feel that it is absolutely a must to invest time and energy into your friendships. Friends can get each other through the best and worst of times!! Contact someone that you have not talked to in a long time and catch up. It will make both of you feel great.
Hi Ryan,
I could not agree with you more! With the economy going south. I have much more to be concerned about. For me, read a book or learn something new is great idea. I enjoy the little things in life. Spending time with my family and friends is always a good time.
Thanks for sharing, God Bless
Keith Adams
Hi Ryan, My wife and I have a ministry and we also have a website for it http://www.nevertoohot.com. I fund the ministry through overtime I get here and there. My question is, what would be the best way to earn extra income through our website?
God Bless,
Keith
Excellent post Ryan!!
yes, invest in yourself, but also invest in gold and silver!
Keith,
Well, there are many different methods to monetize a website.
First things first though… I noticed that you do not have an opt in form on your site… you NEED to start capturing leads asap.
http://ryanwade.com/aweber
That’s what I use to host my mailing list.
As for monetization…
Because it’s a ministry, you might want to just consider putting a paypal “donate” button on there.
Also, depending on what type of traffic you get to the site, you can set up “sponsored ads” where people can advertise another website on yours for a monthly fee.
Because of the fact that your website is a ministry, it probably would be hard to monetize it with affiliate programs.
Let me know what you decide to do.
Have a good one,
Ryan
Great advice! Thanks…
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