Do you know what it’s like to be buried in a mountain of debt during a recession, when it’s very difficult to find the money to pay it off?
Or, to own an investment that’s losing you money every day?
It’s like having an unfriendly monster on your back that you can’t shake off. Or, with all due respect, it’s like having a cancer.
In this video, filmed at the Platinum Mastermind in Costa Rica, Nik Halik prescribes a solution that can lift away your financial cancer.
ARE YOU RELIANT ON ECONOMIC GROWTH?
If you are currently working in a job and you are reliant on your employer for your income, then you are reliant on the overall economy to grow and for GDP to go up. If it goes down, you risk losing your job to budget cuts.
If you’re buying real estate, you’re relying that the value of the property will go up. If you’re buying stocks and shares in the most traditional way, you’re reliant that the share price will go up. This is all reliant on an upward direction of the economy.
If you’re self employed, you are still reliant on the same direction in the overall economy. If the economy contracts, consumer confidence goes down and you lose business.
If your own financial success is reliant on overall economic growth, you have what Nik Halik calls financial cancer.
THE CURE FOR FINANCIAL CANCER
Of course, the economy isn’t always going to grow. What goes up must come down again. The cure for financial cancer is to select investments that will make you money even when the economy is contracting.
Most people listen to the media and buy their investments at the same time everyone else does, which is precisely when the prices are at their highest. Shortly after this happens, the supply of credit is cut off, demand for investments drops and the prices follow.
It’s at this point, in the recession, that it’s the right time to buy your investments. If you buy them when the prices are at their lowest, you can easily sell high and profit on your investment.
The catch is that in a recession, when prices are low, credit is hard to come by. That’s why it’s important to build up a buffer of cash and equip yourself to snap up the bargain investments.
The MOBE Platinum Mastermind is where the most experienced mentors in investing and asset protection share their investment methods with fellow members. To learn more about the Platinum Mastermind, click HERE.