Wednesday, September 24, 2008

How to prosper during the recession

If you're prepared for difficult economic times and have the right tools, there is no reason to worry about your financial future. History has shown it is possible not only to survive but to prosper in these times.

During the great depression, huge fortunes were made by many. The Kennedy, Rothschild and Rockefeller families all dramatically increased their fortunes throughout the depression. But it wasn't just the rich who got richer - many ordinary citizens found a way to not only survive but thrive during a poor economy.

What I am doing to recession-proof myself:

1. Create various sources of income. I currently have 6 sources –

Active income:
- Pilates
- Freelance writing

Passive income:
- My three books (Boss of Me!, Sleep & Get Rich!, The Essential Post-pregnancy Weight Loss Guide)
- Pilates DVD (upcoming)

2. Selecting recession-proof industries like healthcare and motivational books.

3. Be open to opportunities (I am currently exploring another business venture).

4. Staying positive.

Want to know how to create passive income for yourself?

Look out for my second book, Sleep & Get Rich! where top 10 passive income earners show you the way.

I'd like to leave you with this quote: "Each player must accept the cards life deals him or her: but once they are in hand, he or she alone must decide how to play the cards in order to win the game."

4 comments:

Olivier - Wealth & Freedom Creator said...

Dear Pearlin, you are an brilliant example of an empowered woman.
Thank you for sharing this wisdom with the world.

Love your comments on getting prepared for change of economical seasons & you're totally right.
The wealthy of this world have transmitted generations after generations the wisdom & strategies that allows them to well positionned and benefit of these economical crisis.

I feel we are very like-minded, introducing people to new ways & strategies to create Wealth in their lives.

Today, I'm involved with a team of amazing people, who have given financial advices to the 3% richest people in the world for the last 17 years - and they want to share nowadays this knowledge with everyone to HELP CREATE A NEW WORLD CULTURE -
Being prepared is essential - we live in an abundant world, Wealth is never destroyed, just transferred. Let me share these information with you and enhance your financial future.

Olivier Leca
Wealth & Freedom Creator

Boss Of Me! said...

Hi Olivier,

Thanks for your kind words. It is true that your mindset creates the world that you inhabit. So, if you think abundance, you will get that, and vice versa.
Opportunities arise in tough times when you are open-minded and positive-thinking.
Stay inspired!

kalicat said...

Thank you for the tips and great inspiration, I truly enjoy reading your blog.

What am I doing?
active :
- making and selling jewelry
- logo design
- web design
- illustration and artwork

Passive :
copyright from previously published illustrations

x
Cat

Boss Of Me! said...

Hi kalicat,

Thanks for your kind words. It looks like you are on the right track. It's great that you have so many sources of active income!
Aim to increase your passive income sources or monetise and residualise some of your active income, and you will be well on your way to financial freedom :)