The coronavirus is high news driving a US Stock Market crash; the DOW plummets 2,100 points. Discover what the wealthy do so they don't have to worry about a market crash. And you can do it too.
In hundreds of interviews with the wealthy, I found they don't worry about market crashes. One wealthy individual who grew up during the Great Depression swears the family didn't notice.
That's not how the general media wants it. Every news broadcaster wants you to know how bad the markets fell. It's a world where fear buys attention.
Wealthy people have concerns yet use clear goals and objectives to adjust plans to increase growth. They prepare in advance for the ups and downs of markets, including the stock market.
Those who own sustainable wealth have two things in common:
- Diversity of income,
- Diversity of assets,
And these two things are not the same. While your assets cash flow, those with sustainable wealth don't depend on that cash flow as income.
Wealthy individuals are NOT ignoring disaster; they have a different perspective. Even before they had millions in the bank, they were good stewards of the money they have.
Think about? Where is the opportunity? How to position yourself for success? Sustainable wealth is a real thing, especially for high-income professionals and entrepreneurs.
Yet many high-income professionals are living paycheck to paycheck right now. Even more, entrepreneurs don't show a profit in their first five years.
Yet they achieve wealth over time. With your goals and the right approach, your efforts can matter for wealth creation. Markets don't matter as much as you think.
[DISCLOSURE: This podcast is not intended as investment advice. No endorsement is implied or given for funds mentioned in this program. Do your own due diligence before engaging in any investment activity.]
A business analyst and publisher. Had $250,000 in his retirement by age 25 while losing it all in the dot.com bubble. Invested more than $575,000 in the expense of experience that showed him what works for increasing net worth. Discovered value of actually listening to mentors.