013 [SWS] Why the Wealthy Never Fear A Stock Market Crash | I0318A

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 grew up during the Great Depression, swears the family didn’t notice.

It’s not how the general media where fear buys attention.  Wealthy people have concerns, yet use clear goals and objectives to adjust plans to increase growth.

Those who own sustainable wealth have two things in common:

  1. Diversity of income,
  2. 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 prospective.  Even before they had millions in the bank, they were good stewards of the money they have.

Think about “Where is the opportunity” and “How to position yourself for success.”  Sustainable wealth is a real thing especially for high income professionals and entrepreneurs.

Many high-income professionals are living paycheck to paycheck right now. Even more entrepreneurs don’t show a profit in the first five year. Yet they achieve wealth over time. 

Your goals, your approach, and effort matters.

“I mention reducing my fees by 3% — by no means was I in funds with stated fees higher than ½ a percent.  Moving the money eliminated commissions and lowered fund fees. 

The decision lowers my all in costs by 3% for the year.  This translates into a $50,000 increase to my retirement forecast.  Small decisions can have big impact when you don't panic.

Justin Hitt, Publisher / Consultant
[DISCLOSURE: This podcast is not intended as investment advice.  No endorsement implied or given for funds mentioned in this program.  Do your own due diligence before engaging in any investment activity.]

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