I'm choose not to participate in the current (or any) recession...
By ParaTed2k
@ParaTed2k (22940)
Sheboygan, Wisconsin
January 22, 2012 7:41pm CST
That's right, I simply choose not to be part of it. There's nothing about it that is in the best interest of my family and I.
How can I simply "opt out"?
Most people put all their eggs in one basket. They rely completely on the good fortunes of that basket for their (and their family's) financial well-being. Furthermore, they put complete trust and faith in that basket for their family's health, welfare, housing and even the food they eat.
Multiple Streams of income is the key to simply choosing not to participate in whatever financial quagmire your country is mucked into.
So, no matter what basket you currently keep all your eggs in, I'd recommend you learn more about Multiple Streams of Income means, and what we who choose not to participate in the recession are doing that you aren't.
4 people like this
5 responses
@ParaTed2k (22940)
• Sheboygan, Wisconsin
23 Jan 12
Well, most of the people I know who have mutliple streams of income going aren't participating in the current recessions. Of course, there are no guarantees in life, but that's another thing. The people not participating in the recession aren't looking for guarantees in life either. ;~D
1 person likes this
@ParaTed2k (22940)
• Sheboygan, Wisconsin
23 Jan 12
Really? My family and I haven't been impacted by the recession. In fact, many of my friends are buying houses, going on trips, eating what they want, and otherwise carrying on as if the recession isn't happening.
I know a lot of people who are able to buy homes that they weren't able to buy before, because homes are at a more reasonable price.
The difference is, we have prepared in ways that can't happen if you have all your financial eggs in one basket.
1 person likes this
@GardenGerty (169474)
• United States
23 Jan 12
I know a bit, but not been as successful as I could be. I guess I will come check your profile and see what you have to say there. I am always ready to listen.
1 person likes this
@sid556 (30953)
• United States
23 Jan 12
Ok, you've caught my interest on this one for sure. Do tell us more. I suspect but am not sure that you are talking about investing. If that is the case...well, I'm screwed because there is no way I have anything to invest. I live paycheck to paycheck. I do sell incense burners that I make on the side and it helps get us by but hardly enough to live on. Time is a huge factor since I have a 17 yr old at home that has some health issues and I'm constantly up at the doctors with her and also babysit my 1 yr old grandson on the nights that i'm not working. I feel that It would be impossible to put another basket out on this table of mine but I am very open to suggestions as I'm always looking for ways to improve my situation.
@ParaTed2k (22940)
• Sheboygan, Wisconsin
23 Jan 12
Some investment, other things just making money on the side. As you put it, you make incense burners and sell them. That's one stream. Mylot (in its way) is another stream (although small). Other things can be done online for little to no cost, but it does take time.
The real buffers from recessions are residual income. After an initial investment of time/money, they start paying whether you work or not. In other words, you quit exchanging hours for dollars and start enjoying those hours and dollars even more.
@RebeccaScarlett (2532)
• Canada
23 Jan 12
Good strategy, but don't forget about minimizing debt and saving whenever you can through the good times. Recessions are a goldmine for people who have money set aside: when houses are being foreclosed and sold for one tenth or less than what they were worth before the recession, it's a good time to buy if you can truly afford it. Wait it out a few years, and turn a handsome profit!
1 person likes this
@ParaTed2k (22940)
• Sheboygan, Wisconsin
23 Jan 12
Absolutely! Minimizing debt and having a savings are two awesome tools for choosing not to participate in recessions. People think no one is buying houses or real estate anymore, but that just isn't true. There is a sale on houses now, and who wants to miss out on a sale? :~D
1 person likes this
