Who Gets Rich During a Recession?
Jul 7th 2010 at 2:01 PM
Why does it seem that during a recession, the rich get richer and the poor get poorer? Uh... cuz that's exactly what happens. It doesn't have to be that way, though. For one, a big reason for this has absolutely nothing to do with your finances, and everything to do with your thought processes. When times are tough, the poor and middle class simply look to survive. The rich look to thrive. Every single time I meet someone new, and I tell him or her what I do for a living, their response is always the same... "Oh, how's that working out for you?" My response? It's great! And, it gets better every single year. Get this. Every year I double my income and I work less hours per week. In fact, I make much much more and work much much less, than when I got into this business, and the market was booming! How? I recognize opportunity when others see difficulty. And, I'm determined to succeed, no matter what the economy or housing market is like. Success Tip 1 - Thee "economy" is not your economy. We make our own economy. Success Tip 2 - Turn off the news and do NOT pay attention to what they have to say. If you listen to the news reporters, you'd think this is the absolute worst time to get into real estate. So, why listen to them? When did a reporter become an expert in real estate OR making money? Don't listen to them. Listen to The Maestro, and others who are in the business and making it happen. The bottom line is that there are always people out there getting rich when others are losing their shirts and trying their best to just survive. Be the former and not the latter. Create a plan. Stick to it. Put action behind it. Listen to those who know and ignore those who don't. And be that person. The one who gets money brought to his house in a truck.
And then use some of that money to take care of those who don't have it.
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