Recession is coming and we know it. In some places it is staring us right in the face. Unemployment, rising cost of living, increasing food prices, falling stocks etc are some of the negative effects associated with recession. Despite this seemingly bad news,
Warren Buffet said In short, bad news is an investors best friend. And another quote by someone goes thus "millionaires are made during a recession". I have been recently laid-off work due to the recent economic crisis in my country. I do not want to see this as a bad thing. So I ask what hidden opportunities does this recession offer? How can one take opportunity of the recession to become rich or at least not go broke?
For people who have been saving funds before they lose their jobs, that would even open some door of opportunities like investing in crypto or in real assets that would likely to gain huge profits in the future. But for some who are less fortunate and who only depend their income from their jobs with no extra savings, one might hardly to recover and might stuck being broke for long time. The reason why we should not just depend on one single source of income, have a side job too so that when recession comes, and you lose your main job, you will still surely survive and wont end up being broken.