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?
Hearing about lay offs always put me off. Im sorry to hear that youve been let go.
As to your question, in a recession, it is difficult if not almost impossible for the average individual to become rich. The only people that gets rich anytime, every time are high management CEOs of multinational corporations and politicians that are as crooked as they come. Your options at the moment is to sadly not to go broke.
Where entrepreneurship isnt available as in this case, skills are very much needed. If the OP had any skills, he could get by fairly as there are some short term job offers that needs skilled workers.
During a recession, folks(mostly politicians in my opinion) that deal in insider trading are the ones that become millionaires during recession.
Hopefully, youve got some savings to fall back on or even better, youve got about 40
BTC that youve been holding for years stashed somewhere