Quote from: tygeade on February 17, 2024, 05:19:52 PM

Quote from: Mame89 on February 17, 2024, 03:25:29 AM

When a crisis occurs or a downturn occurs, new opportunities will open up, we just have to be clever in looking for these opportunities. Therefore, if we want to survive in any situation, we need to change our fixed mindset to a growth mindset so that our creativity continues to develop even in conditions of economic crisis.

We must be able to learn from previous people, because economic downturns have occurred in the past and of course we don't want to fall into the same hole. The closest example to a pandemic was several years ago, many people experienced financial difficulties, many were laid off, many entrepreneurs also experienced a decline in their business. However, many people who wake up finally have the opportunity to start a business, namely online sales, trading, investment and many more that we can search for on the internet to increase income so they can support their families.

Honestly, it is not that crazy neither, usually everything goes down in price and we just need to buy it. Stocks go down? Buy them, Crypto goes down? Buy them, House prices goes down? Get them. So all in all, it is not a confusing system, the prices all crash during a crisis and that means you are free to just invest as much as you can.

Being cash rich during a big economical crisis could lead you to have so much money, and it would be great for you on the long run. You could then just wait for them to get back to what they were, or even higher which would mean you could profit from their recovery easily. It is not going to be that simple for the longest time so you should take that chance right away and not wait.

Exactly, an economic crisis is a great way to make money for those that are prepared, and while it is clear that those that are rich will take the majority of the opportunities available, that does not mean that a person that can save their money during the previous years cannot do the same at a smaller scale, if anything I am waiting patiently for it as the next time a massive crisis appear I think I will be able to not only endure it, as I have done on years prior, but I could also benefit from it with the right moves.