I read and recommend The Daily Reckoning (see link at the end of this page) by Dan Denning of Port Philip Publishing and recently he addressed some real questions on why people fail to act when doing nothing can severely prejudice their future.
Dan believes that the era of the global credit bubble is almost at an end and despite the desperate, final efforts of government officials and central bankers around the world, what happens next is unknown to anyone. However, when it’s over, the world you live in will certainly never be the same again.
You have important financial decisions to make in the coming months.
If you don’t want to see your wealth, lifestyle and retirement dreams eroded this year, you can’t afford to be passive now.
You may believe the global debt crisis will quietly burn itself out if you just switch your TV off… and that doing nothing with your investments is the best thing.
Be clear: doing nothing is still doing something.
Sure, people say that we are safer here in Australia – but are we?
As Dan says: “This is a great country. It’s affluent. The climate is amazing. The people are warm, funny and friendly wherever you go. The footy season is kicking off again. There are plenty of reasons to be cheerful.
But I’m not sure a private debt-to-GDP ratio approaching 150% can be sustained.
I’m not sure a housing market that supports prices upwards of nine times average salaries – as is the case in Sydney – can continue on much longer.”
Dan describes the typical Australian’s situation in that if they invest in stocks, which we all do if we have your superannuation with a management fund. Our money invested now is effectively where it was in 2005 after 7 years of returns swallowed by poor choices and poor performance.
Right now you have seven years of losses to make back. Keep doing what you’re doing and it will take longer.
Investing for retirement is something that affects every working Australian. If you plan to give up working for a living in the next 5-20 years, this affects you.
Nick Sayce, a speaker at Dan’s recent conference on the move to a New Economy pointed out the real value of entrepreneurs in building wealth. He told attendees to look for small businesses which are revolutionizing their industries. This is where the real wealth is.
Network marketing (and particularly my primary opportunity) is based upon this principle. As interest rates rise (as governments try to attract foreign investment), inflation jumps and house prices plummet (and the credit bubble bursts), we will all find it tougher to survive. Some of us will walk away from insanely high mortgage repayments on properties worth a fraction of what we paid for them.
Imagine though, if you had a monthly income stream that covered all your bills. You could even incest in the future and copy the Chinese Government and buy gold as a currency hedge and a way to secure your wealth.
Imagine your own small business which insulates you from self-obsessed politicians who up the burden on business by increasing superannuation levies and raise taxes so that ordinary workers cover the cost of their bad management of the economy. It will be up to taxpayers to contribute to the government coffers so that payments can be made to cover the interest on the national debt and the consequence of easy credit and significant borrowing against non-producing assets.
Running your own (network) business can generate significant taxable deductions with international travel, computers, communication, clothing, accommodation, conference attendance and your own self-managed Super fund.
Now is the time to get into business for yourself.
In reality, you have little choice.
If you think that your job is secure now and that your income will rise sufficiently to get you through the next 6 to 36 months, think again.
When Greeks recently were unable to withdraw their money from their banks or buy food from the stores, there were riots in the streets. As Dan points out; they were everyday citizens smashing glass, burning cars and protesting.
We have the time to educate ourselves on how to run a successful network marketing business, build a team and get that permanent residual monthly income and build real wealth.
Do it now. Start with the 1st class education of MLSP and progress to a primary opportunity which will still be relevant in the times ahead. My opportunity is one because no one will be able to afford to get ill and our product has an impact on a host of chronic illnesses. Our business plan is also perfect for our times and sufficiently lucrative in the short to medium term as to be ideal if you start now.
I strongly recommend that you read Dan’s blog. Subscribe to his newsletter. It will open your eyes. Read and plan your strategies because it will matter. Here’s the link. Go there now and then come back to my page and add your comments to the discussion below.
Here’s the link: Daily Reckoning.
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