This is all about improving your skills and qualifications. Wealth Factory helps entrepreneurs optimizeI am Chief Wealth Architect at Wealth Factory, author of the NY Times best-seller Killing Sacred Cows, and a Keynote speaker. Real estate is another tangible asset. Cash Is King in a Depression… Just Ask the Mafia By Harry Dent- June 26, 2015 Many people are aware that the mob made a fortune in illegal alcohol due to Prohibition in the Roaring ’20s. It’s time to minimize worry and scarcity and instead focus on making moves today that will help you I am Chief Wealth Architect at Wealth Factory, author of the NY Times best-seller Killing Sacred Cows, and a Keynote speaker. But they can’t kick your ass and break your legs like Luigi can!So who do you think got paid first? If something catastrophic happens, they’re on the hook, not you.Bottom line: it’s time to minimize worry and scarcity and instead If this recession becomes a depression, there were still one-third of people that thrived during that tumultuous time. But just having cash isn’t enough – you need to stash it in a safe place so that in the event of a financial meltdown, the institution you have your savings at will still have your cash. Why? Risk is not in the investment. For example: I have a friend named Bob who helps distressed home sellers. I’ve appeared on ABC News Now, Your World with Neil Cavuto on Fox, CNBC’s Squawk on the Street and more — and my first firm made the Inc 500. Do it In your business, focus on your strongest sectors. Foreign investments can also be a good diversifier. Do you have a mortgage with a lot of equity built up? If you have any underperforming assets, you can cash them out to pay off higher interest rate loans. navigate this chaos while being able to be a leader for others.We will experience another recession, maybe even a depression. Building Your “IA’s” – Intellectual Assets. The FDIC guarantee is a promise that will be broken for sure — they’re already in the red. If you could refinance it and pay off a business loan, you would lower your interest payments. These are people who have a property, maybe even some equity, but they’ve got to get rid of it. Now the conclusion from most is that it’s inevitable and the Fed is worried about a depression. Cash is insured by the FDIC up to $250,000 in deposit accounts, and gold is a defensive asset. Stop relying on people who know more about sales than financial strategy. Because you’re going from your home office to another office, which gives even more justification for owning that vehicle.What are some other ways you can maximize your deductions?Could you pay your kids? However, drowning in worry and scarcity as we face this downturn isn’t the best approach.It’s also pointless to try and predict when this will turn around, fully recover, or even hit bottom. To do that, I want you to automate your savings and be deliberate with your investing. You are your greatest asset. I want you to invest in yourself, develop your abilities and become more productive today, so that you can be part of the solution during these trying times.It’s your duty and responsibility to save on taxes legally and ethically, so how can you maximize your deductions? (I know which outcome I’ll be rooting for.) If you have any underperforming assets, you can cash them out to pay off higher interest rate loans. Those rates will only rise in the years ahead for the more affluent.Our country is about to face some hard economic choices. The key is to lower your outgoing cash requirement and have cash on hand to weather the storm. He made much (if not most) of his money bootlegging in the ’20s, then sold his stocks in late 1929 when Finally, when the stock market went down by as much as 89%, he reinvested that money. It pretty much just sits there.
(It’s tax deductible and they don’t have to claim income. I want you to build liquidity so you can seize opportunities.
Many people are aware that the mob made a fortune in illegal alcohol due to Prohibition in the Roaring ’20s.But most aren’t aware of how they made their greatest profits during the Great Depression: They became loan sharks.One of the rising mob bosses was “Lucky” Luciano in New York. With the help of Meyer Lansky — the ultimate financial genius, also called the “Mob’s Accountant” — and the infamous Bugsy Siegle, he implemented a strategy that helped the mob thrive during one of the worst downturnrns in history.It was a simple matter of supply and demand. People like Bob who have cash.
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