There's absolutely no doubt that these are some of the most challenging times we have seen in generations. Almost overnight, the entire world was turned upside down, and also the traditional, predictable method of life seemed to evaporate.
Yet many experts suggest that this might be the opportunity to create a real impression. If you believe in being proactive and tend to have a positive attitude in normal life, what opportunities should you be looking for the time being, once the pressure is around?
1. Trust Precious Metals
In times of uncertainty, individuals typically flock towards precious metals. This is particularly the case now. Many people think that the scale of the present issue triggered an unusual sell-off as people attempted to free up some cash by liquidating precious metals, but standard business has been resumed.
As is normal, gold is your number one commodity at the moment, and you may expect the price to move steadily upward as the scale of the situation unfolds. Scarcity can be driving this commodity high, and there's absolutely not any doubt that gold will be among the greatest investments through the remainder of the year.
There are, of course, other precious metals to consider, such as silver. This metal might be affected, however, by a decline in the sum of industrial capacity as this will often create a glut. Industrial throughput will probably recover, however, and you could be able to buy silver at a great cost in order to hedge for the future.
2. Purchase Real Estate
In 2008, the great downturn was bad news for real estate investors. It's not the exact same that time, but since it will get much more economical to invest in a good property and especially given the relatively low yield on"safe" components, such as bonds.
It's very likely that more consumers will be pushed towards the leasing market as well. And, with private incomes in temporary decline and a great deal of pressure on economies, the home market is likely to be explosive.
Make the most of low rates of interest and an emerging market by placing your money into housing stock that can be converted into rental properties. With mid to long term aspirations, you ought to be in the ideal position to capitalise when items naturally begin to rebound.
3.Buy a (good) Business
In recent years, more people than ever have opted to take control of their own fate and start their own organization. This can surely be a fantastic alternative in hard times, but it might be more valuable to buy a business rather than starting one from scratch.
Just think about the number of baby boomers, there are at the moment and how many of them are at or above retirement age. Tens of thousands of these individuals have worked hard all their life, and they'll certainly be motivated to sell now, or even before.
Many of these business owners really are what they call "lifestyle" operators, plus they have a business that could endure their departure using a second-tier management level already set up. This means you could think of a creative solution to assist them over their company without too much cash advance in your part.
4. Or Consider an Online Business
Or why don't you begin an online business? These days, there are many chances, and there's no reason why you cannot make the most of your expertise or lifelong expertise.
Maybe you can instruct others to do what you do and get involved in the education revolution. Maybe it's possible to set up an online business to sell a niche product or promote a specific service. In the end, it's really simple to communicate with people nowadays and much simpler to accept cash using a variety of online portals.
Above All, Develop Resilience and Fortitude
Times like these, phone for endurance, and you need to look for some practical answers to power your way through. While we might encounter a worldwide recession or even a moderate economic depression as matters unfold, it is still time to concentrate on your personal empowerment.
Look for sensible moneymaking solutions while others could have their head in their hands.