How to Recession-Proof Your Life

How to Make the Best of a Recession

Last week George Bush gave an official statement on the White House lawn announcing, “Our economy is in a recession.”  This week I have decided to release my own official statement.  “No shit.”

So what are we going to do about it?

Well I can tell you what not to do… don’t sit inside moping with that doom and gloom, woe-is-me attitude.  Uncle Sam might have left you, but your Uncle Kevin is here to help.  So without further ado, let’s all hold hands, sing Kumbaya and figure a way out of this mess.

Do something for yourself

Take a class, learn a new skill or travel.  Challenge yourself.  What have you always wanted to do that you have been putting off?  Now is the time.  The point is to do something that will make you feel better.  If you choose to take a class or learn a new skill it could give you an advantage over your competition when we get out of the recession.  Advantage = more money…. never a bad thing.

Become your own CEO

No I am not talking about starting your own business – although if that is something you dream of doing by all means.  I am actually talking about investing in the things you enjoy, like starting your own little empire.  I love Starbucks and my iPod so I bought some stock in Starbucks and Apple.  Made a killing in Apple.  Starbucks  Not so much.  But you can easily do the same thing.  What do you enjoy?  Where do you shop?  The stock market is holding the biggest clearance sale of our lifetimes.  It is time to take advantage.

Maximize Potential, Minimize Risk

In a recession one needs to maximize their potential. This relates back to one of the things we discussed earlier – doing something for yourself.  I recommend taking a look at your current job or hobbies and see if there is a way to make some extra money from them  For example, if you work for a graphic design company there are probably opportunities for you to do some freelance work.  Should the dreaded layoff plague run through your full-time office you have a lot less to worry about because you already minimized your risk.  In other words, you have less to lose for you have additional income.

Spend money

Yes, I know it seems like a crazy idea, but so is stuffing money under your mattress.  And the latter is not going to get us out of the recession any faster.  Go to the movies, get a massage or go shopping. Enjoy your life!

Recessions are opportunities

You only live once and I for one will not look back at this point in history as a negative.  I will remember it as the time when I began building tremendous wealth because I followed the fundamental investment principle.  Buy low, sell high.

(Please note: Kevin Rehberg is not responsible for any losses that may occur as a result of this article.  I will however take the all the credit if things go well for you.  I will gladly accept checks, too. Thats R-E-H.