Steps To Create Wealth and Avoid Massive Economic Pain

Written By Gary Spirer Published February 10th, 2010

Massive Economic Pain = Structural Change in the world economy

Structural Economic Change is being reflected by:

1. Increasing oil and gas prices
2. Declining home prices
3. Lose of jobs
4. Competition for strategic metals
5. Shift in economic power
6. Depreciation of the dollar
7. Sell off of U.S. assets to foreigners

In this fast changing economy, you need to understand and create a flexible plan that protects your downside gives you maximum staying power and takes into account the following:

1. Paper money is rapidly depreciating.
2. Inflation is higher than stated.
3. Changes in U.S. oil policies will take many years to implement.
4. Real Estate home prices will adjust downward to the long-term trend life of home price compared to rent ratios.
5. Stock market returns will not compensate for inflation and taxes.
6. Proposed economic plans by politicians will require an increase in tax rates.
7. There will be a desire to tax the rich as a deflection from the real issues of oil dependency, overspending and exporting jobs.
8. Increased gas prices will affect all areas of life and change business and lifestyle patterns.

15 Steps to Create Wealth in Uncertain Times:

Step 1. Use leverage in every area of your business.
Step 2. Exchange your talents, knowledge and skills for equity.
Step 3. Use networking and collaboration to test every aspect of your business before you launch.
Step 4. Wherever possible do not take on any long-term commitments such as office space or loans.
Step 5. Review every expense as if it were too high and had to be lowered to survive.
Step 6. Partner with groups that can spread your products and services quickly in exchange for a share of the revenue.
Step 7. Review all potential exposure to your assets especially legally.
Step 8. Assess all commitments and prioritize those that will give you the greatest rate of return for the least input.
Step 9. Build flexibility into your business so that almost all costs are variable and can be reduced quickly if your investment is not giving you the best rate of return.
Step 10. Be bold.
Step 11. Do not fear to take calculated risks.
Step 12. Be prepared to cut your losses and admit you’ve made a mistake.
Step 13. Learn quickly from the mistakes and immediately try again.
Step 14. Keep pushing forward.
Step 15. Constantly build resources so you can take advantage of the many opportunities that will be occurring as the marketplace changes rapidly.

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Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.