Want to get rich this recession instead of just watching your portfolio crash? In this post, I will break down 3 things you can do to make your income recession proof.
With the stock market hitting an all time low, inflation hitting an all time high, and weird things happening in markets all around, I think it’s clear that we are heading towards a recession. But that doesn’t mean that you have to suffer or go financially broke — even if you lose your job!
To keep it simple, we will break it down into three sections: industries, side hustles, and investments. That way if the recession gets real bad, you will have some information on what you can do.
The last major recession happened in 2008. At the time, I was a sophomore in college and didn’t know what I was doing! I came home from the summer and what was going on in the world finally dawned on me. Some of my friends and family had lost their jobs and homes. It was the biggest crash since 1929.
That being said, the top 1% made saw opportunity in this time of struggle. Big name companies such as Pinterest, Airbnb, and Instagram were founded in 2008! Now, you don’t have to create the next biggest company to survive the recession. This is simply proof that incredible opportunities exist even when everything seems to be in chaos.
It seems odd, but there are actually industries that thrive during recessions! For example the pet industry, discounted retails, children’s goods, and of course, the alcohol industry! If you’re stuck in a dead end job and want to make sure you still have a job at the end of the recession, I highly recommend picking something up in one of these industries.
That being said, working for a company during a recession is one way to stay afloat but not a way to get rich. That’s why you need to learn about side hustles!
Affiliate marketing is my favorite side hustle that I make the most money from. I love it because I can promote any product on the internet and I don’t have to…