See below how this can create income in Ecuador. Hand dyed, all natural yarn ready for beautiful sweaters.
We must take care because before we really see the international economic light, I expect one more downturn this autumn… one that will break the economic backs of many who have been just barely hanging on.
Markets and economies rise and fall in spurts and provide large influxes of profit that create really bad fiscal and lifestyle habits that are destructive when dangerous economic ex-spurts (recessions) come long. See more about this here
The first dangerous time is when markets rise so much for so long that the general population becomes convinced that “the good life’ will last forever. Then the second dangerous times comes in the form of a market crash.
The crash destroys many lives and finances. Then after a year or so the markets rally on news of an economic recovery. There is a fairly decent broad pickup, led by the consumers, government stimulation, tax cuts and low interest-rates. This is a knee-jerk stock market reaction, at the first sign of a healthy economy. The stock market kicks up 10% at minimum, 30% at best. These rallies are not based on reality though. They are usually short lived.
This short term bear rally spurt is followed by another severe ex-spurt (bear market) which we should expect now.
Here are some tips to help survive such dangerous times:
First recognize that tight economies are best for making money. For example Marc Andreessen co founder of Netscape started Loudcloud, an Internet infrastructure company in a terrible recession because there was less competition, easier access to good labor. Both businesses and employees are more realistic in tough times.
Tough times can be good because they force us to do what we should already have been doing. Human nature being what it is, we get fat when the times turn easy and seem good. Here are a few tips we should always heed, but sometimes can survive ignoring when economies boom. If we ignore them now, it is at our peril.
#1: Look for every way you can to trim expenses.
#2: Do not be inflexible or proud. Not long ago a seminar delegate told me about a friend who had risen from a zero net worth to having an Internet portfolio worth $300 million. “Then,” the delegate said, “he lost it all when the bubble burst. He went right back to where he started.” That was not quite right. That investor did not go back to where he started. He most likely acquired bad habits when he thought he was worth $300 million! Unless he shed these habits when he went broke they will make it harder for him to succeed again! In good times, we may think we deserve a certain way of life or that some things are inalienable rights. Really our only economic right it to spend a little less (maybe 90%) than we earn.
#3: Always save. No matter how tough the times, always try to save at least 10% of your income. Those who do this almost never run into economic trouble.
#4: Look harder for the silver lining. There are more in bad times than good. An old British saying is “where there is muck there is brass.” Business is solving problems and difficult times create problems. Look for ways that you (or your investments) can help others squeeze through tight times.
#5: Be positive. One of the greatest risks in recession is a can’t win attitude. If the economy falls drastically (say 30%), you still only have to be in the top 70% to get by. The entire history of modern humanity has been one of long term growth chopped by short term recessions. Current conditions are nothing new.
#6: Remain true to your economic plan. Use three phase investing as described many times in our messages. Do not panic and stick by your investments (assuming they were made intelligently to begin). This will increase your odds of success and help you with step seven.
#7: Maintain perspective. A USA Today article “American Workers Rethink Priorities” pointed out that many workers are taking time to rethink their grueling schedules or about pursuing work that might pay less but is more meaningful. We live in the richest, most incredible era that mankind has ever known. Our poorest have more than the richest of just centuries ago. Yet this can be hard to remember when caught in the day-to-day rush of the material rat race. Inspired investing is doing what we love and figuring out how to make money from it. We increase our odds of success and enjoy what we are doing more. When times are tough and the economy slows, this perspective can give us time to sit back for at least a few moments and ask, “What do I really want to do with the rest of my life?”
The answer is the most important asset you will ever receive.
Until next message, good global business and investing!
The greatest asset of all is the ability to earn wherever you live, which brings everlasting wealth.
This is why we offer our course Tangled Web… How to Have an Internet Business.
This is why I am giving everyone who enrolls in our North Carolina or November Ecuador International Business & Investing seminar our “Tangled Web… How to Have an Internet Business Course” (offered at $299) free.
Here are comments from a reader about the way we help: Thank you for your inspiration and information outlining foreign banking and retirement. Your comments and suggestions are welcome for planning the steps to evaluate the early stages of living abroad.
Join us with Jyske. Learn more about global investing, how to have an international business and diversification in Ecuador at the seminar.
October 16-18 Ecuador Southern coastal tour Only One Place Left
Oct. 21-24 Ecuador Import Export Tour
Oct. 25-26 Imbabura Real Estate Tour
On the Ecuador Import Export Tour we visit Winter House, a boutique wool factory.
They make wonderful organic cotton and wool prodcuts with all natural dyes.
Their sweaters are very colorful and they’ll sell just one but also ship entire loads to retialers in the US and Canada. You can create basics or have them put together your own design.
Nov. 6-8 IBEZ Ecuador Seminar
Nov. 9-10 Imbabura Real Estate Tour
Nov. 11-14 Ecuador Coastal Real Estate Tour
Attend any two Ecuador seminar or tours in a calendar month…$949 for one. $1,349 for two.
Attend any three Ecuador courses or tours in a calendar month…$1,199 for one. $1,799