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Bitcoin/Ethereum: http://bit.ly/2wPRudj
Binance (For Monero or other altcoins): https://www.binance.com/?ref=11135819
Gold & Silver: https://www.providentmetals.com/ and https://www.jmbullion.com/
Both Provident Metals and JM Bullion give discounts when buying with Bitcoin.
This week’s episode of Sovereign Financials goes over 6 steps to take to prepare for the next market crash whether it be a crash in the housing market, stock market crash, bond market crash or overall economic collapse.
Step 1: Job Security
It will be important to renew your contracts with your employer if you have a contract prior to any economic downturn. It’s also very important to keep your productivity high and be a real asset to your employer as this may help prevent yourself from being laid off if your employer needs to cut hours down.
Step 2: Keep your Debt Low
Debt becomes very burdensom during a market crash as there is less credit and less money flowing around. If you have high amounts of debt these can cause you to become bankrupt or at least put yourself under a lot of financial strain. Try to pay debts off and don’t obtain new debt at this time.
Step 3: Keep Cash on Hand
This will allow you to keep making debt payments if your pay gets cut. It will also allow you to take advantage of a depressed economy and buy up all assets including housing, stocks, bonds and other assets pretty cheap.
Step 4: Take Profits
The 2010-2018 bull run has been amazing. There is usually an economic downturn every 7-9 years and we are due for one. Take profits on some of the investments that you have made. This will give you extra spending power when the next market crash happens.
Step 5: Don’t make major real estate or other investments at this time. You could end up underwater on a mortgage like the 2008 housing bubble and in general you don’t want to make large stock or bond investments at the top of an economic bubble
Step 6: Have a 10% Market Hedge
Keep 5% of your net worth in physical Gold and Silver
Gold & Silver: https://www.providentmetals.com/ and https://www.jmbullion.com/
Keep 5% of your net worth in Bitcoin, Ethereum and maybe Monero. Cryptocurrencies are probably the way we will be paying for things and storing a part of our wealth within in the future.
Buy Bitcoin/Ethereum: http://bit.ly/2wPRudj
Binance (For Monero or other altcoins): https://www.binance.com/?ref=11135819
Step 7: Educate yourself
Keep reading books on personal finance and economics. The more you know the better you can cope with any situation.
Visit us on Facebook: https://www.facebook.com/sovereignfinancials/
Buy Bitcoin: http://bit.ly/2wPRudj (You get $10 of free bitcoin upon buying $100 worth, we also get $10).
Recommended Books:
https://amzn.to/2N5uZve – Becoming an Millionaire
https://amzn.to/2PY8OWo – Investing Intelligently
https://amzn.to/2PpLzDq – Real Estate Investing (Rentals)
Disclaimer: As always these are just our opinions and this video and its comments are for entertainment purposes only and they do not constitute any type of legal, tax or financial advice. Always consult a qualified financial planner, investment advisor, CPA and/or attorney before making any monetary, investment or legal decisions. I take no responsbility neither expressed nor implied for any action that you take with my opinions as expressed in this video.
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