Doomsday Investing
May 28, 2012 1 Comment
The world economy is far from the pink of health,but I don’t think that the end of the world ,as we know it, is upon us.However I do believe in having a wealth pyramid in place.If your are coming in late,you can read more about it in an older post here: https://wealthymatters.com/2011/09/30/wealth-pyramid/#more-1948.And the time for building an ark is long before the deluge…..
The wealthiest in the world have the most to lose in a crisis.They also often care the most about not losing it all.Moreover they have the money and the contacts to put in place the most elaborate fall back plans.The following are some actions that wealthy people in different parts of the world seem to be taking to limit the damage to their fortunes.( http://www.reuters.com/article/2011/10/04/us-wealth-summit-investment-idUSTRE7933LS20111004) Why not be influenced a little bit by them?Especially with a little part of the funds lying at the bottom of the pyramid?The worst that could happen is that nothing happens and we feel foolish.On the other hand if we wait till there is blood on the streets,it might be too late to do anything much. Read more of this post
1. Figure out what you’re so passionate about that you’d be happy doing it for 10 years, even if you never made any money from it. That’s what you should be doing.
Many Indians who haven’t been abroad,tend to multiply foreign salaries by the exchange rate, compare them with Indian ones and get suckered into various job offers.However,what is rich and what is wealthy is really relative.It depends on where in the world a person comes from and exactly how well off or not so well off the person might be in his/her own society.
Here is a quiz put together by Robert Frank to help you decide just how transient your wealth may be.Just answer the questions below honestly and tally up your score and read the result from the list at the bottom of the post.
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