Bad times are absolutely the best times to make money. While the world heads into a possible recession and everyone is saying to play it safe, save whatever you have, spend less, eat less and lots of other "advice", the smarter people know that the bad times are absolute golden times to start spending more instead! I'll give you 3 reasons why in this article.
1. When times are bad, everything is cheaper. In fact, when times are very bad, things are rock bottom cheap. Take advantage of this and start investing! There is a difference between trading and investing. When you trade, you're hoping to get quick gains over a short period of time - the problem with that is you can also make quick losses over a short period of time. Investing, however, is knowing the best times to spend and the best times to spend some more.
2. History has shown us that during recessions, more millionaires and billionaires emerge because they assessed the situation and made a decision to take advantage of it. It all just follows the basic concepts of supply and demand. When times are bad, the supply is as usual but the demand is very low, so prices will fall.
3. However, history has also showed us that fear is the one thing that stops us from making the decisions that we know can ultimately benefit us. We always want to "make sure" and be certain. There's nothing wrong with that but taking too long to think about it will only lead to analysis paralysis - and by the time we realize that we want to take action and do something, the opportunity has already slipped past.
There's a saying that "Opportunity only knocks once", I'd like to say that opportunity is always knocking, question is whether you are open to it.
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