PREPARING FOR THE COMING DEPRESSION

Michel de Nostradamus, in 1568 predicted the coming of the Third Anti-Christ in July 1999. On the eve of the new millennium thousands awaited the end of the world.

The fact is that for centuries, many people have predicted that the world would change dramatically around the year 2000.

After the World Trade Center event, I believe the question most of us should really be asking is how do people predict the future?

Two of my favorite authors are James Dale Davidson and Lord William Rees-Mogg. They are highly respected economic historians. Long before the first World Trade Center bombing in 1993, they were talking about terrorist attacks in America. In their book The Great Reckoning, they are predicting worldwide depression and how we should all prepare for it. Even if you do not believe in people being able to predict the future, I do believe you owe it to yourself, to get that book and read it. I think it will open your eyes and maybe get you on the right track, the track of doing well, regardless if their predictions are right or way off base. The real question is, if a depression does come, are you prepared for it?

How will you do if there is a depression? Will you and your loved one do well or will you go down with the millions of people who are not prepared.

Now, I am not saying that a depression is coming. The point of this article is that after reading their books, my wife Kim and I used their words of warning and began preparing for the coming economy, good or bad. At first their words of depression frightened us, but if you recall my first bulletin, I stated that the future is seen through the bad news, not the good news. Because of these author’s warnings, we used our fear to get stronger rather than run in fear or pooh-pooh their words of caution. Kim and I have been in preparation for over 8 years now. It has been one of the best financial decisions of our lives. Their words of warning caused us to become even more diligent and better educated. The reason I write these articles and pose such questions is to have you ask yourself, how will you do if there is a depression? Will you and your loved one do well or will you go down with the millions of people who are not prepared, if there is a depression?

The following are 5 points via which you can gauge your preparedness. They are:

1. Do you have enough in savings to cover two years worth of expenses?

2. Do you have gold coins, equivalent to six months living expenses in a safe deposit box? The coins are a hedge just in case the currency of the U.S. begins to greatly devalue.

3. How are you debt to equity ratios? For example, if your house is worth $100,000 a 1:1 debt to equity ratio would mean you $50,000 in equity in the house and a $50,000 mortgage.

4. Is your business or the company you work for going to do well in a depression? If not, start a part time business. Our businesses are designed to do well in a good economy and do even better in a depression. A part-time business that will do well in a down economy is a network marketing business. During a depression, many more people will be very receptive to joining a network marketing company.

5. Do you have the technical skills to be an investor? Do you know how to buy real estate, stock
options, and grow a business? Do you also have the financial resources or financial backers that will provide the money to begin investing when stocks, real estate, and businesses are available for bargain prices?

The main point is this. Even if a depression does not occur, to be this prepared is a sound way to manage your life and your investments. After reading The Great Reckoning, Kim and I began to put our personal and business finances in order. Because of this, we have done very well when the economy was good and are prepared to do well in a bad economy.

You see, it does not really matter if Nostradamus was right or if the prediction of a depression comes true. The real question is how prepared are you for whatever happens, and that is what matters most.

I realize that for some of you, these five points may seem like a tall order, yet I assure you it can be done with a little planning, dedication, and education. If you are ready to improve your education and be better able to implement all five points in your life, then you may want to attend our 3 Day in Phoenix. For those of you already attending, congratulations. You will leave the 3 Day better prepared to meet the challenges of the coming years, which are predicted to be financially tough ones. You see it does not really matter if Nostradamus was right or if the prediction of a depression comes true. The real question is how prepared are you for whatever happens, and that is what matters most.

The good news is that when times become tough, you have the opportunity to bring out of you the person that is strong and resilient. I am confident that inside each and every one of us, is a person capable of meeting any challenge that life puts in front of us. My rich dad often reminded me that in such times of uncertainty, the greatness in people shines through. In the next few years, look forward to the challenges and let the greatness inside of you come through.

The future is very bright for those that are prepared for it. We at Richdad.com and Red Rock Events wish you the brightest of financial future, regardless which way the future goes.

All the best,

Robert Kiyosaki

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Stephan Bourget, Consultant
Do you wanna be an Architect of the Future?
Direct Phone # 418-664-0785
http://www.mynewsuccess.com/

PS Here's a a book you may like...