For years I have been advocating and promoting the idea of a diversified income base for the financial security. Some took my advice; others asked why chase after money – afterall, their job or business provided enough for day-to-day living expenses with surplus for other luxuries. Under current economic conditions, those that didn’t will probably wished they have listened and acted on my advice.
Friends, I would say, it’s not too late. Business and economic experts are saying that we are still in the early stages of a downturn; and MNCs will likely to feel the effects on this melt-down in 6 to 8 months. That means you have approximately that amount of lead time to create another income source in case your current base evaporates. But, if you happen to one of those early victims of this current crisis, I am afraid you just have to move more quickly than the others.
All indications suggest that this downturn will be severe; and, we’re in for a long haul. Be prepared and keep your fingers cross – and ride out this turmoil.
In the meantime, may you & your families have a Merry X’mas and a Happy, Healthy and Successful New Year!
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