Financial Resilience

Financial resilience requires us to have multiple sources of income, or as financial advisers recommend, have enough savings to be able to retire if you have to.

I have a friend in Venezuela who is an attorney. Venezuela is in the grips of runaway inflation, she works with American Companies and gets paid in American dollars and keeps her money in American Banks.

People invest in real estate. My cousin sold his home in Hawaii and invested in commercial real estate in California. It was his retirement fund.

Personally, I think Internet Marketing has great potential. Start up costs are low and monthly overhead can be less than $500/month. Creative people can sell their own products or you can sell other peoples products. Selling other peoples products is called Affilaite Marketing. Amazon is the best example of an Affilaite Marketing Program, but many brick and mortar businesses are setting up affiliate programs.

Companies who didn’t have a website presence during the COVID-19 lock down took a massive hit while those companies who could provide no touch delivery did very well.

Local businesses don’t need a fancy website. They just need to have a consistent presence in all the business directories on the net. They need to manager their reputation by responding to all comments in social media. People look for service using their smart phones. If they don’t find you, you will be loosing business.

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