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At the weekend we had a Skype call with my parentsÂ
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Something that we’ve only really been doing since this whole sorry mess begunÂ
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Luckily my brother is with them during lockdown and is able to deal with the technology!Â
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During the call my mum - who looks after all the money stuff since dad was diagnosed with dementia a year or so ago - mentioned something I hadn’t really considered before ….
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That their investments - stocks shares and pensions - have basically dive bombed in value since lockdown began.
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We all know that we are now in what promises to be the worst recession since the infamous 30’sÂ
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Experts are already predicting that it’ll be at least a decade before any signs of recovery are seenÂ
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And that’s if we can ease out of lockdown reasonably soon.
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So mum asked me if I thought it would be better to cash in now before things get worse and they have to watch all those years of saving, investing and future proofing vanish into thin air
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Or just wait and see what happensÂ
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I wish I had the answer - but I don’tÂ
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Realistically they’ll probably be OK - the mortgage was paid off decades ago, they both have good pension incomes and savingsÂ
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They are n their 80’s so its realistically too late for them to start learning new skills - even if dad could
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But for the many people who are not in that situation - are nowhere near retirement and might be facing a very uncertain futureÂ
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The question is How long do you wait?
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To learn new skills
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To pivot into the only economy that’s thriving - the digital economy
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To start leveraging the power of online real estate, proven internet business models and a world where working from home and running online businesses is the normÂ
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Make no mistake, thousands of people are already looking at this. My Youtube subscriptions, enquiries, affiliate sales and website traffic are all going up steadilyÂ
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Thats because people are spending much more time online that ever before.
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Not only to communicate with loved ones and work colleaguesÂ
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Not only to buy goods and services that have closed their doorsÂ
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Not only to maintain social distancing and stay safeÂ
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But to educate their children and themselves and to look at new ways of working and earning income from home.
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My mentors, business partners and friends at SFM and DEA have really stepped up during all thisÂ
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By making access to their training, mentorship, business systems and affiliate partnershipsÂ
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Easier and more accessible than everÂ
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I discovered them when I was laid off during the last recession and had to learn how to pivot into a completely different way of making my livingÂ
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I had to make a tough choice back thenÂ
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Did I hang on to my dwindling savings and hope that something came along - unlikely as I was 47 and part of an industry decimated by cut backs, redundancies and austerity
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Or did I invest some of them in myselfÂ
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I chose the latter and I will be forever grateful that I did - never more so than right nowÂ
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So as the full extent of this global crisis continues to unfold (and we are only seeing tip of that iceberg right now)Â
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Its just common sense to start making smart plans right nowÂ
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Click here to watch Stuart Ross the multi millionaire co-founder of SFM and DEA - who knows a thing or two about pivoting out of a crisis Â
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Talk about how his organisation and community can provide you with absolutely everything you need to come out of this fully equipped to not only survive but thrive in the post Covid 19 world.
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Or wait and see what happens ……
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Bests as always