The current economic climate in the United States is rather bleak at the moment.
Small businesses are closing, states are issuing IOU's for taxes, and our politicians that we elected are not exactly sure how to fix this problem.
The question the most investors face currently is can they survive as investors? The answer without any question is yes.
If you go back and look through history, During all of the economic downturns that we have faced as a nation, we have had the few individuals that have risen above all in order to become multi-millionaires and in some cases, billionaires during hard times.
Can you do the same thing? Of course you can.
Also you need to do is return to the original patterns of the initial great investors in American history.
Research your target.
Researching your target investment, whether it be a real estate purchase of wiring a small company or stocks and bonds means just that.
Be responsible for your own destiny.
Research your potential investment.
In the case of real estate are you able to get it for a decent price.
Is the trend in that area, rising or dropping still? What are the outside factors that may influence the price increase? Is it near good schools? Is there a church nearby; are there local law enforcement/ fire station/hospital in the area? Do your due diligence and be aware of the outside factors that may increase or decrease the value of your investment.
Don't get emotional about your investments.
Investments should be non-emotional events.
The non-emotional event means you're looking at the bottom-line.
Now in the event of real estate foreclosure, where you are picking up someone else's home that is facing foreclosure, that doesn't mean the you have to be in unemotional robot.
Be aware that this is someone's home, someone's dream, the place where they raised their children.
Keep in mind that real estate more often than not, becomes an emotional battle on one side or the other.
Especially in the case of foreclosures.
Stocks, bonds, picking up notes, etc.
these are all non-emotional-based decisions.
It's strictly a numbers game.
Keep it as such.
The economic outlook and future projections of an investment.
Currently we're hearing from all of our politicians and leaders in Congress, the Senate and even the White House about the fact that our potential economic situation could get worse in the upcoming years.
Should this concern you? Of course it should.
Should it cause you to stop investing at this point?Absolutly not! What it should cost to you to be more cautious.
Do your research.
Do your homework.
Accept the fact that you will make or break your investment portfolio.
It doesn't matter if you have a fleet of advisors with you; the end result is completely in your hands.
Let's remember one simple thing.
Your investments are just that, they are your investments.
Take responsibility for the successes and failures of your portfolio.
Now is definitely not the time to pass the buck.