Harry Dent Jr. in 2013 shared how to increase income and take advantage of the trend:
-- Can't cure debt bubble by adding another debt
-- Understand the new technology
-- Entrepreneur welcome change
-- Economic changing, businesses start to fail
How to increase income?
economy have booms and bust
-- people get married, have kids, advancing in career, buying house
-- age 46 spend the most in lifetime
-- earning and spending at age 20
-- 26 gets married, forms households - retail stores shopping centers
-- 28 gets children -- everything about kids
-- 31 buy 1st home
-- 33 spend money on child care
-- 37 - 42 kids older, they want more space, people buy biggest house, jr high school
-- 46 spend the most money
-- 50 on automobiles
-- 54 travel the most, fix up kitchen
-- 58 life insurance
-- 68 health insurance -- continue to grow for decades
people learn, experience, innovate, adopt new trends, products and services
people generate their own businesses
retirement benefits becoming off
new businesses emerge
the aging people wants to be young, well, live longer life
create your own business, create multiple stream of income
-- internet-based,
-- franchise,
-- network marketing (easiest way to start business, own business, product proven)
not in denial of change, act on it.
network marketing
-- low start up cost
-- real business
-- product proven - demonstrate the result
-- how to apply to needs, be the consultant
-- go for people who are serious
-- support those people - train those people
-- invest in yourself and help people learn how they can invest in themselves
have 10 years plan or longer, strategies when the world goes upside-down
economics go down, some have their business boom
entrepreneurs go to work
forget about retirement, no one retire, if they can't work, most probably their families are taking care of their healthcare
keep a job if you have a good job, have multiple of income, build every way of cash and income, make money during this downturn.. after 2023 you can look back and see..
take your wealth, give your children enough to start their own business, fund an organisation
no regrets on deathbed
