I have a confession to make.
Although I claim to be an optimistic person, I'm a nervous nelly when it comes to money. Like most people, I don't like to lose my hard-earned dough. The great recession was more than a decade ago, and I still cringe when I think about it. I clearly remember that day in 2008 when my 401K became a 201K. However, the good news is, now I can say that I almost have a 601K!
Things are good in the stock market right now. I'm feeling good, and I think most Americans are delighted with how their investment portfolios are performing.
When the economy is going well, most people are not thinking about planning for the future. However, some folks are investing in part-time franchise business options that will most likely do well, even in a down economy. For the past year or so, I have placed people in Executive Model businesses where owners can keep their jobs. It's like a plan "B" for them. According to the franchise magazine 1851, a franchise is sold every seven minutes in America. People are choosing business ownership more now than ever because franchising has evolved to previously unseen levels due to private equity injections.
As an optimistic person, I don't want to bring up a negative idea, but I have to be realistic. This bull market will not last forever. Bull markets never do. The markets always operate in cycles, and the bad times or bear markets don't last long either. However, I don't smoke Hopium and hope that the current up-market will last forever. I am a prepper when it comes to money.
With the market doing well, now is the time to invest in yourself because that is the only thing you can control. My advice is to invest in a low investment, high margin business with limited staff, that is, Amazon and pandemic proof and recession resilient. The goal is to look at manager-run concepts, so you don't have to stop what you are doing today. It's a great way to build wealth or at least a safety net and a nest egg. If you're interested in what I'm seeing in the franchise industry, just book a quick, 15-minute appointment with me. There's no obligation to buy anything or work with me. If you know me, you know there is no pressure here at The Franchise Academy because I understand franchising is not for everyone. Book now: www.GetWithTom.com.
This investment strategy is not for everyone. However, if you're invested in the stock market and have made money over the past five years, it may be prudent to invest in a solid, well-performing franchise now. Play with house's money, so to speak.
I was born the last year for baby boomers, 1964. In my lifetime, there have been seven recessions and eleven market corrections. Unfortunately, we are due for another correction. It could happen this week or two years from now. Who knows? But it will happen. Will you be surprised when it does?
While the sun is shining and you have money to spare, wouldn't it be wise to think about diversification strategies and get some money out of the market and invest in something you have direct control over? Hey, do you realize that in the time it took to read this article, another franchise was sold to someone protecting their family's future? Are you next? The clock is ticking.
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