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Allow Yourself to Succeed in This Recession

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I would like to briefly talk to you about opportunity. Many people fail to see opportunity before them – either because they claim they are too busy or because they just are not looking in the right place. Or maybe it’s because they have immersed themselves in life: from their job to their children, there really isn’t much time for anything else. 

Oftentimes, people miss opportunities before them because of these reasons – or should I say, excuses.

A great opportunity lies ahead of us over the next few years. Those who have prepared have already reaped the benefits and will continue to do so. There are people out there profiting off of this recession. There are people who have used this recession as their opportunity.

I would like to share a quote with you to further explain what I mean: “Success always comes when preparation meets opportunity.” Most often attributed to a Mr. Henry Hartman, on whom I was unable to find information, this quote resonated deeply with me since I first heard it.

Instead of looking at the recession as a bad thing, look at it as an opportunity to accumulate wealth. Look at it as a stepping stone for your retirement goals. Look at it as a chance to start a business. Look at it as a chance to prepare.

As Robert Kiyosaki, entrepreneur and author of Rich Dad Poor Dad, has said: “This crisis is the biggest opportunity in the history of the world.” This statement could not be more true. It just depends on how you look at life.

I firmly believe that, in America, anything is possible. I believe people come here looking for a better life. Whether rich, middle class, or poor, there is always a chance for you. While we may not all start off in the same position in the marathon of life, there are always opportunities for us to cross the finish line together. Don’t let fear or self-doubt stand in your way.

So what can you do to start? Here are a few suggestions:

1. Get your financial education, as Kiyosaki always says. (And yes, there is ALWAYS time. It just depends on what you want to spend your time doing).

2. Read magazines and newspapers like Forbes, Money and The Wall Street Journal. Watch channels like Fox Business and CNBC. CNBC is a great place to learn about money and entrepreneurship. 

3. Read as many books as you can. My suggestions to get you started are: Rich Dad Poor Dad by Kiyosaki, The Lexus and the Olive Tree by Thomas L. Friedman, and The 4-Hour Work Week by Timothy Ferriss.

4. Don’t ever stop being a student. Take classes and attend seminars on finance, economics, and investing.

5. Learn about handling your personal finances.

6. Get out of bad debt as quickly as possible – particularly credit card debt. 

7. Save money and invest in things like real estate – so your money doesn’t lose value. There are many opportunities for novice investors out there as property values continue to decline. Do your due diligence. (You may even have a chance to help somebody in foreclosure by assuming their mortgage).

I have implemented, or am in the process of implementing, all of these strategies. They are all things I have read about or learned about over the past few years. I would not recommend them if I didn’t think they would work. Some things may not work for you. That’s fine. The point is to try things and learn things that will make life better for you and your family.

Here’s to your success this year and in years to come.

I’ll see you at the finish line.

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About TheRefoundingFather

  • Jordan Richardson

    So spending time with children is an “excuse” to the greater goal of, in your words, “accumulating wealth?”

    While this is a very general article, Father, I can’t help but wonder who your audience is here.

    You talk about “crossing the finish line” together, too. I find this particularly interesting because, again to use your sentiments, “opportunity” means the fine art of “accumulating wealth.”

    What, then, is the finish line? And what is the ultimate reward for accumulating wealth, especially if it’s done at the expense of not having “excuses” like children or family or jobs getting in the way?

  • Arch Conservative

    Wow…this article could have been summed up in one sentence.

    “If you don’t want to go down the tubes financially, don’t be an idiot.”

    But not even the great “therefoundingfather” can save America from it’s idiot problem. Much too little, way too late.

    Thanks for nothing.

  • http://therefoundingfather.blogspot.com/ The Refounding Father

    Jordan,

    Thanks for twisting my words to support your attack.

    If someone wanted to start a business at home, they could hire a babysitter or have their parents babysit. If they have a job, they can start a business or invest on weekends. Start the business part-time.

    By excuse, I meant people use those reasons as excuses for NOT doing something…when they could find a way if they wanted to. Besides, those who want to get rich and accumulate wealth do so in their spare time.

    Does it have to be wealth accumulation? Of course not. It could be the financial freedom to spend more time with family and friends. It could be the ability to have a steady stream of passive income coming in.

    And, hey, if you don’t like the article…don’t read it. For people that care, it’s good advice though.

  • http://jeanniedanna.wordpress.com/ Jeannie Danna

    Yes, remain teachable Senator…

  • drive by

    While we may not all start off in the same position in the marathon of life, there are always opportunities for us to cross the finish line together.

    propagandistic nonsense

  • http://thingsalongtheway.blogspot.com/ Cindy

    It’s all in your attitude. If you people would just stop making excuses, there wouldn’t even be a recession.

    Ignore your children and your family; become a workaholic. Please step up and get your lottery ticket to happiness.

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    All:

    You can attack me and my articles all you want. Go ahead. Make up silly names and keep writing ridiculous comments.

    Soon enough, you will realize how the majority of this country has changed though. That goes for liberals, conservatives…left and right…democrats and republicans.

    Furthermore, instead of spending your time acting like children…maybe you could learn a little about economics and personal finances. Instead of attacking me…go learn something.

    For now, stop showing your ignorance. It’s getting pathetic and you’re embarrassing yourselves…not me.

    – THE REFOUNDING FATHER

    PS: Jeannie, if you believe that all conservatives are part of a right-wing militia group…you’re really off your rocker.

  • http://jeanniedanna.wordpress.com/ Jeannie Danna

    Not all of you…

  • STM

    Chill out father. There are fates far worse.

    No one at all coming here is infinitely worse than a few people giving you a bit of a razz up on your threads. To be honest, I was surprised you didn’t join in.

    It’s a bit like Australia: having a nickname, no matter how bad (and mine is), means you’re part of the team.

    Not having one means no one gives a rat’s.

    Plus, if, as has been sugested here, your chosen field is politics, you’ll encounter far worse.

    Having worked in that field myself, I can tell that is the case without a shadow of a doubt.

    I have seen men humiliated publicly, belittled, shredded to pieces on the floor of parliament, flayed, skinned and their carcasses hung up to dry.

    Then they came back the next day and went through it all again … time after time until eventually, it was their turn to bat.

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    Though I think capitalizing your nickname is not the best way to get your message across.

  • http://ruvysroost.blogspot.com Ruvy

    You know, “refounding farter” , doing all the things you recommend in this article are the things you do when times are good, and you have the spare money (and maybe time) to invest in an education. It’s not bad advice. I did it all years ago when I lived in the States.

    And all that I learned has stood me in good stead here in Israel, where I have had to stretch one shekel five ways, and where there were weeks when I didn’t know if we would still have a roof over our head, when the electricity or phone service was cut off for non-payment of bills, etc., etc.

    The problem you Americans are having is this. Financial planning when your dollar is about to go down the drain is – well, a waste of time.

    This article alleges that the federal government of your country is covering up a coming food shortage with lies. You can believe it if you wish to – or not. It’s no skin off my back. I don’t live in America and I will not starve. But these words are telling:

    Survival experts also note that one of the real risks of the current crisis is that consumers have become dependent on just-in-time delivery systems and retail stores that are hundreds or thousands of miles from food sources.

    Stores have only an average of 72 hours of inventory on hand and very few families are capable of producing their own food, so even a temporary shortage of food supplies could be catastrophic.

    Previous generations lived much closer to the food supply or grew their own vegetables and could therefore weather problems in the food distribution chain.

    Heid explains why so many people now are focused on food independence and not just financial planning in the event of a collapse.

    “In a real crisis, food will be more valuable than gold or silver. When you’re hungry, gold or silver coins won’t always help you, and the few people who have food may not be willing to trade for something which can’t be easily converted. Open pollinated seeds are truly the ultimate barter item in a meltdown. It seems like folks are waking up to reality of some very dangerous market conditions ahead.”

    Have a great day refounding!

  • STM

    I do think it’s hilarious though that the social-democrat society down under has had the best performing economy of all the developed western nations during the global financial crisis.

    We never even went into recession.

    Can’t be all bad.

    I’m a firm believer in responsible prudential regulation.

    Governments should regulate, regulate, regulate, to stop the cowboys dragging the world down again simply to line their own pockets.

    Free-market capitalism is great, but selling snake oil ain’t.

  • STM

    The father: “Go ahead. Make up silly names…”

    You started it :)

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    STM,

    I appreciate the encouragement.

    I have come to enjoy politics, economics, finance, entrepreneurship, and real estate over the passed few years. They are things I enjoy learning about and writing about.

    All I try to do is help guide people who may want to learn. I don’t pretend to be an expert. I’m still learning about it myself.

    The two articles I’ve written for Blog Critics so far were submitted to give people a different take. I was trying to get people to think a little differently or at least read about a different point of view.

    Sure, some may not agree and that’s OK by me. I like to learn about all points of view.

    I certainly didn’t expect all of this. However, I do appreciate you guys keeping me in the top spot in “Comments” over the passed few days…ha.

    Again, thanks. And trust me, I’m not going anywhere.

    -THE REFOUNDING FATHER

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    Ruvy,

    Yeah, I’ve heard about that too. In terms of seeds being more valuable than gold or silver, is it possible? Sure. Do I think we will get to that point…where people are bartering with seeds? No, personally, I do not.

    I’ve always believed in brick and mortar. If the dollar continues to tank, I don’t think the best place is something like gold or silver. I believe the best place is real estate. People will always need a place to live and land will always have value.

    Taking your seed article a bit further, people will need land to plant those seeds too, right?

    What does everybody else think?

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    Ruvy, #11,

    You misspoke: it should read “have a great day rebounding.”

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    STM,

    I thought Australia had bailouts too?

    Per this article you seemed to have a bit of a recession too as of 2008 and your gov’t was considering a 2nd bailout.

    Did that ever happen?

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    “I like to learn about all points of view.”

    You’ve hardly evidenced any learning attitude by referring to those you vehemently disagree with, myself included, as “liberal swine.”

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    Roger,

    Not a fan of the caps? I thought it looked better. If anything, it matched the heading on my blog. Haha.

    I’d be more than happy to change it back if it would make you feel better.

    -THE REFOUNDING FATHER

    PS: Conservatives are “rebounding.” You’re absolutely right.

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    Roger,

    I wasn’t referring to all liberals…just you. Haha.

  • http://jeanniedanna.wordpress.com/ Jeannie Danna

    Yes, chill out.

    I had the same feeling when I first started writing here, Senator.
    Everyone told me…”Thicken your skin.”

    :)

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    Why thank you, Jeannie.

  • http://jeanniedanna.wordpress.com/ Jeannie Danna

    I do wish you would bridge the gaps between who you are here, the TRF blog and your Senate page…you would be so much more genuine!

  • http://thingsalongtheway.blogspot.com/ Cindy

    The caps make you look insecure. It’s like wearing a pair of gym socks in your bathing suit.

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    I’m not even a liberal, Rebounding. If you really knew what my views were, you’d be shitting in your pants. See, I wanted to spare you.

  • http://jeanniedanna.wordpress.com/ Jeannie Danna

    Italics would look classier :)

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    I don’t care how you promote yourself. Just thought that emphasis would be more effective when applied to coherence and clarity of your message. Underlining or capitalizing doesn’t impress me.

    But then again, I have no idea how stupid your constituents really are.

    A word of advice, however. You shouldn’t refer to anyone in your district in such terms even if you disagree with them. It still comes with the office, I believe, to be a representative of all. Unless the state constitution has changed.

  • http://thingsalongtheway.blogspot.com/ Cindy

    What constituents? You guys/gals are joking, right? No one could have possibly elected this guy for milk monitor.

  • Jordan Richardson

    Father,

    Apparently you aren’t familiar with the idea of discourse at an internet website such as these. Perhaps it is the lack of comments from readers on your own blog that leads you to believe that the idea of discussion is a bad thing or that someone’s disagreement with basic tenets of your articles constitutes an “attack.”

    That is unfortunate, sir, but life goes on.

    Does it have to be wealth accumulation? Of course not.

    Of course not? But that’s the subject of your article. Hence my questions, Father.

    If someone wanted to start a business at home, they could hire a babysitter or have their parents babysit. If they have a job, they can start a business or invest on weekends. Start the business part-time.

    All good, relevant, general tips, Father. I have no objections to this, but this isn’t the premise as set forth in your article. You state, in the opening paragraph, that people “fail to see opportunity” because of a variety of obstacles/excuses.

    Then you equate, again, “opportunity” with the accumulation of wealth. That’s it. That’s your article. Even Arch, a guy who I normally disagree with about damn near everything from politics to pizza toppings, spots this.

    And, hey, if you don’t like the article…don’t read it. For people that care, it’s good advice though.

    Father, you are at a website called Blogcritics. You are exposing your work to a broad audience and subjecting it and your ideas to criticism. I step out of the box with every single comment, music review and other article I attempt here. It comes with the territory and you need to understand that simple reality.

    You also need to understand my interaction with you or your article does not constitute any sort of opinion of you or your article. Truth is that I did not like your article because I found it very vague, general and pointless. I do not agree that you offer “good tips” because your “advice” is so general.

    Now there’s my two or three cents. And hell, if you don’t like this comment…don’t read it?

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    Check out Jeannie’s link, Cindy. He is a State Senator, his first term.

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    “And, hey, if you don’t like the article …don’t read it.”

    I should think you don’t really mean it. Not if your object is to unite rather than divide.

    I’m certain that in each and every case, everyone who writes for BC, the pains they take to submit their article, the overall intent is to reach accord, not disagreement.

    True, some pieces are controversial, because we all wish to challenge the readers and see our point of view, but that doesn’t detract from the underlying intent – to win people over rather than to estrange them. So I am certain that’s your intent as well.

    It’s precisely for this reason that your comment (see the quote above) doesn’t really do you justice.

    You do care, you believe in what you’re saying. You want others to see your point of view. So let’s stop beating around the bush and pretend it doesn’t matter.

    It does matter, and greatly. You wouldn’t have bothered otherwise.

  • http://thingsalongtheway.blogspot.com/ Cindy

    Ah, I see, I had gone to Jeannie’s link and I didn’t understand it. Perhaps it is a coincidence? Isn’t there at least some need to give the appearance of er…sophistication of argument to become a senator?

    Thinks about GWB having been president. Decides…nope…guess I’m wrong.

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    No, it takes very little sophistication these days – to become a president or state senator.

    It’s the age of teabaggers.

  • Arch Conservative

    Father, your intentions were well meaning but if you have to tell an adult something as simple as “hey maybe you should look into ways to better handle your finances” because the thought had never occurred to them before, then they’re probably beyone help.

    Like I said, there are two many idiots in America today. Dancing with the stars avergae 21 million viewers and the WEE wrestling shows avergae around 4 million viewers. I checked the US population clock earlier and we’re at 308 million so between those two shows alone we have almost 10% of the nation that are brain dead morons.

    I’ve always considered myself morolly opposed to eugenics but another couple of TV reality shows with Paris Hilton and I might have to begin rethinking that opposition.

  • Arch Conservative

    I just love it when some refers to them as “teabaggers.” They’re standing up for the Constitution while those who disagree with the m are giggling like prepubescent little girls whilst saying “teabaggers” as often as possible.

    Would you have called George Washington a teabagger Roger?

  • http://drdreadful.blogspot.com Dr Dreadful

    Dancing with the stars avergae 21 million viewers and the WEE wrestling shows avergae around 4 million viewers. I checked the US population clock earlier and we’re at 308 million so between those two shows alone we have almost 10% of the nation that are brain dead morons.

    Arch, while there is some atrocious dreck on the goggle box these days, it takes a bit more than choice of TV viewing to classify someone as a moron. Would you really rather we were all glued to Newshour and C-SPAN 24/7?

    Assuming you don’t begrudge people some entertainment, at what point – if ever – do you suppose the balance of factual/news vs. light entertainment programming on American television was just about right?

  • Brian aka Guppusmaximus

    “Besides, those who want to get rich and accumulate wealth do so in their spare time.”

    Um…No. Those who want to get rich and accumulate wealth do it full-time. They put those endeavors before friends and family and usually wind up not really having either. Honestly, the secret is that you have to LOVE money.

    Those who made money off this recession,first off, had the money to lose and probably learned by losing a ton of cash in the past.

  • STM

    We did have bailouts, but nothing major. The real one was the guarantee to the banks on citizens’ savings.

    Everyone was given $950 last year, though, and there have been ibnfrastructure programs, and grants of up to $21,000 (about $US20,000 to people buying their first homes).

    So there’s been some largesse from the government, for sure. However, we have not gone into recession at any point and jobless figures are quite low compared to the rest of the developed world hit by this madness – around 6 per cent roughly.

    I guess the key issue for us is that the ground here is full of stuff that other people want: iron ore mostly, selling to China and Japan mainly.

    However, car manufacturers and other exporters have managed to continue exporting through this period, although the rise in the dollar to near parity with the US dollar cripples exporters (this is America’s problem too … the US dollar must come down if America is to regain its export markets, otherwise US manufacturers and growers are priced out).

    I DO agree with the bailouts in the US and Britain, though.

    As unpalataple as they are, they have certainly saved both countries from going under, and thus the world economy from going under since these two places control the flow of money through the world’s two main financial markets.

    Americans would be in all kinds of trouble right now if it weren’t for that, as would the British who per capita outlayed even more than the Americans.

    We have been lucky in that prudential regulation in this country has been a serious issue in the past, and thus we didn’t have the kind of madness happening here that was going on in Wall Street and the City of London.

    Those two places are the twin epicentre of the GFC … not Washington or Westminster, or anywhere else for that matter.

    I feel we have been lucky, but I also fear that if the financial market snake-oil salesmen lose sight of the notion that selling rubbish from carpetbags is no longer what drives real free-market capitalism, then we are all sunk.

    And the only way they can be reined in is through government regulation.

    They are even moving here to cap outrageous paypackets for senior corporate executives.

    I think that’s not a bad idea.

    How many harbourfront properties, yachts and ferraris does one person need anyway?

    If it’s done properly, it’s actually not a bad thing.

    It’s time for corporate governance to be truly answerable to shareholders in all aspects of what they do and how they do it.

    I find it odious that people heading up huge corporations have driven them into the ground through poor decision making, resulting in ordinary people losing jobs and life savings and investors losing their dough – and then those people walk off into the sunset with multi-million dollar bonuses.

    It’s disgusting, really.

    It’s the accumulation of wealth at everyone else’s expense, and goes against the grain of what places America, Australia, the UK, are really all about.

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    It’s a dissertation, Stan, not that you’re to be faulted. Some of us here on BC need a far more poignant language – a one liner or two, if you know what I mean. Anything beyond is incomprehensible.

    Good night, mate.

  • STM

    Rog, it’s an answer to the Refounding Father’s question a bit earlier in regard to the recession we – luckily – never had.

    Somehow, we’ve been spared …

    Cheers mate

  • Shikamaru Nara

    How the hell do you start a business and invest. When you’re barely making $500.00 a month? How the hell am I supposed to invest when I’m barely making $500.00 a month? Overall, I can’t even seem to come by a piece of garbage Minimum Wage Paying Service Industry Job at the moment. Being the hard-working and honest fellow that I do my best to be. One would think the damn Service sector would give me job. Since I’m as qualified as anyone else and have rightfully earned such. Piece of garbage Service Sector and their shitty piss-ant “Personality Tests”. I wish they would realize that these damn tests do nothing but, push out honest folk’s and hire not so honest folk’s………Worst part. The damn “On-Line Application’s” don’t lend themselve’s to personableness. Where a manager can get to know whether he/she likes you or not!

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    SN,

    If you’re as hard working as you claim to be, you will figure it out. Sure, the economy sucks right now.

    But, if you wanted to start a company, have you tried asking family or friends to back you? Do you have an idea you can pitch to venture capital firm? There are some venture capitalists or angel investors that only invest in what’s called “seed capital,” or the money to get a business started.

    You say you make $500 per month, well that’s more than $32…or the amount William Wrigley, Jr. had when he moved from Philadelphia to Chicago in 1891. All Wrigley did was build the Wrigley chewing gum empire.

    As for jobs, I’m not sure where you’re from, but the U.S. government has been hiring a lot. That’s a place you could look.

    I know it’s hard out there. But, just hang in there and keep working hard. It’s people like you that will help us get out of the recession and make us stronger because of your dedication.

    All the best,

    The Refounding Father

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    Good to hear from you, RF, after all this time. Hope you’re doing alright.

    I do concur however with SN’s appraisal of the public sector. It’s more a case of who you know than anything else, not to mention bureaucratic layers after layers.

    The personnel department of old is a passe.

  • http://ruvysroost.blogspot.com Ruvy

    Refounding “father”,

    I only have one question for you. Is your state government bankrupt yet?

    If not, get with the program and do what so many other American states are doing: go belly-up! Hey! you are guy who can actually do something like that. The opportunity is in your hands!

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    Roger,

    Thanks, I’ve been good. How about yourself?

    Sure, it’s a case of who you know a lot of times. But, that doesn’t mean you stop searching, does it? That doesn’t mean you don’t try and network and become somebody who knows people.

    I just think people sell themselves short some times. I’m not sitting here saying I’m perfect or anything. I’m not rich. I have made plenty of mistakes in my life.

    It’s just I believe, now more than ever, now is the time to think outside of the box. If somebody really wanted to start a business now, they could. A lot of businesses started in a recession…All State Insurance comes to mind.

    I think SN just needs a little encouragement. This recession is truly an opportunity in my honest opinion. Things will get worse before they get better. But, if people take the time to learn our history, learn about finances, learn about something that interests them…just keep going on.

    Chances are, SN, will not be making $500.00 per month the rest of his life. Not if he seeks out other opportunities and works his tail off. While he may fail many times, ultimately that’s what will help him succeed.

    I don’t know, maybe I’m too optimistic at times. I just believe in people.

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    Ruvy,

    My state is close to bankruptcy. I agree that states should go belly up. They should fail and not be bailed out. It’s not that I’m being cruel, it’s just many states in bankruptcy because of things like entitlement programs and union contracts.

    It’s bad out there…but letting these states, companies, banks, etc. fail will hopefully allow the system to correct itself ultimately. I doubt that it will happen as it should though.

  • http://takeitorleaveit.typepad.com/ roger nowosielski

    So do I, RF. Necessity is the mother of invention.

    BTW, I’m speaking person to person now, not as your ideological opponent. I hope you understand that much of what transpires as part of a spirited debate, especially online, is a kind of gamesmanship.

    But I do care for people, and so do you. Ultimately, that’s all that counts.

  • http://therefoundingfather.blogspot.com/ THE REFOUNDING FATHER

    Roger,

    Sure, I understand that. I guess I just hate the games…haha. But, it’s always fun and I always learn something.

    I realize we both care for people. And, really, that’s what matters at the end of the day.

  • http://underarmdeodorant.net Jessie

    I love Robert Kiyosaki. I met him once and he taught me a lots on financial freedom strategies… He is my super favourite mentor!