Get Rich Geek

How to Build Wealth Fast in a Slow Economy

By Shayne Hall

Although rarely discussed in the media, there are good investments in this contracting economy. There are always going to be places to invest and make a solid return on your investment in any cycle of the economy. There is no doubt that there are people in trouble right now. We have, of course, all heard plenty in the news about layoffs and un-employment numbers, bailouts, foreclosures, and record losses in the stock market. So where are the good investments, you ask? Here’s a hint: think things people need or perceive that they need. You only need to look at the recent sales figures for cosmetics and alcoholic beverages to see that some businesses thrive in difficult times. Also, consider investing in companies that help you save money on food, transportation, energy, or entertainment in some way because people are looking for ways make a dollar go farther buying things they have to have, or perceive that they need.

But before you go putting all your money into the above investments, I want to make the point that, while you may profit by investing in those areas today, it would have been better had you invested there 12 to 24 months ago. That way, you could have taken advantage of selling your other investments at a high point, taking profits on those sales, and re-investing into these other recession-proof businesses.

So where does that leave you? Well, what “good buys” can you find right now (investments that are undervalued and on the market at deep discounts)? Think about foreclosures, mid-price rental properties, section 8 rental properties, and stocks that have taken a hit of 50% or more, but were once leaders in their sector. These are the type of investments you should be seriously considering, because these bargain-priced investments have great upside potential.

In my next article, I’m going to examine another method of building wealth in this troubled economy. One path that may be the solution for those people that have little money to invest…a home-based business.

Shayne Hall is an entrepreneur, sales, marketing, and financial services professional living in Lafayette, Louisiana. You can read about him at http://www.shaynehall.com

Shayne is also a Branch Manager with United First Financial, empowering people to take full control of their financial life and win the money game. Learn more at http://www.gpstozerodebt.com

Article Source: Shayne Hall
EzineArticles.com

Forex Trading Strategies - Analyzing the World

Forex Trading Strategies - Analyzing the World
By Ferris Malone

Are you interested in a profitable and flexible opportunity that can enhance your financial situation and improve your way of life? Well, there are few people who would give a negative answer to that question. You need no college degree or extensive training for this potentially lucrative endeavor. What am I referring to? It’s foreign currency trading, commonly known as Forex. It is the world’s highest volume trading market and is expanding at exponential rates. Read on and discover how Forex can greatly benefit your life and financial aspirations.

Technical Or Fundamental Analysis?

In the foreign currency market there are basically two types of analysis: technical and fundamental. You will often hear traders referring to their methods as either “technical analysis” or “fundamental analysis” depending upon the tools they use to arrive at decisions. A fundamental approach is one in which a trader mainly considers fundamental numbers, current events, and economic indicators of the countries of the intended currency exchange. A technical approach differs in that decisions are reached based upon analysis of price fluctuations and patterns of change that the currency has undergone recently. It is a numerical analysis as opposed to the fundamentalist’s analysis of conditions and situations which affect the market. Each is a useful tool and the sharpest traders will consider both options to a certain degree.

Looking At Fundamental Analysis

Let’s look at the fundamentalist approach to trading. World events have a definite impact on currency price fluctuations. When events unfold it can alter prices on a daily basis and if your emotions are not kept in check you can easily give in to fear and panic, which always results in faulty analysis and impetuous decisions. You must realize that the media which control the news we hear is a potent force in molding perception of an event, often distorting the truth for their own purpose. They have their agenda and most certainly are not concerned with your financial well-being. Think for a moment on chaotic events such as devastating hurricanes, tsunamis, floods, and other natural disasters.

These events can disrupt communities and even governments, but can also be overplayed by news media seeking inflated ratings. The damage is real, but in most cases it should not invoke our panic in the trading marketplace. Keep your wits about you when trouble strikes. Also, there is the effect of corporate disasters such as Enron, WorldCom, or even Martha Stewart’s troubles which affected her publishing business. Be aware of current events and seek out reputable news sources and online databases for accurate reports on how these affairs actually influence currency fluctuations.

Plan Your Trades - Trade Your Plan

To forestall personal monetary loss due to changing world events, make sure you have a reasonable, specific plan for trading. Develop a sound system of safeguards for each trading decision you make and stick to your system, learning to overcome anxiety and panic. Sensible planning is your best protection from a major financial downturn. You cannot control the events but you can decide to react to them in a logical, calculated manner.

Forex is an exciting marketplace with immense possibilities for success, but it is not a frivolous journey that holds no risk. Be wise and focused. Your goal is to make money. Stay centered on your goal and do all the preparation you can to learn successful techniques and practical knowledge of the market. If you remain calm and sensible, with your mind alert to events that incur price oscillations, you will be well on your way to accomplishing financial security, regardless of what the media is attempting to sidetrack you with!

Want to retire early or just looking for additional income?

Discover the benefits a great Forex training program and effective coach can make by attending a risk-free online seminar offered by The Forex Trading Institute. Whether you’re a new trader or experienced veteran, rock-solid Forex training makes all the difference.

For information, free 21-page report, and a seminar schedule visit http://www.thetradinginstitute.com

Article Source: EzineArticles.com Expert:Ferris_Malone
Forex-Trading-Strategies—Analyzing-the-World

Now is the Time To Buy Low so you can Sell High!

If you are serious about getting rich, you understand the importance of buy low and sell high.  And most investors will say that they attempt to buy low and sell high, but the reality is just the opposite!  No matter what the investment, be it stocks, real estate, or gold, when prices are soaring, people are buying like crazy. Then, when the inevitable crash happens, those same people are rushing to sell. They have it all backwards!

The news media is no help. They are moaning and groaning about the plummeting DOW.  The Real Estate Market is down 30% in some areas, oh wow is me.  But the savvy investor is saying just the opposite.  Woo Hoo! The sales are on!  Now is the perfect time to buy stock and real estate.  There is just one caveat. Do your research, and be prepared to hold onto your investment until the next buying frenzy, when you can sell high.

One investment I would avoid buying right now… Gold.  It is bouncing off of highs right now, fueled by the uncertainty in the economy. Remember, the saying is buy low, SELL high. The economy will improve, it is only a matter of time, and the price of gold is sure to go down.

Secrets of the Rich - Conclusion

Accomplishment-

What actions will take you closer to your goals? Decide upon the steps and write them down. Review them until you feel comfortable with those steps. Then repeat them at least once a day, crossing them off as you accomplish them.

“I believe there is no escape from the rule that We must do many, many little things to accomplish even just one big thing,” said James Dupont. “This gives me patience when I need it most.”

The most rewarding accomplishments are those that take long to achieve and present difficulties.

It is only through these difficulties that a person can rise above the rest to be the unusual, the outspoken and the well-deserved. As if building a kit, follow your own instructions. Decide your best courses of action and achieve their benefits.

Whether the steps are small or large, make them achievable and then do them. Don’t commit yourself to things that you never intend to do.

“Even if you’re on the right track, you’ll get run over if you just sit there,” said Will Rogers. Don’t be paralyzed by inaction; rather act upon your own convictions.

Set yourself up for rewards. Don’t give yourself goals that have no feeling of satisfaction or no monetary rewards. If you want to be an artist, be the best and learn from the best.

Don’t dwell on imperfections or the awkwardness of unpolished skills.

If you go into business, do it for profit or reinvestment. “In business, the earning of profit is something more than an incident
of success. It is an essential condition of success. Because the continued absence of profit itself spells failure,” said Justice
Brandeis.

Marchant wrote, “To be a success in business, be daring, be first, be different.” Think of ways to achieve the best; formulas to increase productivity or decrease overhead. Profit is your drive.

“Profitability is the sovereign criterion of the enterprise,” wrote Peter Drucker. And, profitability is the core of any achievement - whether financial or artistic.

Once you achieve your goals, think of ways to benefit others. “Money-getters are the benefactors of our race,” said P.T. Barnum. “To them we are indebted for our institutions of learning, and of art, our academies, colleges and churches.”

How can you benefit humankind and still keep enough to fulfill your own desires?

The Hidden Asset-

Not all success can be counted in dollars; not all richness is measured by money. “The great secret of success is to go through
life as a person who never gets used up,” said Albert Schweitzer.

“Retire upon yourself and look for the ultimate cause of things inside you.”

Look within yourself for the ultimate inspiration, and follow the true feelings you discover. “One of my favorite methods is to whisper,” said Alfred Hitchcock. “I’ve discovered the best work is done with sweet reason.”

Act upon your own conscience -that guides; that judges your actions and signals your behavior. “Conscience is the inner voice that warns us that someone may be looking,” wrote H.L. Mencken.

Accomplish what you desire; fulfill your inner yearnings. But don’t compromise your deepest feelings. “We do our best that we know how at the moment, and if it doesn’t turn out, we modify it,” said F.D. Roosevelt. Follow the paths that life offers you and live the fullest existence you can.
Take a Look-

Look at yourself and look at those who have succeeded throughout history. Do you have what it takes? Even if you have only a few of the qualities of the other great people, you can achieve your heart’s desire.

Reach for the highest, then reach higher. Accomplish your steps one by one on a daily basis, always moving forward, always making progress. Encourage yourself. Insist that you can succeed and affirm these thoughts daily.

Keep a sense of proportion and judge for yourself. Then keep busy at the tasks you’ve set out to accomplish. What’s keeping you? “Genius is one percent inspiration and ninety-nine percent perspiration,” said Albert Einstein.

Find inspiration wherever you can. Talk to people; read about people; learn your business or craft. Believe that you can do it and you will. The only way to dispel the doubt that you can do something is to finish it.

Always be the best you can be. Never fall short from fatigue or lethargy. Don’t attempt to do anything that you can’t give your all to.

There is no way to inner satisfaction without appealing to the higher consciousness. Search within and without to find the paths that are meant for you and follow them with conviction and a steady heart.

And, you will succeed to become as rich and full as you ever desired.
Harold Ickes wanted the “freedom to live one’s life with the window of the soul open to new thoughts, new ideas and new aspirations.”

And Woody Allen looked for a clear path. “If only God would give me some clear sign” he said. “Like making a large deposit in my name at a Swiss bank.”

Finally, Sophie Tucker sums up everyone’s worldly outlook: “I’ve been rich and I’ve been poor,” she said. “Rich is better.”

We wish you success!

Secrets of the Rich - Part 6

Ask Yourself-

As you consider the success you desire, you need to affirm its possibilities and develop the self-confidence necessary to attain
the goals. Learn to do things well. “If you know how to do one thing well, you can do everything,” wrote the philosopher Gurdjieff.

Are you ready for success?

• Is what you are doing now helping you to achieve your goals?
• Do you weigh the consequences before making a decision?
• Is this the best use of your time?
• Do you cooperate with everyone and help cultivate their best potentials?
• Are you warm and sincere?
• Do you have the courage to succeed?
• Do you have the self-discipline necessary to achieve your goals?
• Do you have a realistic sense of self-worth?
• Do you give more than you take?
• Do you have the courage to fail, and then pick up and try again?
• Can you assume responsibility without blaming others if things go wrong?
• Are you strong?
• Can you be sympathetic to life and its sufferings?
• Can you say no?
• Will you follow your convictions and plans to achieve?
• Do you sincerely want to achieve the goals you have chosen?

Taking Responsibility-

“The price of greatness is responsibility,” wrote Winston Churchill. Are you willing to take the responsibility once you attain the success you desire?

“The deepest personal defeat suffered by human beings is constituted by the difference between what one was capable of becoming and what one has in fact become,” wrote Ashley Montague. And the greatest tragedy is to become less than your full potential, using less than the abilities you have to work with.

Are you waiting for something to happen? Maybe you’re waiting for a job offer, or a promotion. Perhaps you’re waiting until you get good enough at a craft or skill. Or are you waiting for the inspiration of creativity to strike your life?

It is up to you to take the actions and be responsible for their consequences. “Our responsibility: every opportunity, an obligation; every possession, a duty,” wrote John D. Rockefeller, Jr.

Inspire yourself. Read books that will spurn you to action; talk to people who have the vitality you admire. How would you like to lead your life? And make the changes necessary to be like that. “There is nothing permanent except change,” wrote Heraclitus.

What changes do you want to make? What are you waiting for?