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4 Steps to Take Right Now if You're Worried About a Stock Market Crash

October 27, 2020

Where were you when the stock market crashed in March of 2020? Or in 2008, 2001, 1987, or 1929? Moral of the story, it’s bound to keep happening.

According to Forbesthe U.S. stock market saw one of its fastest declines on record in March 2020. The Dow Jones index experienced its second worst day ever, and the VIX, a measure of volatility, hit an all-time peak.” And while this was happening, and 40 million Americans filed for unemployment – billionaires saw their net worth increase by over 600 billion dollars, Business Insider reports.

Want to prosper, like they do, regardless of what the stock market does? Here are 4 steps to take right now to have stable, risk adverse passive income that doesn’t depend on the volatility of the market.

How is this possible, you might ask? By generating multiple passive income streams that pay you whether you’re working or not. Join the prestigious group not relying on 401ks, the government, or even a paycheck. They aren’t worried about interest rates since their debt is paid off.

Here’s how:

STEP ONE

Change your thinking from a buy and hope strategy to a cash flow strategy.

Look for strategies and methods that can ensure you always have a steady stream of monthly passive income regardless of stock market fluctuations. The stock market isn’t a cash flow mode, it’s an appreciation model. If you’re relying on it to be worth what you need it to be in the future, you might as well be gambling.

STEP TWO

Start your Plan B long before you need it.

Don’t wait until you lose your retirement savings, your job or your sanity. At that point it might be too late.

STEP THREE

Use proven systems for income creation

In the book “the one-minute millionaire” Robert Allen and Mark Victor Hansen say “millionaires search for successful systems before they launch their money-making vehicles

The problem is most people don’t think like this. They follow the herd instead of looking for proven systems. Usually, the herd gets slaughtered!

STEP FOUR

Measure your options based on the five characteristics of the ideal money-making system. Most people work for their money instead of having their money work for them.

  1. Zero cash - The ideal money-making system doesn’t require any cash, or at least not any of your cash
  2. Zero risk – Use a multi-faceted strategy to reduce risk
  3. Zero time - Once you get the system up and running, there is very little time needed to maintain
  4. Zero management - There is not a lot of ongoing maintenance involved in passive money-making systems
  5. Zero energy - You are the sum of different things you invest your time and money in - put it towards the things you really care about.

Ready to break free of the stress of the stock market, and take advantage of a proven system? Book a free strategy session with one of our Wealth Coaches who can guide you out of the stock market and into generating passive income streams.

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