How to Get Rich During a Depression (My 5 Step Plan)

Here is my 5 step plan to make money during this market crash. The stock market has been super crazy and can be confusing to navigate, but these simple tips have helped me make money and I hope they help you to - Enjoy! ► Hit me up on Instagram! https://www.instagram.com/hishamzkhan Here are the steps to help set you up for success during a recession: 1) Do not panic sell at a loss: You don’t actually lose money until you sell 2) Do not try to time the market: Instead do what we call Dollar Cost Average: which is investing in intervals no matter what the state of the market is. This stratgey protects you against volatility. I personally like to invest 10% of what I am comfortabrble investing into the market at that time. So, if I want to put $12,000 a year into the market, instead of putting it all in at once I would put in $1,000 every month. 3) Invest in mutual funds, index funds, or ETFs. These are the easiest ways to invest into the market, and MY Favorite. You don't have to stress about the performance of companies or spend time researching stocks, you can just leave your money without thinking about it. The mistake a lot of people make when buying into funds is investing in one with fees that are too high, which can cancel out your gains. . My rule of thumb is that .5% is too high and I don't invest in funds with fees that high. 4) Put a smaller portion of investments into individual stocks, these require heavy research and you should never invest in a company you don't understand. I always make sure the company has strong financials, strong growth potential, and is a product I actually believe in. 5) MOST IMPORTANTLY don’t depend on your stock investments TO GET RICH. If you invest like I discussed I am certain you will be a millionaire in 40 years time, which is great you can be in your 70s or 60s and be financially free. But, personally I want to become as financially independent as soon as possible, and to do that you cant rely on just the stock market. Instead, use stocks as a tool to grow your money and then put it towards other investments that make you more money AKA business or real estate. This diversification of income is ESSENTIAL to building wealth. DISCLAIMER: The information is this video is not intended to be taken as financial advice, you need to do your own research. This video is simply for entertainment purposes. #InvestingInRecession #InvestingTips #IncomeOverOutcome