The Prosperity Blog

The CARES Act Explained (VIDEO)

by | Apr 3, 2020 | 0 Comment

What the new Coronavirus Aid, Relief and Economic Security Act means for you and your business.

If you have been trying to figure out the new stimulus/retreat bill passed last Friday, we have a treat for you!

Our friend Tom Wheelwright just recorded a video with all of the ins and outs of the CARES Act. He outlines the specific benefits availabe for both individuals and businesses, and gives you guidelines on who qualifies.

Tom is one of the most innovative and in-demand financial educators we know! CPA, author of Tax-Free Wealth and host of The WealthAbility podcast, we are thrilled to feature Tom’s expertise!

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Your “Cash from Scratch” Guide to Creating Income

by | Mar 27, 2020 | 0 Comment

How to start a new side-hustle, job or career working from home!

In an unbelievable sequence of events, the U.S. unemployment rate hit a new record this week—unfortunately, not for record low levels. Figures released by the Department of Labor showed 3.28 million new claims, shattering the old record for the most claims filed in a single week.

But it’s not all bad news. Times of crisis and challenge are also times of great opportunity! This may be the ideal time to try something new, learn a new skill, or begin a side-business that can bring you income for years to come.

In The Side Hustle Bible, James Altucher says “we live in an opportunity economy” and an “idea economy.” Just because certain jobs have vanished does not mean there is a shortage of ways to earn money. Years from now, you might even look back and see that this time was a turning point that got you out of a rut and started you on a new, profitable path!

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Safe Haven Assets for your Dollars

by | Mar 13, 2020 | 0 Comment

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Where can you keep your money where it will be safe!? That’s what many investors are asking themselves right now. They are looking for safe haven assets and weighing their choices. Today we will review options such as T-bills, bonds, gold, bank products, and our favorite safe haven asset!

But first, let’s be clear about what is NOT a safe haven asset:

It’s not a more “conservative” stock portfolio. The S&P 500 is down a whopping 22% in one month, but we’ve seen losses in virtually every sector. Industries that usually provide stability or profits during times of volatility and recession are only faring a bit better:

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Saving and Investing in a Volatile Market

by | Mar 6, 2020 | 1 Comment

“People should be more concerned with the return OF their principal than the return ON their principal.” (Often attributed to Will Rogers, probably mistakenly.)
Saving and Investing in a Volatile Market

Investing in a volatile stock market presents some big challenges—as many have recently learned! The last couple of weeks, we have seen tremendous uncertainty and volatility on Wall Street. This included the fastest 10%+ drop in the history of the stock market… followed by a “circuit breaking” dive this morning.

Tech stocks have been hard hit. Travel industry stocks have plummeted. Retail and restaurants fell as well. Nearly all stocks lost value. The price of gold rose, then gold mining stocks crashed. The price of oil fell, and financial stocks crashed along with it. We’ve seen rallies in between the valleys, but virtually every corner of the stock market has suffered losses.

What now!?

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5 Steps to Prepare for an Emergency

by | Feb 27, 2020 | 0 Comment

“You might be a prepper if your homeschooled 7-year old knows Morse code, your dog has a bug-out bag, and your basement is filled with toilet paper, ammo and bic lighters (and you don’t smoke).”

—The Internet

This week, the spread of the novel coronavirus, aka COVID-19, and the corresponding 9-percent-in-a-week drop of the stock market are in the headlines. Today, we focus on how to prepare for a potential emergency situation or disruption of “life as usual.” In a few days, we’ll cover safe havens for saving and investing. (If you are practicing Prosperity Economics, you might have “weatherproof” strategies already in place to keep your money working—even during a black swan event!)

In case you’ve been hiding under a rock, let’s quickly review the situation. According to the compiled official data synthesized at Worldometers.info, over 82,000 people in 50 countries are now reported to be affected by Covid-19. Tens of millions have been quarantined and the loss of life, especially in China, is sobering.

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