SlideShare une entreprise Scribd logo
1  sur  5
Télécharger pour lire hors ligne
Entrepreneurship
                                                                                                                Ref: 0007




INVESTMENT NOTICE: Message Web Site Content Limitations
We make no guarantees as to the accuracy, thoroughness or quality of the information on this web site, which is
provided only on an “AS-IS” and “AS AVAILABLE” basis at User’s sole risk. Investopedia shall not be responsible
or liable for any errors, omissions or inaccuracies in the web site content. The information and investment
strategies provided at this site are neither comprehensive nor appropriate for every individual. Some of the
information is relevant only in Canada or the U.S., and may not be relevant to or compliant with the laws,
regulations or other legal requirements of other countries. It is your responsibility to determine whether, how and to
what extent your intended use of the information and services will be technically and legally possible in the areas of
the world where you intend to use them. You are advised to verify any information before using it for any personal,
financial or business purpose. The web site content and services may be modified at any time by us, without
advance notice or reason, and Investopedia shall have no obligation to notify you of any corrections or changes to
any web site content.




7 Ways To Position Yourself For Recovery




7 Ways To Position Yourself For Recovery


In a gloomy economic marketplace, it's easy to have a negative outlook on the future. Many become worried about
the state of the economy and simply focus on surviving and staying afloat amidst the uncertainty.


What many of us forget is that economies recover, although we rarely know when. But if you prepare yourself for
the road ahead, your financial outlook for the new economy will leave you sitting pretty.




                                                    For further information on this article and the
                                                    coaching programs available please contact:

                                                           Image Group International
                                                             Asia Pacific Head Office
                                                             Tel: (+61 3) 9820 4449
                                                           E: info@imagegroup.com.au
                                                           W: www.imagegroup.com.au
                                                                       ©2009
Know Your Time Horizon


It's important to make sure your investment goals are aligned with your investment time horizon. Reviewing your
investments and making sure that those investments are still appropriate for the stage of life you are in or will soon
be entering is extremely important.


Individuals approaching retirement will have much different needs from their investments than young graduates just
entering the work world. Aligning your goals with your investments is fundamental to being a successful investor.




Lock In Low Rates


During times of economic uncertainty, it is not uncommon for interest rates to drop to very low levels. At times like
this, it can be in your best interest to take advantage of lower interest rates, especially for homeowners. Locking in
at a low interest rate for five or 10 years can save mortgagors thousands of dollars over the course of their
mortgage.


Even if you are locked in at a higher rate already, you might still come out on top by remortgaging at a lower rate,
even after paying penalties associated with renegotiating that rate. Weighing all your options to make the best
decision can really pay off.


                                                    For further information on this article and the
                                                    coaching programs available please contact:

                                                           Image Group International
                                                             Asia Pacific Head Office
                                                             Tel: (+61 3) 9820 4449
                                                           E: info@imagegroup.com.au
                                                           W: www.imagegroup.com.au
                                                                       ©2009
Pay Down Debt
It can be easy to run up a big debt load when the economy is not cooperating, but this is not a smart move in any
economy. Instead, take advantage of the economy. Typically, low interest rates can help you pay off your debts
more quickly, as more of the payment will go to principal rather than interest.


Paying off high-interest debt, such as credit cards, should be the first priority for people during uncertain economic
times. Carrying balances on high-interest debt vehicles can make it very difficult to build savings when
the economy turns around.




Diversify
We've all heard the old phrase "don't keep all your eggs in the same basket". This old adage couldn't be more true
when it comes to your investments. Keeping a diversified portfolio of investments protects your nest egg from
risks that can ravage your portfolio.


It's no coincidence that the professional money managers who are constantly preaching to investors about
diversification are the same ones who tend to escape market downturns and negative economic news in a far
better position than those who don't.



                                                    For further information on this article and the
                                                    coaching programs available please contact:

                                                           Image Group International
                                                             Asia Pacific Head Office
                                                             Tel: (+61 3) 9820 4449
                                                           E: info@imagegroup.com.au
                                                           W: www.imagegroup.com.au
                                                                       ©2009
Make A Budget
It's hard to believe that many people still do not take the time to create a budget. For those who have refused to sit
down and take an objective look at their spending habits in the past, there is no better time than during an
uncertain economy. Simply sitting down and comparing spending habits to the amount of money you have to spend
can be a real eye-opener.


Quite often it can be easier to ignore the obvious or put off financial planning for another day. However, by knowing
your financial situation and knowing steps you need to take to achieve your goals, you can put yourself on the path
to a positive and successful financial outlook.




Don't Go At It Alone
It can be difficult to make a financial game plan when you don't have the slightest idea about personal finance.
Fortunately, you don't have to go at it alone. Talk to your financial planner, and if you don't have one, go get one.
Financial planners are trained professionals and personal finance is their forte.


A financial planner can help you set up a financial game plan and make sure that you stick to it. Take the time to
meet a few financial planners and get a feel for them as people. You should be 100% comfortable dealing with the
person who will be helping you handle your finances.

                                                     For further information on this article and the
                                                     coaching programs available please contact:

                                                            Image Group International
                                                              Asia Pacific Head Office
                                                              Tel: (+61 3) 9820 4449
                                                            E: info@imagegroup.com.au
                                                            W: www.imagegroup.com.au
                                                                        ©2009
Smile
Don't let tough economic times get the best of you. Feeling stressed about money is an issue for everyone, but
worrying about things that are out of your control only adds to your stress. By putting a smile on your face and
living your life with passion and enthusiasm, you'll find that the everyday stresses of life won't bother you the way
they used to.


By using the tools we've discussed here, you can put yourself in a position to be financially confident in your future
prospects when bad economic times turn around.




                                                     For further information on this article and the
                                                     coaching programs available please contact:

                                                            Image Group International
                                                              Asia Pacific Head Office
                                                              Tel: (+61 3) 9820 4449
                                                            E: info@imagegroup.com.au
                                                            W: www.imagegroup.com.au
                                                                        ©2009

Contenu connexe

Plus de Jon Michail

YOU’RE IN GOOD COMPANY…
YOU’RE IN GOOD COMPANY…YOU’RE IN GOOD COMPANY…
YOU’RE IN GOOD COMPANY…Jon Michail
 
WHAT THE MEDIA SAYS…
WHAT THE MEDIA SAYS…WHAT THE MEDIA SAYS…
WHAT THE MEDIA SAYS…Jon Michail
 
9 people you must remove from your inner circle
9 people you must remove from your inner circle9 people you must remove from your inner circle
9 people you must remove from your inner circleJon Michail
 
Innovating through a recession
Innovating through a recessionInnovating through a recession
Innovating through a recessionJon Michail
 
The media's role in the financial crisis
The media's role in the financial crisisThe media's role in the financial crisis
The media's role in the financial crisisJon Michail
 
Maximising your personal brand value
Maximising your personal brand valueMaximising your personal brand value
Maximising your personal brand valueJon Michail
 
Language pattern
Language patternLanguage pattern
Language patternJon Michail
 
The eleven rules of life
The eleven rules of lifeThe eleven rules of life
The eleven rules of lifeJon Michail
 
The elevator speech with impact
The elevator speech with impactThe elevator speech with impact
The elevator speech with impactJon Michail
 
Personal branding old school vs new world
Personal branding old school vs new worldPersonal branding old school vs new world
Personal branding old school vs new worldJon Michail
 
Communicate your message – build your personal brand
Communicate your message – build your personal brandCommunicate your message – build your personal brand
Communicate your message – build your personal brandJon Michail
 
Personal brand power
Personal brand powerPersonal brand power
Personal brand powerJon Michail
 
Image & personal grooming by jon michail
Image & personal grooming by jon michailImage & personal grooming by jon michail
Image & personal grooming by jon michailJon Michail
 
How to win awards & grow your business
How to win awards & grow your businessHow to win awards & grow your business
How to win awards & grow your businessJon Michail
 
Dress like you mean business
Dress like you mean businessDress like you mean business
Dress like you mean businessJon Michail
 
Does your brand match the promise
Does your brand match the promiseDoes your brand match the promise
Does your brand match the promiseJon Michail
 
How to monetise your personal brand
How to monetise your personal brandHow to monetise your personal brand
How to monetise your personal brandJon Michail
 
Who owns the brand you
Who owns the brand youWho owns the brand you
Who owns the brand youJon Michail
 
IGI personal branding system in action
IGI personal branding system in actionIGI personal branding system in action
IGI personal branding system in actionJon Michail
 
The man behind the brand
The man behind the brandThe man behind the brand
The man behind the brandJon Michail
 

Plus de Jon Michail (20)

YOU’RE IN GOOD COMPANY…
YOU’RE IN GOOD COMPANY…YOU’RE IN GOOD COMPANY…
YOU’RE IN GOOD COMPANY…
 
WHAT THE MEDIA SAYS…
WHAT THE MEDIA SAYS…WHAT THE MEDIA SAYS…
WHAT THE MEDIA SAYS…
 
9 people you must remove from your inner circle
9 people you must remove from your inner circle9 people you must remove from your inner circle
9 people you must remove from your inner circle
 
Innovating through a recession
Innovating through a recessionInnovating through a recession
Innovating through a recession
 
The media's role in the financial crisis
The media's role in the financial crisisThe media's role in the financial crisis
The media's role in the financial crisis
 
Maximising your personal brand value
Maximising your personal brand valueMaximising your personal brand value
Maximising your personal brand value
 
Language pattern
Language patternLanguage pattern
Language pattern
 
The eleven rules of life
The eleven rules of lifeThe eleven rules of life
The eleven rules of life
 
The elevator speech with impact
The elevator speech with impactThe elevator speech with impact
The elevator speech with impact
 
Personal branding old school vs new world
Personal branding old school vs new worldPersonal branding old school vs new world
Personal branding old school vs new world
 
Communicate your message – build your personal brand
Communicate your message – build your personal brandCommunicate your message – build your personal brand
Communicate your message – build your personal brand
 
Personal brand power
Personal brand powerPersonal brand power
Personal brand power
 
Image & personal grooming by jon michail
Image & personal grooming by jon michailImage & personal grooming by jon michail
Image & personal grooming by jon michail
 
How to win awards & grow your business
How to win awards & grow your businessHow to win awards & grow your business
How to win awards & grow your business
 
Dress like you mean business
Dress like you mean businessDress like you mean business
Dress like you mean business
 
Does your brand match the promise
Does your brand match the promiseDoes your brand match the promise
Does your brand match the promise
 
How to monetise your personal brand
How to monetise your personal brandHow to monetise your personal brand
How to monetise your personal brand
 
Who owns the brand you
Who owns the brand youWho owns the brand you
Who owns the brand you
 
IGI personal branding system in action
IGI personal branding system in actionIGI personal branding system in action
IGI personal branding system in action
 
The man behind the brand
The man behind the brandThe man behind the brand
The man behind the brand
 

7 ways to position yourself for recovery

  • 1. Entrepreneurship Ref: 0007 INVESTMENT NOTICE: Message Web Site Content Limitations We make no guarantees as to the accuracy, thoroughness or quality of the information on this web site, which is provided only on an “AS-IS” and “AS AVAILABLE” basis at User’s sole risk. Investopedia shall not be responsible or liable for any errors, omissions or inaccuracies in the web site content. The information and investment strategies provided at this site are neither comprehensive nor appropriate for every individual. Some of the information is relevant only in Canada or the U.S., and may not be relevant to or compliant with the laws, regulations or other legal requirements of other countries. It is your responsibility to determine whether, how and to what extent your intended use of the information and services will be technically and legally possible in the areas of the world where you intend to use them. You are advised to verify any information before using it for any personal, financial or business purpose. The web site content and services may be modified at any time by us, without advance notice or reason, and Investopedia shall have no obligation to notify you of any corrections or changes to any web site content. 7 Ways To Position Yourself For Recovery 7 Ways To Position Yourself For Recovery In a gloomy economic marketplace, it's easy to have a negative outlook on the future. Many become worried about the state of the economy and simply focus on surviving and staying afloat amidst the uncertainty. What many of us forget is that economies recover, although we rarely know when. But if you prepare yourself for the road ahead, your financial outlook for the new economy will leave you sitting pretty. For further information on this article and the coaching programs available please contact: Image Group International Asia Pacific Head Office Tel: (+61 3) 9820 4449 E: info@imagegroup.com.au W: www.imagegroup.com.au ©2009
  • 2. Know Your Time Horizon It's important to make sure your investment goals are aligned with your investment time horizon. Reviewing your investments and making sure that those investments are still appropriate for the stage of life you are in or will soon be entering is extremely important. Individuals approaching retirement will have much different needs from their investments than young graduates just entering the work world. Aligning your goals with your investments is fundamental to being a successful investor. Lock In Low Rates During times of economic uncertainty, it is not uncommon for interest rates to drop to very low levels. At times like this, it can be in your best interest to take advantage of lower interest rates, especially for homeowners. Locking in at a low interest rate for five or 10 years can save mortgagors thousands of dollars over the course of their mortgage. Even if you are locked in at a higher rate already, you might still come out on top by remortgaging at a lower rate, even after paying penalties associated with renegotiating that rate. Weighing all your options to make the best decision can really pay off. For further information on this article and the coaching programs available please contact: Image Group International Asia Pacific Head Office Tel: (+61 3) 9820 4449 E: info@imagegroup.com.au W: www.imagegroup.com.au ©2009
  • 3. Pay Down Debt It can be easy to run up a big debt load when the economy is not cooperating, but this is not a smart move in any economy. Instead, take advantage of the economy. Typically, low interest rates can help you pay off your debts more quickly, as more of the payment will go to principal rather than interest. Paying off high-interest debt, such as credit cards, should be the first priority for people during uncertain economic times. Carrying balances on high-interest debt vehicles can make it very difficult to build savings when the economy turns around. Diversify We've all heard the old phrase "don't keep all your eggs in the same basket". This old adage couldn't be more true when it comes to your investments. Keeping a diversified portfolio of investments protects your nest egg from risks that can ravage your portfolio. It's no coincidence that the professional money managers who are constantly preaching to investors about diversification are the same ones who tend to escape market downturns and negative economic news in a far better position than those who don't. For further information on this article and the coaching programs available please contact: Image Group International Asia Pacific Head Office Tel: (+61 3) 9820 4449 E: info@imagegroup.com.au W: www.imagegroup.com.au ©2009
  • 4. Make A Budget It's hard to believe that many people still do not take the time to create a budget. For those who have refused to sit down and take an objective look at their spending habits in the past, there is no better time than during an uncertain economy. Simply sitting down and comparing spending habits to the amount of money you have to spend can be a real eye-opener. Quite often it can be easier to ignore the obvious or put off financial planning for another day. However, by knowing your financial situation and knowing steps you need to take to achieve your goals, you can put yourself on the path to a positive and successful financial outlook. Don't Go At It Alone It can be difficult to make a financial game plan when you don't have the slightest idea about personal finance. Fortunately, you don't have to go at it alone. Talk to your financial planner, and if you don't have one, go get one. Financial planners are trained professionals and personal finance is their forte. A financial planner can help you set up a financial game plan and make sure that you stick to it. Take the time to meet a few financial planners and get a feel for them as people. You should be 100% comfortable dealing with the person who will be helping you handle your finances. For further information on this article and the coaching programs available please contact: Image Group International Asia Pacific Head Office Tel: (+61 3) 9820 4449 E: info@imagegroup.com.au W: www.imagegroup.com.au ©2009
  • 5. Smile Don't let tough economic times get the best of you. Feeling stressed about money is an issue for everyone, but worrying about things that are out of your control only adds to your stress. By putting a smile on your face and living your life with passion and enthusiasm, you'll find that the everyday stresses of life won't bother you the way they used to. By using the tools we've discussed here, you can put yourself in a position to be financially confident in your future prospects when bad economic times turn around. For further information on this article and the coaching programs available please contact: Image Group International Asia Pacific Head Office Tel: (+61 3) 9820 4449 E: info@imagegroup.com.au W: www.imagegroup.com.au ©2009