Recession - Do You Have A Plan?

Rate this:
By - 26 April 2008
: Brian McCoy

The word recession is lurking in a lot of people's minds these days. What choices do you have to ensure stability during down times?

The majority of people worry that they may be laid off from their job, that inflation will take hold, or that they will be forced out of their home due to lack of funds. These are all legitimate concerns. So what are you going to do about it?

These are just some of the choices that you have to consider.

Option #1 - More Education

You might be thinking that more education or an advanced degree will secure your position at work or increase your paycheck. However, this will require extra hours away from your family with no guarantee of job security or pay increase.

Option #2 - Another Job

Another option would be to get a part time job to supplement your income. However, once again this will take time away from your family and could leave you feeling exhausted and less productive at your full time job.

Option #3 - Start A Business

You could choose to start your own brick and mortar business. Unfortunately, this often requires high start up costs and being married to the business. When you add in things such as overhead, employees, and insurance, the headaches are never ending. That doesn't even include the fact that 4 out of 5 small businesses will fail within their first 5 years in business.

Option #4 - Real Estate

Real estate investing is another option. House flipping has become a popular side job. However, in a decreased economy, you could be sitting on a property for months. If you aren't able to afford riding out the market, you should probably not select this option.

Option #5 - Internet Marketing

This is where it starts to get good. Millionaires are popping up all of the time thanks to the online revolution. Thanks to low start up costs, decreased risk, and no overhead or employees, internet marketing is quickly becoming a phenomenon. Best of all, you get to work from home and have a 10 second commute.

Even in times of economic instability, the online world is buzzing. That is because so many people are looking to the online industry as a source for earning additional income.

It is strongly advisable for you to take some time and research this growing trend. What some have been able to do offline with their home based businesses is multiplied exponentially online.

We have been able to achieve success and wealth online in a few short years that would have taken a lifetime to do offline. Take a look. We think you'll be pleased with what you find.

Article Source: http://www.a1-articledirectory.com

To learn more about Brian McCoy and his online marketing techniques, visit his Big Ticket To Wealth website. Author: Brian McCoy is a top internet marketer and works with industry leading marketers from around the world. He specializes in helping others achieve success online.

About the Author

George Butler
Raj Aryan has varied interest in the field of business. In particular, he has a keen interest in SME's and the challenges these businesses face. He has written numerous articles about small business.