A HUGE mega-market crash is fast approaching and people need to act now to avoid inevitable economic disaster, says Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, forecast a “giant” market crash is set to happen this October.
It is October as I write this…the crash has not happened. (yet!) You don’t really need to concern yourself about market predictions. Most of the time they are wrong. However, at some point in time, a crash will hit everyone.
Warren Buffett talks about ‘don’t lose money’. He is right, but how do you not lose money? To not lose money you need to place a bet. It means you think more about the short term rather than the long term. An example may be increasing your cash to protect against market falls. Yet if no crash occurs for 10 years, that would be a bad decision over the longer term.
To not lose money requires action today.
Most investors do nothing.
Sometimes there is a feeling that if everyone is losing money, including you, then its easier to accept.
This is accepting ‘group think’.
We all know a crash is coming, we just don’t know when or how big it will be. Rather than doing what most investors do, which is nothing, why not review your investments and make sure you’ve made them as crash proof as you can. We call it taking back control over your money.