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Wealthy Way

Long-Term Wealth: Surviving and Thriving in a Challenging Economy

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.82.1K Ratings

🗓️ 11 December 2024

⏱️ 10 minutes

🧾️ Download transcript

Summary

A tough economy challenges us to think strategically and focus on resilience. Long-term success isn’t just about surviving—it’s about adapting, innovating, and staying ahead.---If you want to level up, text me at 725-527-7783! Get access to our real estate community, coaching, courses, and events at Wealthy University https://www.wealthyuniversity.com/Join our FREE community, weekly calls, and bible studies for Christian entrepreneurs and business people. https://www.wealthykingdom.com/--- --...

Transcript

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0:00.0

So when you talk about the bad economy, like literally during the bad times or coming out of the bad times when everyone's wounded.

0:08.2

A little bit of both.

0:09.1

Got it.

0:09.4

A little bit of both.

0:10.6

Because like that's where I think we are now.

0:12.4

Yeah.

0:12.6

We're like coming out of this time.

0:14.5

So for example, for both your, what you just said, the gold business that I had, it was the absolute worst economy. I mean,

0:21.8

everything was like horrible. It was 2007, eight, nine, 10, 11, 12, 13, right? It was the worst.

0:27.6

I was making more money during that time than anybody because I had so much money. I was able to,

0:33.1

you know, buy people's whatever for nothing. For nothing and they were happy selling it and I was able

0:39.7

to sell it right away and make all that money right away if it was a great economy I still could have

0:43.5

made money but nowhere near people wouldn't have sold as much so that's a way during a bad economy

0:48.6

where someone that has money could buy something from someone and sell it to someone else and make a lot

0:53.0

of money but the way you make a lot of money. But the way you make

0:54.6

a lot of money long term in a bad economy is, let's just say you're not good at buying and selling

0:59.5

stuff, but you have a lot of extra money. Well, what happens in a bad economy? Real estate drops.

1:03.6

Things drop. So you could now take your money and buy a whole lot of stuff for really cheap,

1:08.6

you know, 10, 20 cents on the dollar. And then you might not be able

1:11.0

to sell it right now because it's a bad economy. But five, eight years from now, you might

1:14.4

get 10 times what it's worth. And that's how you can make a lot of money. So you could make money

1:17.7

both ways, like right? Right. One is bad or buying it and just waiting a little time and then

...

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