We don't really know when is the next global economic crisis might occur. All of a sudden, it might be happening within this very moment. The last financial crisis happened in 2007 which saw US economy crumbled and soon the dominoes effect occur significantly to all the other stakeholders which saw rising of inflation, increasing debts, increasing unemployment, closing businesses and other major events due to the crisis. We knew what happened and it was ugly.
How are you preparing for the next global financial crisis?
I guess the next important question is not when but how.
How are you preparing?
The next global financial crisis could be happening anytime soon. Most people caught off guard when it last happened. The same thing happened during the Asian financial crisis in 1997. Most people was carefree until it really struck.
We should learned from the past and prepare to what may come. You should be ready.
Many experts suggested that to keep some cash. However, cash won't be important anymore when inflation hits high.
Hence, to prepare myself with the financial crisis, keeping gold and cryptocurrency is a smart plan and saving.
Gold has been proven to be inflation proof. In the event financial crisis happen and inflation hits, gold value remains the same or less effected. Plus, gold is a smart saving plan in the long term too. There are plenty ways of saving gold nowadays. I saved mine as physical gold and in gold value apps like Hello Gold.
Hello Gold is from Malaysia. Anytime I want to exchange back to money can be done via their apps.
Another saving I did was saving cryptocurrency. This is because crypto does not have direct significance with the economy. Hence, making it quite an independant assets. Keeping crypto is essentially a smart move to ready myself with the global economic crisis. Another reason I choose crypto was because a lot of used Use Case examples. Hence, I saved Bitcoin and Hive incase recession happens. Plus, crypto like Hive can be a Passive Income and saving if you know how to do it right!
Saved Bitcoin for future self. Who knows what might happen right?
Now, are you ready for the next recession?