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How will you personally make $$ in this recession?

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fastlanedoll

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Almost all my excess income is currently going towards my mortgage, which I expect to pay off in a little under two years.
I bought at the wrong time, just before when things started to dip :(

But I will still aim to start my business in late April :)
 

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Ernman

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My suspicion - please note I have NO evidence to back this up - is that recessions are hardest on those in the slow lane. Sidewalkers don't care - they'll just keep charging to more credit cards and sucking off the good nature of over-caring governments and those who feel compelled to help. But slow lane drivers aren't as likely to take a handout. They'll work longer hours or additional jobs. They'll by into to dollar cost averaging the investments with the view that the economy will turn around and they'll be better off in the long run. I know because I was one. I took pride in my hard work, frugal habits and wise investing decisions.

But Fastlane thinkers will find opportunity in a recession. We will look around and say, "what needs can I address now." It's what we do. A recession is just opportunity by a different name.
 

Ernman

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I bought at the wrong time, just before when things started to dip :(
You only lose money if you sell in the dip. Like you, I once bought a house at the wrong time. I held it, rented it during the dip and came out better when the market recovered. If this is your primary residence (and you're not house hacking), it's not an investment anyway - it's your house.
 
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fastlanedoll

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Nah, it's an investment piece.
I'm renting it out, but the recession has affected rent $$ too.
What I'm lamenting right now, is that I could have gotten it cheaper if I waited til now.

I do realize fastlaners find opportunity (very good ones, in fact) in recession.
That's why I'm asking this question :D
 

minivanman

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Where do you live that is in a recession and the houses are lower priced right now?
 

ZCP

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why wait to start a business in april?
what will be different then?
what do you need to 'start a business' that you do not have?
 

ZCP

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PM'ed ;)
I will finish my last exam ever (in my life) then.
and there is absolutely NOTHING that you could get started to set you up to hit the ground running then?
 

James Fend

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I spend a shit ton of time studying and analyzing markets, much more than I want to.

With that said... we are not in a recession in the US. And we will not be in one until, if anything near the end of the year.

With that said, any upcoming recession won't affect the housing market much. Of course some, but no 50%+ more discounts on anything.

Just wait until 2029 and some years after if you want 90%+ discounts on housing.

EDIT: 2/28/20
I've changed my stance after spending 10 hours analyzing. I believe we are entering or one foot in the door of a recession.
 
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Ernman

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I will finish my last exam ever (in my life) then.
Every day in the real world is exam day. Difference is there's no artificial grading bell curve or useless grade attached.
 

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