Reasons You Should Protect Your Net Worth for 2022

Hey, my business people. In today’s Lessons for Business and Motivation:

In case you’ve been a bit too busy to notice, we live in rather interesting times. With incomes staying relatively flat and prices zooming upwards, many are tempted to try to find the best way to increase their net worth. Are you part of this movement? If so, tread carefully.

In our particular community, the average net worth is not much above zero for various reasons, some of which are historic and systemic as I’ve discussed in previous videos. This means we don’t have much room to take a lot of risks. Nevertheless, the economic times have pressured many of us to do something with what little we have. As a result, exotic stocks, crypto coins, alt coins, NFTs, real estate and multilevel marketing are eating up a lot of money.

Is it worth it?

I’ll let you decide as this video is not about giving investment advice. What we do have to watch for is what are the big dawgs, the elite, doing with their money. The big investors are quietly moving out of America and Europe (with London being a small exception). Perhaps this is why we’re seeing a strange dichotomy in the behavior of the financial markets, where the news is reporting endless bliss in the economy, but the real numbers show a looming nightmare.

During desperate, interesting times is when people become more tempted to speculate wildly on investments. As such, we are seeing many brothas and sistas investing in crypto currencies when they really don’t know what they are and who initially created them. This should be a major red flag. I’ll give you a hint: the same government agency that created the internet also created the original bitcoin, but used a fictitious person with a Japanese name to deflect attention away from that fact. So tread carefully.

The same thing is happening with NFTs, or Non Fungible Tokens. Some of us are piling into this new exciting investment scheme without know what the heck they are. Seeing all these stories in the news about NFTs of certain artworks selling for millions of dollars is very tempting, but my friends, we simply don’t have enough net worth to absorb this risk. I have included a video clip right now that discusses the victims of these get rich quick schemes popping up all over. Once things settle down, and hopefully the world economy is not a complete disaster, NFTs may prove to be worthy of their valuations, but right now, it is not there.

As for bitcoins and other cryptos, you would be wise to follow the rise of the Chinese digital currency as this will very likely render cryptos obsolete in the near future. This sounds crazy to some crypto fans, but the current losses in cryptos is no accident. They just want you to think the losses are just normal events.

Real estate is in a major bubble in various hot spots around the world, especially in America and Europe. Some are still jumping on the current artificial hot real estate market bandwagon, but with inflation rising to erode incomes and savings, and yet prices still high and out of touch with housing inventory realities, now is not the best time for buyers unless you’re absolutely sure you will stay in the house for many years.

With an increase in uncertain times comes more interests in time tested safe havens like silver and gold. More investors who have been through prior down cycles are already moving into these. Crypto is not a replacement for silver and gold, despite what you keep hearing in the media. The best way to know is to ask yourself if the power grid goes down nationwide or worldwide, which would still hold value: precious metals or crypto? Don’t think this can’t happen as governments have already warned citizens a few years ago to be prepared for a prolonged power outage event in the future. Be ready, my friends. Don’t let the news media fool you. Until the next video, watch your resources carefully and happy new year. It will be eventful, God willing.

Links:

Black Americans Earn 30% Less Than White Americans, While Black Households Have Just One-Eighth Wealth Of White Households (forbes.com)

https://www.forbes.com/sites/palashghosh/2021/06/18/blacks-earn-30-less-than-whites-while-black-households-have-just-one-eighth-of-wealth-of-white-households/?sh=252dba4550cd

Income and Wealth in the United States: An Overview of Recent Data (pgpf.org)

https://www.pgpf.org/blog/2021/11/income-and-wealth-in-the-united-states-an-overview-of-data

From crypto to meme stocks to NFTs, money has never felt more fake – Vox

https://www.vox.com/the-goods/22832438/nft-gamestop-amc-crypto-bubble

Ponzi Schemes, Identity Thieves and NFT Fraud, Oh My! | MarketMinder | Fisher Investments

https://www.fisherinvestments.com/en-us/marketminder/ponzi-schemes-identity-thieves-and-nft-fraud-oh-my

NFT Scams and Frauds – Manhattan District Attorney’s Office (manhattanda.org)

“Evolved Apes” NFT Investors Scammed for Millions | HYPEBEAST

https://hypebeast.com/2021/10/evolved-apes-nft-investors-scammed-for-millions-news

Crypto Scams Are on the Rise — Here’s How Investors Can Protect Their Coins | NextAdvisor with TIME

https://time.com/nextadvisor/investing/cryptocurrency/common-crypto-scams/

Mortgage Rates Increased Last Week. Here’s What Experts Forecast Amid Inflation and COVID | NextAdvisor with TIME

https://time.com/nextadvisor/mortgages/mortgage-news/rates-rise-experts-predictions-jan-3/

The biggest jump in home prices is behind us—why housing appreciation will slow | Fortune

Ray: Examining 2022 real estate market trends | News, Sports, Jobs – Standard-Examiner

Indy Q+A: Vegas Realtors president expects cooling housing market in 2022 – The Nevada Independent

https://thenevadaindependent.com/article/indy-qa-vegas-realtors-president-expects-cooling-housing-market-in-2022

Biggest Crypto Scams in 2021 and What to Expect in 2022 By CoinQuora (investing.com)

https://www.investing.com/news/cryptocurrency-news/biggest-crypto-scams-in-2021-and-what-to-expect-in-2022-2728960

Are you considered middle class in your state based on your income? (usatoday.com)

https://www.usatoday.com/story/news/nation/2021/10/18/you-considered-middle-class-your-state-based-your-income/8499080002/

Where Do Billionaires Keep Their Money? – Financhill

Millionaires-only R360 club ‘filters out’ the ‘wrong people’ (nypost.com)

https://nypost.com/2021/12/11/millionaires-only-r360-club-filters-out-the-wrong-people/

Here’s when the ‘everything bubble’ will burst | Fortune

Snowden Releases NSA Documents Showing Bitcoin Was “#1 Priority” – Bitcoin Newshttps://news.bitcoin.com/snowden-releases-nsa-documents-showing-bitcoin-1-priority/

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