This continues my series of post aimed at helping the chartering community deal with uncertainty through creative ideas, investments and side hustles
7 - Keep your Job
Now this sounds a bit boring but lets look at some facts. With gold going through the roof and most investment classes (shares, property, interest rates) going backwards - those with steady jobs and steady cashflow can make huge gains (against the flock).
If you use this time to be a little frugal and get your cash reserves up you will be in a position to take advantage of the swing when it becomes obvious that good times are returning.
What we tend to do is look at our investment returns compared to previous returns. But in reality we should look at investment returns compared to others..
So yes - saving and putting money into cash may seem like a slow burn in a usual market BUT in this market (where many have portfolios retreating by 20-50 percent) treading water and improving cash positions is actually making you rich...
8 - “Alternative” Investing
For those who still have an appetite for risk. Alternative investments are vehicles like peer-to-peer lending, real estate crowdfunding, business lending, and even cryptocurrency.
This is one of my favorite side hustles because it’s automated and passive. Check out options like https://fundrise.com, which allows you to invest in revenue-generating commercial properties for as little as $500.
9 - Start a shipping blog or write a shipping book
Too late.....market is saturated
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And finally it is important to keep dreaming big.....this guy knows it!
VS
