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How Wealthy Women Thrive During a Recession

When a recession comes to town, a wealthy woman doesn’t break down and lose her confidence. She actually gains more than she has ever had before. This is her time to shine and show that she is worth every penny that she has attracted.

So while the majority of Americans may have suffered an unforgettable 401K loss, she has her assets spread out (diversified) and her mind focused on the new opportunities that will rise.

Because in every market downturn, there are winners and there are losers.

How can you be on the winning team and thrive during a recession?

Here’s what some of the wealthiest, most influential women have done to attract and accumulate wealth?

Solve a Problem

Never let a crisis go to waste. When there is a problem, entrepreneurs think of solutions and that’s how they thrive.

You have to pump money and productivity back into the economy that spurs healthy growth. By starting a relevant business, a woman can provide solutions that the economy needs during a time of uncertainty.

Here’s a problem. I have a solution. I grow, expand, and hire people and put cash in their pocket. The growth has been artificial through the Fed because the Fed has been pumping money into the economy. That’s an unhealthy way to bring money back into the economy.

Create Your Own Lane

Now that we’ve established the entrepreneurial bug has bitten you, how do we stand out in the marketplace? Be so good at what you do that you don’t even have competition.

Offer something that is uniquely you. Exceed the requirements that everyone is looking for.

You sell yourself and your solutions (products or services) so well that you tell the people what they need; what others are doing doesn’t even matter.

Competent, confident, and complement what the organization is seeking. You align with the solution. Be so good at what you do that you become credible.

Seek Lucrative Investment Opportunities

While everyone else is cutting back, this is your time to dive in. This is when all the money you’ve been saving up comes in handy. When the economy is down, assets are cheaper to acquire. Learn about the markets,

When everyone was buying, you were being conservative and stacking your money up. Not only did you save, you got out at the right time.

When the market dips a certain percentage point, you snatch up.

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About Charlene Rhinehart, CPA

Charlene Rhinehart is a Certified Public Accountant, Founder of Wealthy Women Daily, and Editor-in-Chief of the Dividend InvestHer and The Wealthy Woman Investor. Charlene is currently the Chair of the Illinois CPA Society Taxation Individual Committee. With over a decade of experience in the financial services industry, Charlene is one of the few leaders who design insights specifically for the woman investor. Charlene’s work has been featured in a variety of publications including the Huffington Post, Black Enterprise, and the American Institute of Certified Public Accountants. In 2019, Charlene released her book “Dividends Are a Queen’s Best Friend”, on Amazon.

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