I live in the USA. I have been pretty successful so far in life and have done well financially. I’m at a crossroads in life and as I look out at the world I can’t help but question the status quo. For all of my life the US has been on top and we are the most wealthy nation on the planet. I do not necessarily think we are going to just have some kind of overnight financial ruin although it may be possible. It does seem to me we are in a downward spiral though. Most young people cannot afford to own a home as they have in the past. More people than ever are going into more and more debt to survive. Inflation is taking a major toll. Even people with a low 6 figure income are living paycheck to paycheck. It doesn’t look good. I don’t really see a way that it gets better with the way that things are going and how deep of a hole we have dug. I see financial preparedness discussed a lot on here and I have done pretty well in that arena as well as the other traditional preps (food, water, security, medical supplies). As I mentioned before, I am at a crossroads. I keep running through the paces in my head of what kind of businesses will do well in the coming decades??? It seems we are in a slow burn decline socially and economically. If you had very little or no debt and a fair amount of money (let’s say 250k) to start a new business or buy a successful one what would be your direction? Most of my experience has been in the restaurant business and I have done very well. Part owned 2 very successful restaurants. I am also a jack of all trades. I built my own cabin this last year. I’m not afraid to learn something new. In the mindset of financial preparedness and financial resiliency what direction would you go? I do think lower income rental properties will be a good place to be in the coming decades but I am also wanting to have a business going as well.
Any thoughts or ideas are appreciated.