The United States again faces another "major crisis," according to a group of pundits who all have one thing in common: They haven’t achieved financial independence and more than likely never will.
But they all know what the future holds but have no credible track record in predicting economic trends.
Fortunately for you, I have achieved financial independence and I’m going to tell you what to do today.
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Look for equities which go on sale. What is ironic is that folks get all excited when the items they usually buy at a department store get marked down by 15 percent to 35 percent.
But when the stock market holds a similar “sale,” most investors don’t feel the same excitement. They really should.
The U.S. government will pay its necessary obligations, and at worst, many arcane non-necessary expenditures that we can't afford just won't be paid for awhile.
I mean, in your own life, haven’t you at one time or another spent almost double what you make every month?
Find solid companies that are selling at bargain prices. If you would like help in determining which investments are best please, consult someone like myself who actually has made their living doing this.
So, survival in such tense times is simple. The first rule is to find someone who has actually become financially independent solely from safe investing. How do you know for sure?
Newsletter writers like me have transparent records. But let's say your adviser doesn’t write a newsletter.
You need to ask the prospective financial adviser how much their annual dividend income is and also their age. Someone 75 years old with only $15,000 of annual dividend income isn’t better than someone who has $85,000 of dividend income and is 45 years old. Dividends are the first sign of safe investing.
The second rule in safe investing is to find companies that are either consumer-goods or big pharmacy companies. From 1957 to 2003, 18 of the top 20 companies in the S&P 500 were either big pharmacy or consumer-goods companies, when reinvested dividends were taken into consideration.
Also, stick with large-cap companies with market cap's over $30 billion.
Remember: just like in the ocean, in the business world the big fish eat the small.
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About the Author: Bill Spetrino
Bill Spetrino is a member of the Moneynews Financial Brain Trust. Click Here
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