In a recent survey of executives, more than 60 percent of CEOs around the globe say they expect a recession in their primary region of operations before the end of 2023 or even earlier. At least 15 percent of CEOs say their region is already experiencing a recession as a result of the war in Ukraine. Entrepreneur and financial freedom expert Sean DeMarco believes that everyone should be getting ready as early as now as a global recession is highly likely to happen soon.
DeMarco believes that people must take a step back and take a closer look at what they are investing in and evaluate whether it is something that could be useful in the future. For the most part, a lot of Americans simply face financial problems as they come, when in truth, they could have strategically and effectively prepared for it long before they even happened.
“The big discussion on the table right now is a recession. Over the last decade, we have seen massive growth in the economy since really about the time of the housing crash. However, now, the supply chain and inflation are causing problems which is an area of concern,” Sean shared.
The best thing to do at this point, according to Sean, is for people to introspect and see what they already have within themselves that is worth investing in. Going through a recession is tough, but people can bank on what they are good at and use their skills and talents to brave the challenging season ahead.
“Your first investment should always be yourself, then your relationships and people around you who you surround yourself with in both your personal and business life. Both are byproducts of each other. Who and what do you value, and who values you? Once you invest in yourself, such as gaining knowledge and feeling more confident, you also need to invest in how you communicate. Oftentimes, people do not communicate when things get rough. Which only leads to more problems.”
To brave whatever comes in the future, Sean believes in the value of having a mentor. Those who are only about to start working on their investments need the guidance of a finance expert who has an in-depth knowledge of how the industry works. As the owner of DeMarco Enterprises International, Inc. and DeMarco Real Estate of Southern California, LLC, Sean is all about looking ahead and anticipating trends and potential threats before they even surface.
Preparing for the future entails being able to pivot and surround oneself with people who are ahead of where it matters the most. There is so much that can be learned from their experiences, and business and investment pitfalls can be avoided by understanding their past weaknesses and how they managed to rise above them. Sean, however, remains optimistic about the future and the economy long-term. He is confident that real estate, crypto and gold will continue to be valuable assets in the future.
DeMarco is opening himself up to those who need his coaching services the most. As the face of the next-generation financial freedom advocates, he has so much to share, from how he started in his entrepreneurial journey to how he made something of himself despite the many challenges and where he envisions his companies in the next few years. To prepare for the future and everything that it holds, the best time to start preparing is now.
Opinions expressed by US Insider contributors are their own.