My name is James Leveque. I am a financial service provider; I have been in the finance world for five years now. Before getting into the finance industry, I was a public-school teacher for 11 years. I knew it was time to leave the classroom and find another way to make a living when I was not excited to get out of bed and go to work. Additionally, I wanted to become wealthier and teaching in the inner-city, although it was a respectable profession it was not going to provide me financial freedom. Being in the financial industry many of my client’s concerns are what should they do with their money with inflation on the rise.
Investing is the single most effective way to get rich. Inflation can be bad for individuals when you just keep your money sitting in a bank account and do nothing else with it. But what kinds of companies should you be investing in?
The first best thing you can do to protect against inflation is to invest in yourself and your skills: If you’re the best teacher, if you’re the best surgeon, if you’re the best lawyer, you will get your share of the national economic pie regardless of the value of whatever the currency may be.
The second-best protection is a wonderful business, which means a company in which the products are in demand even if the company does have to raise prices. An example would be CBD products, they have been flying off the shelves throughout most of the US with many states now allowing for the legal sale of CBD. With the COVID-19 pandemic, CBD businesses have reported record sales due to consumers focusing more on mental health.
Companies that tend to withstand an inflationary environment must have two characteristics: (1) an ability to increase prices rather easily (even when product demand is flat and capacity is not fully utilized) without fear of significant loss of either market share or unit volume, and (2) an ability to accommodate large dollar volume increases in business (often produced more by inflation than by real growth) with only minor additional investment of capital.
These are some tips and tricks that I have learned over the years. Hopefully this can help you and your loved ones as well. If this information was beneficial to you, feel free to contact me on my Instagram @talk2emjay. Check out my website as well, www.levequeentertainmentgroup.com .I post weekly videos about gaining financial freedom. TALK2EM!