The pandemic-induced layoffs that began in the spring are still sweeping through California, leaving people scrambling for new jobs and side hustles.
Then, just as businesses were trying to re-open, Governor Gavin Newsom ordered a slew of restrictions that force many California businesses to shut again.
If you’re struggling with lost work or other financial stressors, it’s worth considering how you can adapt your professional skill set and investment strategies to adapt.
#1- Adapt a skill you already have. Take Chef Cal Peternell. He opened a restaurant in September 2019. The coronavirus hit California and destroyed his business. So he pivoted and now goes to people’s homes to cook intimate dinners.
#2- Take your abilities online. Before the pandemic, magician Dean Apple performed mostly at corporate events and private parties. Now, Apple is serving a different audience: kids. He’s been hired by day camps to teach magic and perform shows online. He earned $2,400 for a month’s worth of videos for a school district in Alaska.
#3- Make a change. Advertising executive Jimmy Smith, has won a pile of awards and accolades. With the pandemic taking all marketing activities, he decided he was going to push through with plans he long ago put off because of work. He is finally creating products of his instead of advertising others. He is in the process of patenting a unique Augmented Reality Glass.
#4- Invest in metals. Resist the desire to cash out your IRA or 401K. I know it’s discouraging to see the value of your investment go down. There is a way to protect its value without pulling it out. Invest in metals like gold, silver, platinum and palladium.
You can open a self directed IRA and convert it to metals. Metals have proven to be the most stable investments through all economic collapses. Metals will not only ensure the value of your wealth now will remain intact after all these are over. It will also guarantee gains if you invest the right way.
We can definitely help you with it.