Investing for Actors and Artists

Adam (my husband & Abundance Bound partner) was doing a a teleclass on investing this weekend for our Bootcamp students, and he made a couple of points that I think are particularly relevant in the current climate.

1. We are entering / in a recession (or "slight economic downturn". depending on who is speaking...) and, despite what most people will say, now is EXACTLY the right time to be learning about money. Learn how to handle it when you don't have much, and you won't be used as a cautionary tale 10 years from now when you've had it, blown it, and are now back to square one.
2. Be looking for foreclosures / re-possessions that you could take advantage of with 2 or 3 other people. If you are OK with having room-mates for a couple of years, are there people you trust you could split down payment and mortgage with, so that you could get in to a place in the next year or so, live there while the property appreciates, then sell in 3 - 5 years time at a nice profit? (We have had students do this successfully - it is very doable with a little focus).
3. Learn to invest! Warren Buffet had a rule - "Be scared when others are greedy, and greedy when others are scared". Everyone's is scared right now, so we should all be looking for opportunities. 
   

Just a couple of thoughts on a Monday afternoon.

Have a great week!