“If your ship doesn’t come to port on time, then just go out and meet it!”
This is an old quote that says you can’t wait for opportunity. Sometimes you must make an opportunity.
Business is the act of connecting people who can make business viable.
I’ve been studying investment theories for years. Admittedly, I am no expert, but I know business is about supply and demand.
I am making a promise to myself to invest in cruise industry stocks sometime within the next year.
Not because I am ghoulish or root for this awful COVID-19 pandemic.
It’s because business, and investing, is all about recognizing opportunity.
I feel a need to do this now because I don’t take for granted that things will stay the same.
As of this writing, 3.3 million Americans applied for unemployment benefits last week. It shocked me.
Also, the number was probably higher – so many people were applying for unemployment that the system crashed multiple times.
I am worried about money. Correct that – I am horrifically worried about making more money and saving as much as possible.
Right now, its important to save money and to invest where possible. Also, it’s important to understand it takes years to get an ROI.
So, I am going to invest in cruise line stocks.
Investing in Time
I don’t have to tell you that the tourism industry is hurting, especially the cruise line industry.
Many cruise lines have shut down operations for a few months because of decreased demand. And, especially because of the bad P.R. caused by cruise ships in Asia which became floating COVID-19 quarantines in early 2020.
This isn’t opportunity now. People are terrified to get on cruise ships now.
But I know, I hope, science will figure out a cure, or how to mitigate, COVID-19 in the near future.
I read that some industry experts predict that the cruise line business will get back to pre-COVID-19 levels of business within 10 months.
I think that is wishful thinking.
One business expert believes that it might take 3 to 5 years before the cruise industry returns to pre-COVID-19 levels of business.
I know when it comes to investing you should have a few hundred or thousand in capital, wait for the right opportunity, and expect to wait years for ROI.
This is a prime opportunity and I will be ready to invest sometime within a year.
Read More
CUTTING DOWN ON TAKE OUT DUE TO COVID-19 (AND SAVING MORE $)
COVID-19 PANIC BUYING WASTES MONEY AND TIME – I PLAN AHEAD
HOW ROBO ADVISORS HELP MANAGE YOUR INVESTMENTS
HOW FICO’S NEW CREDIT SCORE METRIC AFFECTS YOU
I AVOID PEOPLE WHO ALWAYS ASK TO BORROW MONEY
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.