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By N2H
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Do I Really Need a Certified Financial Planner? [ September 8th, 2010 ] | 133 views | Leave a Comment

There’s once a time when I thought I’d pursue a career in financial planning as my main job after I changed from my career in the software engineering field to graphics design field. I’ve always been interested in providing financial related information to others. But it would take some time for me to study and take some certifications in order to become licensed financial planner. At that moment, I didn’t give up and found a new way which one step closer to achieve my dream — become a Financial Blogger!

CFP course

However, i’m just the beginner in this field and need to always explore what kind of work a financial planner normally gets into. After 2 years being financial blogger, I have realized that the longer I stay in financial industry, the more easier in doing business.

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Who Suffered The Most During Recession?

Just straight to the point, what’s the ripple effect of economic downturn?

Happening Now:

Lower bank savings interest rates
Falling housing sales and reduced property values
Companies are downsizing, and filing for bankruptcy
Higher unemployment rate

So who is the most affected group? For sure, people may say poor people most affected. For me, it depends on your current financial situation. People that have NO SAVINGS suffered the most. People that pretend to be rich suffered too. However, middle-income group suffers the most since need to work harder to solve today’s challenges.

Economic downturn only benefits the top few tycoons in the world where they hold on the bulk of the money, to keep it from circulating, forcing companies to close down due to lack of cash flow and debt, which in turn forces stocks and shares price drop. When it drops, these top people will dump their money in and buy more, then wait for the economy to improve, and then sell off for profit.

Rich Get Richer, Poor Get Poorer

rich and poor

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March 4th, 2009 | Posted in » Economic Analysis | 4 Comments | 5,739 views