People everywhere are referring to 2023 as the year of the recession. Some predict the recession will hit in a matter of months while others believe it won’t become a reality until later in the year. Whether or not these predictions have any validity, people all over the country are already struggling to get their bills paid and their families fed.
This wouldn’t be the first, or even the second, recession to hit the United States. Many individuals have lived through one before and learned the hard way how to persevere without losing everything they worked so hard to attain. Doug Andrew, a successful financial strategist, has lived through multiple downturns in the economy, and while he has success now, he and his wife once almost lost everything they held dear. His story is a true testament to how, even at the very last second, making the right financial decisions can turn it all around.
A Learning Experience
In the early 80s, Andrew and his wife, Sharee, had just built their third home. This was their dream home. They were truly living the life so many strive for, looking over the railing of their master bedroom deck, watching deer and elk share in their space.
Two years later, the early ’80s “double-dip” recession, rippled across America. This recession saw interest rates reach unprecedented heights and resulted in an incredibly high unemployment rate.
Like so many others across the country, Andrew and Sharee experienced a series of setbacks they never could have imagined. A sudden loss of income made them financially vulnerable. They made ends meet by selling other properties they owned but eventually found themselves facing foreclosure on the home they loved so much.
Being forced into this situation is what spurred Andrew into exploring financial strategies that could protect his family from market volatility. It was losing his home that taught him to never listen to “traditional advice” when it comes to this market. It’s about innovation and thinking outside the box. Fortunately, Andrew was able to turn an otherwise demoralizing experience into something positive that has gone on to positively impact thousands of lives.
Becoming Financially Aware
Becoming financially aware protected Andrew and his family. Now, he shares what he learned with his clients through his brand3 Dimensional Wealth, with the goal of doing the same for them. He went on to become an expert in Indexed Universal Life policies, going on to teach others how to properly structure and maximum-fund these policies to enjoy liquidity, safety, and predictable rates of return, along with tax-free income and income-tax-free transfer of wealth to loved ones after passing.
Through his work, Andrew reminds us that we can all turn our setbacks, challenges, and successes into catalysts for growth.
Andrew’s 3 Dimensional Wealth mission is to inspire, elevate, and transform lives. He believes that security isn’t just about money, it’s about compounding Authentic Wealth in all 3 Dimensions of life. The first is Foundational, which encompasses our relationships, values, and pursuits. The second is Intellectual, which includes the wisdom we gain, The third is Financial, which includes anything to do with our money. He brings all three together to offer others a chance to live the life they truly deserve.
Becoming financially aware is what empowered Andrew and his wife to turn one of their greatest setbacks into into a truly defining moment for themselves and it could very well be what makes all the difference for you and your family in this ever-changing economy.
The post How Doug Andrew’s Financial Strategy Saved His Family in the Recession appeared first on International Business Times.