Save $10,000+ in less than a year by doing these 10 things.

Recessions are another way to get rich, but you need the money to play.

Photo by Alexander Mils on Unsplash

I recently watched a video about the many ways that the rich use recessions to get richer and here's my biggest takeaway.

My number one takeaway (it's so simple!)

Number 4: Buying the stock at the bottom.

“Buy low and sell high?”

You might have heard the phrase plenty of times, but how often do you use it? In a recession, few industries are bulletproof to the economic impact, such as healthcare, food and beverages, D.I.Y. and repairs, etc., basically the essential industries that keep society functioning amid a crisis.

However, some of the most significant gains investors make are during a recession. When the world goes into a frenzy and starts panicking, the rich calmly go out shopping—buying shares of some of the biggest companies in the world at discount prices.