James Richman, the Latvian born self-made billionaire, lives a secretive life and invests his time to generate wealth to help people living in regions which lack basic medical facilities. In today’s time, when the entire world is gripped with fear due to the financial crisis in the near future, James Richman remains positive even in this tense environment.
Many economists have said that global expansion will continue till next year and that the global recession will come into effect in the year 2020. This will lead to an increase in the interest rates, inflation and will affect global stimulus package on a large scale.
James Richman has a lot of experience in dealing with difficult situations and he had faced many crisis situations in his life. In his childhood, he had faced the situation of homelessness and participated in manual labor to earn living for his family. When he grew up, he encountered the incident of a troubled marriage and saw the tragic death of his younger daughter. After his little daughter passed away due to unavailability of proper healthcare systems in his poverty-stricken area, he decided to work for this global problem on his own.
He believes that resiliency is imperative for today’s generation and the necessary financial education should be given to students to cope with debt situations. In addition to this, he stresses the importance of keeping an emergency fund for difficult times and the use of technology to diminish the impact of an imminent crisis. Because of his innate ability to make a huge profit by investing in several avenues, he has managed to achieve a huge financial success. James’ techniques to invest successfully will help him easily make a profit even in the situation of the imminent financial crisis, due to which he has a positive mindset.
