I Made So Much Money During The Recession!

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[phoeni]

"Nobody gets hurt on a rollercoaster except those who jump off"

that analogy is absolutely SPOT ON!! 👏👏👏

[yanabushuyeva]

“No one get hurt on a rollercoaster unless you jump off.” Love that.

[discodench]

Wow its almost as if rich people arent bothered by downturns and take advantage of it!

[Hallowsaw]

Get out of debt, save up 1 year of expenses. Invest 6 months expenses when the market crashes. Recipe for wealth. Rinse and repeat every recession.

[jefflombardi]

Always buy during a recession. The fed will always make sure the market skyrockets over the next 5 years.

[ld]

"Bear markets make people a lot of money, they just don't know it at the time" - Shelby Davis

[Jeff-xyfv]

I made a ton of money during the last recession, too! I used to buy and flip houses in Livonia, MI from 2009 until 2013. I haven't been able to do that since, because the market has changed so drastically. The dilapidated houses like I would buy back then, have been selling for more in recent years than completely renovated ones did during the recession. I can't make a profit on them anymore.

[Brandon-nzpd]

"More Millionaires were made during the Great Depression than any other time."

[CareerWatch]

You must have money in a recession to take advantage of it

And to have money, you must either own a profitable business, be on a good career path, or have a very generous, wealthy family member.

Its a great time to become a registered nurse / software developer / airline pilot / dentist / etc.

[captainfailtv]

It's about capital. Some people have it, others don't. You had it at the bottom of the market.

[rharris]

This video is a little to self righteous for me.

[mathgasm]

I did well in the last recession and I bought individual stocks. You either do solid research or do index fund and dont panic.

[joparks]

I've learned so much from you, Dave Ramsey. Thank you so much.

[Elizabeth-ygmg]

I followed Dave's instructions and invested in several good mutual funds on January 5, 2020. The funds went nuts--up about 5% in five weeks. I knew something other than up would eventually happen and it did! Things will be fine in the long run--it's interesting to watch.

[samtavoosian]

If you are living the correct way every situation is an opportunity

[RetireCertain]

Interesting. I thought you preferred a long term buy and hold strategy based on asset allocation regardless of market cycles. If you are using a long term buy and hold strategy based on asset allocation, you wouldn't have extra cash to invest when assets are cheap after a bear market. Did you raise the percent of cash in your portfolio, then, prior to the late 2007 to March 2009 bear market to enable you to buy all these assets off the bottom? If so, what valuations or factors do you use to raise cash in your portfolio?

[DrayannaLambert]

because of your show we bought Royal Caribbean Cruise stock during the covid down trend at about 22.00 a share its now at 172.45. thanks for all your insight and education

[nickbehrooz]

March 2020, stocks are on sale! Just snatched some Boeing, Apple, BRK-B, some cheap oil stocks that are $4 a share and 3 months ago they were $49 a share! Bought a few other ones too but I agree with Dave! In 5-6 years when we have another correction I will be buying real estate!

[vmfan]

No one knows the bottom until the upward trend starts. Which is why I will be buying on the way down and up.
The question is always where are you going to get the money to buy with.


Personally, I'm getting ready by getting into a cash position. Selling off some of my equity so I can hopefully buy some discounted equity and real estate. Also cutting spending and buying some precious metals.

[shadwell]

Fun fact:Dave isn't wearing pants