How to Prepare for a Recession

What is the current situation of the economy? If you're a successful entrepreneur, it's important to be always prepared for even the worst scenario. You’ll want to have multiple plans to protect yourself and your financial freedom. While you often do not have any control over the impact that tough economic times will have on you. There are steps that you can take to prepare yourself better. In this video, Andrew shares how you can get ready for a recession.

At Nomad Capitalist we encourage you to ‘Go Where You Are Treated Best’ and protect your wealth. We work with seven- and eight-figure entrepreneurs and investors who need a second citizenship, or they’re looking to go offshore and protect their wealth. But we also help clients form Plan B’s. The market is volatile, inflation is rising, with whispers of a recession looming, how can you prepare? Andrew will discuss your concerns here… how to prepare for a recession, what to do in a stock market crash right, and high inflation.

00:00 Start
00:31 What is the current situation of the economy?
4:00 Global financial crisis
05:49 How to Prepare for a Recession
10:45 Asset protection

Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".

Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.

Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[Milestonemonger]

I think this is one of your most important videos. Preparing for the unknown and unexpected is imperative

[tonygomes]

Sad fact is, its pretty obvious we are headed for hyperinflation. I think stores better have tight security because when people can't afford to feed their families, things might get ugly.

[marcietownsend]

It's not a recession and it's not a depression; it's a wealth transfer like never seen before.

[joh]

Yes! We are from Perth, Western Australia most isolated city in the world and it was the worst for locking you out and locking u in!! It was
We left and now living in Dubai! So glad we left when we did! We are a family of four and it’s the best thing we’ve done! We should of done it 5 years ago.. however, we are
glad we did it now and not in another 5 years! Great videos Andrew! Thank you!! I actually get my busy to watch TV with your videos!!! Well done!! 🙌🙏😃

[karlapatterson]

My Dad used to tell me, in the 80’s, it’s best to have gold during a depression & cash in a recession. Although that might be backwards, I wish I could remember.

[vitae]

Hi Andrew! What do you think of fleeing to Chile to escape some of the effects of war. Maybe you can make a video that talks about best countries to escape to in case of WW3

[gcam]

How would you raise kids in this nomad lifestyle living in several countries every year? My wife and I are really thinking about how challenging this could be or how amazing it could be.

[georgemav]

Great show and I love the passion. You mentioned taxes. I have an idea, what about a transaction tax and also auditing large institutions and politicians. I think some interesting things would happen. I am Australian and I would say stay away and I will through Canada in the mix as well.

[phtochk]

Andrew, Thank you for the great content and advise!

[frankmosses]

If you are talking about ETF / paper gold. That doesn't make sense. If it's not in your hand you don't have have it gold etf's are grossly over sold, meaning if you aren't the first one to take possession you won't have it.

[oliverallen]

Can you speak to how the sanctions are splitting the world in two? Russia not being able to use their foreign money is going to change how nations outside of NATO see the dollar. It’s not a universal, neutral, store of value anymore.

[dansouth]

I agree with the premise on cash and diversification, but you always will have the FX risk. So getting 5% here or there sounds good but it may not work out that well.

[fabiocaetanofigueiredo]

There's always someone winning somewhere when others are losing, that's for sure

[lovitac]

I enjoy your videos very much. I recently moved to Chile from the US and I think your channel is very helpful.

[mikefellbach]

There already is a wealth tax in place - it is called inflation.

[BlazeGuitarLessons]

Great info! Can you make a video on how to get residency in mexico?

[michieme]

Turdo won't allow some of us to even leave Canada. Andrew, maybe you can do a video on how we can escape lol.

[fpanadero]

Where was the low cost bullion dealer/storage he mentioned in a earlier video?

[markthomas]

I’m Canadian, took a USA vacation with my family. Upon return I didn’t get my c v d test. “Was allowed in” but faced a $5000 potential fine from federal health department. I turned around to get the silly test.

[brendaphillips]

So what currency do we keep our cash in?