Recession Proof Your Life

Learn 10 practical steps you can take to weather the financial storm coming. Mark and Mat share real strategies that work and you can apply with your loved ones immediately.

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00:00 Topic Overview
03:49 Be Aware and Educated
05:37 Don’t Panic and Sell
10:16 Do a Financial Statement
11:36 Don’t Do Dumb Money
14:40 Pay Attention
16:15 Should I Stay or Go
21:13 Get Out of Debt
22:12 For Crypto Investors
27:16 Cash Reserves and Savings
30:22 This Recessions Different
35:55 Summary of Points, Be Ready to Buy

[pattyharris]

I planted a food garden for the 1st time this year and WOW, seeds really do turn into food. I am using .99 cent shopping bags and kiddie pools to keep the project cheap. Not to mention the joy I experience with the maintenance and seeing the fruits of my labor. It will now be something I do on a regular basis.
Seeds are cheap and give you more seeds for the next growing cycle. The garden makes me happy!

[SummerBaby]

I’d love for the channel to put out a video about side hustles, businesses, and employment that is recession-proof, or even does better during a recession.

[yolandadaniels]

Your advise is great, as that is what I am currently doing, working to get rid of my debt. I appreciate your content as it catches what is really happening in this economy.

[tylerm]

You guys are glossing over the interest rate issue... That will have an impact

[uncommonsense]

6 months ago I moved out of ALL stocks and moved into bonds and cash. Completely dodged major bullet. As soon as inflation really starting growing, I bailed on stock market. Thank God I was paying attention. Ive lost nothing in my investments. Up like 2%

[vaskenderboghossian]

NO Mark, crypto is NOT like real estate . Crypto does not produce cash flow or anything for that matter .., does not earn or build equity in the background while generating daily income .. please don’t compare crypto to real estate . Crypto is not an asset . buying crypto is not an investment, it is a mere speculation at best . It has no intrinsic value . its value purely depends on the next speculator who buys or sells their crypto . I find it very irresponsible of anyone comparing crypto to real assets such as stocks, real estate, or commodities .
Thanks

[danbarrett]

FED is still going to raise rates a total of 11 times in 2022. Rates will have similar effect @ 8-10% as Volker's 22% Rates in early 1980s. Back then we did not have 2nd Housing Bubble, Avg House Price currently is +$500, 000. Monthly Cost for a House @ $400k is +$600 increase so a $200k House is +$300. How many Americans can afford that increase plus gas prices, food prices, energy prices, car prices etc.

[djelly]

Homes are in a bubble. Even with new homes getting built it won’t be like last year where ppl bought homes unseen just to get a bid in. That won’t happen again here. It will grow but grow at slower rates before it rolls over. Kind of like a double top or a lower low. Either way it will be the beginning of the drop in house prices for years to come. The hope is a slow decrees and not a crash. 2023-2024. Look to buy in 2025 when interest rates start decreasing instead of these interest increases.

[AmericanConstellation]

What's wrong with taking profits and buying back in? If you are young, do that!

[danbarrett]

NASDAQ went down -73% & took over 10 years to break even. Market Indices moves are different than a portfolio of 60/40 Bonds are crashing already & may be down 35-30% by early 2023. That has never happened before.

[David-iygh]

I think cash is actually king going into 2023

[ronjohnson]

dumb money is out doing the hedge funds right now. Marvin gone, Tiger gone, 3AC and Celsius insolvent. After I cash out my stocks I'm going to need your services, LLC, Trust, and more.

[texasRoofDoctor]

I have to say that Matt may not be the worst Fed Chair we have had. Just saying

[keepitreal]

anything that you can pay off will see a drop .anything you can't will rise in real terms .

[BlueSkyGuitar]

Nice to have some tempered advice from you both - many thanks 🙏

[financialeducation]

What if you went 30% cash a month ago when the s&p was 4, 300?

[tmboslic]

Does your office hold consultations for out of state clients?

[vivianmace]

Something I always do is look for what people are giving away for free. Many people have things lying around and want to get rid of it for free and I make it a habit to look for free things around me daily. Love the lessons. Aloha and God Bless.

[Matthew-fxuy]

🔴🔵 *GLAD I GOT INTO CRYPTO WHEN I DID BECAUSE IT'S BEEN A TURNING POINT FOR ME FINANCIALLY, BEEN MY BEST DECISION SO FAR* 🤗🤗

[GaryGregoryMOBS]

Business as usual. When you are financially literate, you will create wealth regardless of the economy.