309-Practical and Actionable Advice for How You Should Respond to Doomsday Financial Predictions and Warnings in a Rational and Intelligent Manner
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 16 March 2016
⏱️ 60 minutes
🧾️ Download transcript
Summary
I've featured several doom-and-gloom guests on recent shows. I like to give people an opportunity to make their case to me as convincingly as possible and I always enjoy challenging myself with catastrophic predictions.
But I struggle with a lot of the advice from those who predict global chaos in short order. Frankly, much of it is impractical.
So, in today's show I tackle the subject the way that I would tackle it if I were asked for my practical advice on the subject.
I hope it's useful for you!
Enjoy,
Joshua
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Transcript
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| 0:00.0 | I've had a few doom and glimmers on this show in the last few weeks. Some people who make some extremely strong and provocative predictions about the utter collapse of whether it's the world economy or the stock market or |
| 0:14.9 | or whatever some dire prediction and that's unsettled a few of you have gotten some |
| 0:20.7 | emails of people saying gosh well man, man, what do I do? |
| 0:23.8 | Well, I always try to ask those people, OK, |
| 0:26.0 | practically, what are the practical steps of what to do? |
| 0:29.6 | And frankly, I get really frustrated with their answers because I don't find them to be practically useful. |
| 0:35.2 | So today I'm going to tell you what my actions would be or what my advice would be if I were advising you or anybody on how to actually |
| 0:45.9 | practically, actionably prepare and respond to dire financial predictions and we're going to try to do this in a |
| 0:56.0 | rational and thoughtful manner. Let's see if we can make this happen. You ought to be |
| 1:02.3 | the judge of that. Welcome to the Radical Personal Finance Podcast. My name is Josh Wishitz and I'm your host. |
| 1:23.5 | Thank you for being with me today. |
| 1:25.0 | I'm so tempted to start this show in the way that Jack Spirico starts his |
| 1:31.6 | and steal his tagline. |
| 1:34.0 | Teaching you how to invest and live a rich life now |
| 1:37.0 | and build a plan for financial freedom. |
| 1:38.6 | If everything goes right, or even if it doesn't, |
| 1:40.9 | or if everything goes wrong or even if everything goes right, that's what I'd really love to |
| 1:45.1 | steal as a tagline for today's show. |
| 1:47.0 | Now obviously I just stole it. So to clarify for those of you who either haven't heard that interview or are not familiar, Jack Spirka who was on the show a few weeks ago, the tagline for his show is helping you build a better life, |
| 2:05.0 | let me see if I can do it, helping you build a better life now if times get tough or even if you don't. |
| 2:10.0 | And the reason I want to steal it is that even though that's an extremely wordy, I guess, |
| 2:17.0 | slogan, it's really a useful one, and it's the one that I think should be applied to every one of these decisions. |
... |
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