#480 How To Manage Your Finances in this Economic Climate and Election Year
Main Street Business
Mark J Kohler and Mat Sorensen
4.8 • 584 Ratings
🗓️ 27 February 2024
⏱️ 30 minutes
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| 0:00.0 | So I want to say this. In today's economic climate, there are five to ten things you can do. |
| 0:04.4 | And we're going to go through those here. And this is why we're talking about this. And I want to say, these should be not just an election year. I don't care if it's a good economic climate or a bad economic climate. These are things we should be doing anyway. I think a lot of people are like, what should I be doing differently? You know, this is an election year. |
| 0:19.8 | If so-and-so wins, it's going to go the stock market and the economy is going to go on fire. |
| 0:23.9 | If so-and-so wins, it's |
| 0:21.0 | going to go the stock market and the economy is going to go on fire. If so-and-so loses, |
| 0:25.2 | it's going to be chaos and the country's going to, and I need to move to another country, you know, like I need to move to Canada. It's like, okay, all right. You need to have a plan. Yeah. It's not always going to be sunshines and roses. You've got to have a plan. So we're going to present that plan today. |
| 0:40.5 | Welcome everyone to the main to be sunshines and roses, you know, you've got to have a plan. So we're going to present that |
| 0:37.5 | plan today. |
| 0:40.5 | Welcome everyone to the Main Street Business podcast. This is Matt Sornson. I am sitting next to the |
| 0:44.8 | great and powerful. Mark J. Kohler, we are so stoked to be with you today talking about what, |
| 0:49.5 | Mark? Well, it's a somber topic. It is serious. It's what to do maybe right now in this economic climate. And also, does the election year impact it? We're getting a lot of comments in social media. Hey, what do you guys are doing or recommending? It does it matter if it's going to be red or blue and, you know, what's going to do? Is that going to, should I change my investment strategy? |
| 1:11.1 | What should I do? Fair questions. We've got some, I think, some very helpful answers. But most importantly, there's millions and millions of Americans that are feeling the pinch. It is bad. People are using credit cars to pay for groceries. They're not sure what things are going to be looking like. The cost of living is off the chart. For a lot of people |
| 1:28.2 | in certain brackets of income, it's very, very challenging out there. And we understand that. We're |
| 1:33.9 | about Main Street America. Matt and I both grew up in simple homes with hardworking parents. |
| 1:40.3 | I grew up on a farm. Matt was in the suburbs. Both of our parents were business owners and |
| 1:45.1 | real estate investors. Also had W-2s at times. And we just really have a lot of life history, too, |
| 1:51.6 | that we hope will impact this. But lots to share on this. Yeah, I think we're in the trenches, |
| 1:56.6 | too, as business owners and just how they're trying to make good decisions. But we've also had |
| 2:00.7 | the thousands of consults with clients, seen what works and what doesn't. And also been through some years where it's been tough, you know, and had some scars ourselves and some lessons we've learned there. So let me hit the first thing, though, about the election year thing, because I just have an opinion about that, you know, there's differences of opinion about this. |
| 2:17.8 | You know, okay. |
| 2:18.2 | When you bring up election, obviously. Yeah, man I have some good political debates, by the way. Not that, I mean, I think we're both business owners and we like good business policy, but we'll leave it at that. But yeah, the politics of it. Yeah. I think a lot of people are like, what should I be doing differently? You know, this is an election year. |
| 2:34.7 | If so-and-so wins, it's going to doing differently? You know, this is an election year. |
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