484 - One Check Away from Broke: Why You’re Not Ready for What’s Coming

The Secret To Success with CJ, Karl, Jemal & Eric Thomas

Karl Phillips

Education, Self-improvement, Health & Fitness

4.9 • 6.5K Ratings

🗓️ 10 April 2025

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Most people don’t realize their real stress isn’t the layoff, the diagnosis, or the bad news — it’s the fact that everything in their life is depending on one source. One income. One plan. One backup. And when that one thing fails? Everything starts crashing. In this episode, the guys break down why relying on one stream of income is the fastest route to burnout — and what it looks like to actually prepare for a storm before it comes. If you’ve ever felt like your world was one unexpected bill away from collapse… this one’s for you. You don’t have to live in fear. But you do have to prepare. 👕 List to the full episode and then share it with someone who needs to get their financial foundation in order.

Transcript

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0:00.0	What happens when you do one and you don't even realize it,
0:04.0	but there's unnecessarily stress or pressure that you're putting on that one.
0:09.0	So whatever that one entity is, you got to make everything.
0:12.0	You got all your weight on that.
0:13.0	You know what I'm saying? To your point, that's got to do everything.
0:16.0	It's got to pay your mortgage, got to pay your mortgage,
0:18.0	it's got pay your car breakdowns. It's got to pay vacation.
0:21.9	Like that one stream,
0:23.1	got to take care of everything.
0:25.0	It's like, bro, that's too much pressure.
0:27.3	You got phone cars hanging on one.
0:30.3	It's like, bro, that's a lot.
0:31.6	But to your point, the pillars,
0:33.3	so I'm saying,
0:34.9	I should have said multiple streams of income, but I was telling people back in
0:38.7	the day, you want to give yourself enough time where if you lose something, you got a year or two,
0:45.8	you got a year or two or three.
0:47.6	Yeah.
0:48.0	Where, you know what I'm saying?
0:49.4	Like, we talk about stress.
0:51.6	I don't know that the stress is the news.
0:57.0	The stress is you aren't prepared. The stress ain't the news.
	...

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