Welcome to Radical Personal Finance to Show dedicated to providing you with the knowledge, skills, insight, and encouragement you need, to live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less.

My name is Joshua, I am your host, today, the online of today's show does not

come from my own head, rather it comes from a client of mine who sent it on to me and said,

Joshua, I think you should do a show on my five possible scenarios

of the future.

And so, of course, I worked with him,

he chaired with me the five shows before,

but I had him send him over to me

and I said, yes yes this is a useful

concept now this client is a as an experienced and and effective businessman wealthy

has built his businesses starting with nothing but basically nothing

self-made man saved his money built his business has done well and he shared with me

that this is the way that he categorizes information he this is the way that he categorizes information.

This is the way that he categorizes the potential scenarios of the future.

And I think it's really useful because it is humans, we need to categorize things.

You can't face everything and assign the same importance to it to all things and there's a major problem

When people do this you can't assign the same probability to all things I'll expand in a moment first let's go through the five possible scenarios. If you're

thinking about the future you can plan and predict that the future will fall

into one of these five possible scenarios. Number one, the future will be about the same as the present or

maybe a little better. Again, scenario number one, the future will be about the same as the

present or maybe a little bit better

Number two the future will be similar to a recession again Similar to a recession again similar to a recession number three similar to a depression the future

...