716-How to Profit From a Recession
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 7 April 2020
⏱️ 85 minutes
🧾️ Download transcript
Summary
We're in a recession. It hasn't been "officially" acknowledged yet, but it certainly will be.
So let's talk about how you can profit from this situation.
With the right attitude and the right decisions, you can come out of this difficult time positioned for greater and greater success.
Let's talk about how.
Joshua
Transcript
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| 0:00.0 | Welcome to Radical Personal Finance, the show Dedicated |
| 0:03.4 | Providing You With The Knowledge, Skills, Insight, and Encouragement |
| 0:06.7 | You Need, to live a rich and meaningful life now, |
| 0:09.5 | while building a plan for financial freedom in 10 years or less. Today in the show we're going to |
| 0:13.6 | talk about how to profit from recession. We are right now in the beginning of |
| 0:20.4 | a significant recession. Hopefully it's just a recession. |
| 0:24.0 | Hopefully we don't have to talk about how to profit from a depression, |
| 0:26.0 | although the basic concepts are going to be the same. |
| 0:29.0 | But we're going to talk today about how to profit from a recession. |
| 0:31.0 | And I want to start to get you thinking about opportunity. a to improve your life, your business, to improve your income, to improve your |
| 0:45.2 | investments. There's always ways to improve every single part of your life. |
| 0:49.7 | And it's important that you always look for the opportunity in the middle of difficulty. |
| 0:54.8 | If you look for the opportunity in the middle of difficulty, you will often find it. |
| 1:01.2 | Whereas if you don't look for it and you just succumb to the difficulty, you will often just find nothing but bleak gray clouds all around. |
| 1:11.0 | Every setback is an opportunity for improvement. Every failure provides you with an opportunity for |
| 1:18.0 | improvement. Every single one. |
| 1:27.8 | Now that sounds just like some kind of platitude that you would stick on a card somewhere, but it's really true. |
| 1:33.5 | Every setback, every failure provides you with an opportunity for improvement. One of my favorite sayings, as trite as it may sound to you, |
| 1:36.0 | it's real to me. |
| 1:37.4 | Sometimes you win, sometimes you learn. Sometimes you learn. |
| 1:42.7 | Sometimes you win. |
| 1:44.2 | Sometimes you learn. |
... |
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