920: The Current Challenges and What's Next...
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 21 March 2023
⏱️ 4 minutes
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Transcript
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| 0:00.0 | Welcome to Radical Personal Finance. I have been working over the last week to record a podcast |
| 0:05.0 | on, among other things, bank failures, SVB, credit suites, inflation, Fed, etc. And |
| 0:15.2 | although I've hit record multiple times and recorded probably at this point around four hours |
| 0:19.3 | of audio, I've deleted all of it because I just feel like I'm saying the same thing over and over |
| 0:25.5 | again. So here's your short and sweet podcast. Number one, I have shared with you in the archives |
| 0:30.8 | of Radical Personal Finance everything I know of to protect yourself and to be prepared to win |
| 0:37.7 | when times are going well and to be prepared to be protected when times are going poorly. |
| 0:42.4 | As far as I can tell, the principles that I have espoused, primarily maintaining an income by |
| 0:49.7 | being a leader in your field, focusing on being at the top of your career because those who |
| 0:54.4 | maintain an income through any financial crisis are always just fine. Mix that with good sound |
| 1:00.4 | prudent financial planning in your personal affairs, keeping your expenses far lower than your |
| 1:05.5 | income, avoiding debt that's not tied to productive assets, maintaining a significant cash percentage |
| 1:12.2 | to protect yourself, having well thought out, diversified investments, kind of along a barbell |
| 1:18.6 | strategy where you're positioned to win from big picture alternative investments, but most of your |
| 1:24.0 | investments are well positioned in the boring conservative stuff, making sure that if times go |
| 1:31.2 | crazy, you're well protected with good physical preparedness, making sure you've got an escape plan, |
| 1:36.4 | www.internationalscapeplan.com, the ability to go to wherever in the world the best income |
| 1:42.6 | opportunities are or the best investment opportunities are having multiple citizenship, multiple |
| 1:46.9 | residencies, banking in multiple countries, making sure that you're well squared away if you ever |
| 1:52.1 | had to leave your country. As far as I can tell, I don't have anything new to say on the subject. |
| 1:58.2 | Combine that with the general fact that I expect primarily from the arguments from the great |
| 2:03.2 | George Friedman book called The Storm Before The Calm. I expect the 2020s and possibly the 2030s |
... |
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