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Afford Anything | Make Smart Money Choices

PSA Thursday: How Can I End 2020 in a Stronger Position Than I Started It?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 14 May 2020

⏱️ 31 minutes

🧾️ Download transcript

Summary

How can you find business and investment opportunities in today’s tough pandemic bear market? What should you do to emerge from 2020 stronger than you started? We cover 7 specific, immediate actions that can set you up to succeed in this recession. Here's a peek: think about hiring a team, create an original piece of work, take online classes, and keep your plans intact (even if that means quitting an unfulfilling job).   For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Welcome to PSA Thursday. This is a weekly bonus segment of the Affordable Care Podcast

0:04.6

in which we talk about how to handle your money, your work, and your life during a pandemic.

0:10.0

How can you come out of this stronger than when you went into it?

0:13.9

That's the question we are going to address today. My name is Paula Pant. I'm the host

0:17.4

of the Affordable Care Podcast and to kick off today's episode, I'd like to play for

0:21.3

you a question that comes from a member of our community and that many of you might be

0:26.3

able to relate to. Here it is.

0:29.5

Hi Paula. I have a question for you about how to best position myself in the changing

0:36.3

economy. So a little bit about my situation. I graduated from college in 2010, which as

0:44.4

well known is shortly after our big economic recession. It was a really hard time to enter

0:50.7

the working world. I felt like my focus was on getting a job. And even though I could

0:55.9

see that there were great incentives for buying a house at that time, I just wasn't

1:00.0

in a position to take advantage of any of them. And so my personal career has grown along

1:05.7

with the economy. Even though now I have a stable job and income and savings, the cost

1:11.8

of things is significantly higher. So I look at the houses that I would like to buy and

1:16.2

they all seem pretty much more than I feel comfortable paying for. And so I know that

1:22.1

I've had a talk with friends at different times and we're like, man, wouldn't it be

1:25.8

great if the economy just had like a little bit of a dip. Then we could take some of this

1:30.2

money that we've been saving and working hard for and putting it into investments that

1:34.6

yield decent rates of return. It seems like this is the time. It's happening. And I just

1:40.4

want to make sure that I'm making wise choices and doing things as best as I can to, I guess,

1:47.2

optimize as things are a little chaotic and unpredictable. Do you have any thoughts

...

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