RECESSION: The 3 Ways To BUILD WEALTH In A Once In A Lifetime OPPORTUNITY!
Tom Bilyeu's Impact Theory
Impact Theory
4.7 • 5.2K Ratings
🗓️ 28 July 2022
⏱️ 82 minutes
🧾️ Download transcript
Summary
https://impacttheory.krtra.com/t/m0DG5rFzTplF
KEEP UP with Kyzen: https://impacttheory.krtra.com/t/WKuJy3Y1vbXc
On Today's Episode:
With U.S. inflation rates being reported over 9%, having the knowledge and strategy to be prepared and survive the next recession is a must! There are elements that make the times we are living through feel unique, but cycles repeat whether they are economic or dysfunctional family cycles.
If you’re struggling financially to keep up with inflation, just lost your job, or you’re trying to figure how to do more than survive these uncertain times, this video is for you.
In this episode, Ramit Sethi, the Wallstreet Trapper, and Russel Brunson layout 3 ways you can prepare for the upcoming recession. Get tips for how to manage and automate your finances, and several other bonus gems that hold the potential to change your life forever, if you’re ready to get to work.
“Victory however long and hard the road may be…” -Winston Churchill
Ramit Sethi is an entrepreneur, personal finance advisor, and NY Times bestselling author. Check out the full episode with Ramit Sethi, Everything You’ve Been Told About Money is Wrong: https://youtu.be/uSgY_PxL_Zo
Wallstreet Trapper is an entrepreneur known for educating people how to build wealth, buy equity and invest in stocks. Catch the Wallstreet Trapper’s full episode, The 1% Do This to Get Rich: https://youtu.be/TXNFLgl3Y1c
Russell Brunson is a serial entrepreneur, NY Times bestselling author, and the man behind the infamous ClickFunnels. Watch Russell’s full episode, How to Survive a Severe Economic Downturn: https://youtu.be/DBQQFrUx7wc
SHOW NOTES:
0:00 | Introduction Protect & Compound Wealth
26:05 | Learn & Get Ready to Buy Equity
45:33 | Survive Any Downturn
QUOTES:
“Investing is not about excitement. You want excitement? Get a dog, [...] investing is boring, it’s like watching concrete dry, and it should be.” Ramit Sethi [10:49]
“The best investors are humble.” Ramit Sethi [13:39]
“Most people would rather pay $250,000 in hidden fees than pay $10,000 out of their pocket.” Ramit Sethi [25:30]
“It's hard for people to make sacrifice, because you gotta now go against and do without some of the things that gives you that momentary gratification.” Wallstreet Trapper [28:34]
“You gotta start somewhere, you gotta make the game winnable…” Wallstreet Trapper [31:24]
“The key to wealth is through ownership.” Wallstreet Trapper [33:18]
“You can’t work your way to wealth, you gotta invest your way there.” Wallstreet Trapper [33:57]
“The companies that are going to survive and be nimble are the ones that understand how to shift their messaging…” Russell Brunson [52:40]
“The money you make will be in direct relation to how simple you make somebody else’s process.” Russell Brunson [57:16]
“The most valuable person in any company is the person who, [...] can make it rain, who can bring people in.” Russell Brunson [1:02:17]
Follow Ramit Sethi:
Website: https://www.iwillteachyoutoberich.com/
Podcast: https://www.iwillteachyoutoberich.com/podcast/
Instagram: https://www.instagram.com/ramit/
Twitter: https://twitter.com/ramit
Follow Wallstreet Trapper:
Website: https://www.wallstreettrapper.com/
Twitter: https://twitter.com/Wallstreet504
YouTube: https://www.youtube.com/channel/UCR6hXiWOlFWc46qMFMClKHA
Instagram: https://www.instagram.com/wall_street_trapper/
Follow Russell Brunson:
Website: https://www.russellbrunson.com/hi
YouTube: https://www.youtube.com/c/FunnelHackerTV
Instagram: https://www.instagram.com/russellbrunson/
Transcript
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| 1:08.5 | Do you think that we're living through a unique moment right now or are people just confused |
| 1:13.5 | by something and really it's all the same? It's definitely a different situation if you think about |
| 1:19.7 | where we were in 1999, 2000 with the tech boom, 2008, 2009 with the housing bubble. |
| 1:27.2 | And now people will look back at this time as well. So we have super low interest rates. |
| 1:32.6 | We have a bunch of people on Reddit moving markets. Literally they shut an investment firm down. |
| 1:40.0 | We have crypto making huge news up and down. And we also have a lot of people with changing jobs. |
| 1:49.2 | So what does it mean for the average person? |
| 1:54.2 | Most good advice doesn't change over time. So should you be saving and automatically investing? |
| 1:59.6 | Yes. Should you be thinking about the long term and choosing low cost investments? |
| 2:04.3 | Yes, of course. Low cost means low fees. Low fees, yeah. Yeah. So for example, a lot of people don't |
| 2:09.2 | know this. But anybody watching, if you go ask your parents this, you're going to have a very |
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