Welcome to How To Money. I'm Joel and I am Matt and today we're discussing what to do when markets decline.

Tokyo

Yeah. Jo Markis declining. It is inevitable, right? It's not a matter of if that happens.

But it's more of a matter of when that happens. So during this episode, we're going to talk about some things that we can do before that happens.

We're going to talk about how to respond to those changes as they're happening in regards to our investments, but not just our investments, our personal finances as well.

We're going to cover a variety of little topics here. Yeah. When Markis declined, it has far ranging impacts and not just on how much money you have in your investment portfolio,

but it has wide ranging economic impacts. And so there's all sorts of things we have to take into consideration when markets do decline.

And so yeah, we're going to get into a bunch of that today.

Andy, but before we do, let's talk about Airbnb because it has been a minute. If your memory was episode 137, that's when we kind of announced that I had my Airbnb up and running.

And it had been going for a couple of months at that point. And even before that, was it episode three that we talked about, like, should we host an Airbnb?

We've been talking about it for a long time now. Right back in the day. Well, a reason I think we've been fascinated with Airbnb is because some of the appeal of it is that it's a way to make some money on the side with something potentially.

That you already have right if you have the space in your home, but specifically one of the ways that is different from these different gigs like driving for lift or Uber is that it's something that you can do without much time or effort put into it.

Right completely. Well, turns out that's not the case.

And so we had our Airbnb up and running for, you know, for a lot of last year. And I tell you what dude, I really enjoyed it. I really enjoyed getting to meet all the different folks.

I get inviting folks into the space in our home that we had specially set up for them. You basically playing host.

Yeah, drinking alcohol in the front lawn with people at an ungodly hour in the morning. Well, that happened one time. And it was when they're leaving.

And do you want to me to have a taste of the special decor from the sky? I think of Scotland. It wasn't a squash, but it was from Scotland.

That will be one of the more memorable moments as an Airbnb host. But as much fun as all that was, it still took a lot more time than we realized starting with communicating digitally with folks.

We can get handled all of that. But to meeting them in person, showing them the space all the way to flipping the space and cleaning it.

It was more like a part time job, which is not what we were hoping for. We were hoping that it would end up being something a little more hands off. And yeah, that just wasn't the case for us.

Yeah, you're really getting into kind of the hospitality industry. It seems from the outside looking in just completely different than a full time annual lease sort of rental that we are typically set up on.

You're like charting new territory, getting into new waters with the Airbnb. And yeah, it did seem to suck up a lot more of your time than you thought it would.

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