In this video we will cover six key steps that you should consider taking in order to live comfortably during a recession. Since the Articles of Confederation in the late 1700s, the United States has experienced over 40 economic recessions! Some recessions can be much worse than others (ex: Great Depression when the U.S. unemployment was 25% yikes!). Taking these six steps into consideration now could help you fare much better in the event of another recession in the coming years.
If you are looking for some budgeting spreadsheets: https://www.nerdwallet.com/blog/finance/free-budget-spreadsheets-templates/
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Cool video man! Let’s keep our fingers crossed that the recession isn’t too soon! I have to pay down my college debt haha
Mike O’Brien
Oh it os soon. Hope you are in a better position now. 50% chance the recession starts this year.
What about hedging against a recession. Either in physical gold or silver, or gold and silver stocks. Doesn’t need to be a lot but a small margin would do some wonders
Interesting idea. I have thought about this one extensively. Precious metal prices tend to rise with economic fears. This could be an interesting move but I wouldn’t make it too large of a bet
I don’t have a large portfolio yet but I am looking for a goldminer in the next weeks. I have heard countless tinfoil hat people saying the end is coming others say within 1 or 2 years. At the end of the day you just want some protection if a currency falls. I am thinking of a 5% hedge on my total portfolio.
recessions aren’t really natural phenomena. They are a result of central banks manipulating interest rates and expanding credit, which creates business cycles.
Exactly
Thanks for this
Hey thanks for watching Travis!
Where are the links to the spreadsheet? :))
Thanks for this video Nate. Its always best to prepare for these financial disasters since we dont know exactly when they can happen!
Exactly!
Nate it would be so awesome if you could put all your numbered points in your thumbnail 🙂
#6 absolutely. You nailed it with not TIMING the market, but shifting your investments based on market conditions is key. Nice Nate!
Thanks for watching Brandon!
Except shifting investments based on market conditions is also market timing, tactical asset allocation is just its fancy disguise.
Is it just me or is your lens dirty? I thought it was my tv lol.
Hmm… anyone else think it’s dirty??? I’m not sure
Not sure if this is what he is referring too, but for some reason when I went to watch this video it loaded in the very bottom quality. Which is unusual. It made you look a bit smudged and pixelated. Enjoyed the video, great content!
Yes bottom left
Great content! Always good to be prepared. Number one rule of investing is don’t lose money!
Very true! Thanks for watching!
awsome video
Thanks for always watching Daniel!
Great advice Nate!
Thanks you Jakob!
Thank you Nate 🙂
Hey thanks for watching Diana!!
I so remember 2008, we lost our house that year. What goes up, must come down. Knowledge is power, buy when the market is down. Great video Nate :))
Wow that is very scary! You live and you learn! Thanks for watching Lena!
Definitely no fun, but yes, we lived and learned and now at a new page in our lives :)))
So I should buy shares and stocks during a recession, so when the economy gets better I get huge returns?🤔
Great advice Nate! Completely agree, I think understanding your budget and cash flow is so important. We need to control our money so money doesn’t control us 😉
Also invest in stocks
Are you joking???
Recession is coming.
love the videos
Thanks for watching all of my videos!
I save 25% of my income, where should I put it ?
XRP
@@danjackson2014 what’s that ?
Gold, not the best investment but the safest
after an emergency fund invest invest invest
Great vid but $6000 a month?? Where do i sign up? I need that. You say it so casually as if its the norm Haha
Also 5 friends sounds good to 🤣😂
6k per month? Pshht. I wish. My entire life has been a recession. I can’t pay off my debts. If this guy can’t predict a recession..how can he tell us to prepare?
recessions are endemic to capitalism
and as of today, we’ve just entered officially the bear market
The fed ironically through quantitative easing and interest rate manipulation is not actually making economic development linear, it is causing these major recessions. After each small recession interest rates are artificially lowered (as if scarcity is abolished) and bad economic actors are bailed out and rewarded causing each following crash to be larger than the last.
Thank you
just 1 thing real quick… a recession its not natural.
sure but they always find a way to happen huh
No banks ,no cd’s, no bonds, no nothing, keep it where you can have access to it when you needed.Don’t play into poncy schemes.
11:46 Best part. The reason I clicked. Question answered: Don’t try to time or hide from a recession.
Credit creates recessions. If people could only spend what they earn then they would work harder to get ahead. Borrowing money from the future above what you can earn is the problem
I hope people see this… just got the warning yesterday about an incoming recession
Who told you?
did someone draw on the wall?
an awesome web site is *hOmepay .me* . it will let you to make capital money remotely and easy tasks.
absolutely Rightful
magical and Competent
Guys that is Adept
Watching this in 2020 like…
I want to start investing. Any short courses that i can take?