what is up YouTube family in this video
we're gonna be talking about how to
prepare for an economic collapse right a
market collapse because everybody who's
been around for a while knows that what
goes up must come down
just ask Bitcoin but really though while
I drowned in my tears counting all of my
Bitcoin losses I want to prepare you
guys with the top 5 things you need to
know if the market were to crash and how
to best prepare yourself stay tuned
[Music]
alright guys we're gonna jump right into
five and then work our way all the way
down to the number one most important
thing that you need to do to be prepared
if the market is going to collapse
because anybody who's been around for a
while knows that we've had nine straight
consecutive years of a positive market
and so eventually right I'm not saying
it's gonna happen right now but
eventually in the near future we are
going to have a market downturn and the
smart people are going to be prepared
and the dumb people are just going to
invest everything into the market
thinking it's gonna go up forever but
not actually be cognizant of history and
understanding that eventually as a
market goes up for enough consecutive
years it has to drop back down and level
out a bit number five starts with being
aware of trends right if you do follow
the market if you do follow the stock
market you know that for the last nine
consecutive years we've had a positive
trending market what this means is in
the most basic sense that eventually we
are going to have a market crash and you
know if you just use common sense the
more years in a row that you have a net
positive return from the stock market
that means that you're getting closer
and closer and closer for that
correction right it's just how the stock
market works it's inevitable if you look
through history for long periods of a
positive net positive return on the
stock market eventually there was a
downturn right there's bull markets and
there's bear markets and you need to be
aware that there's both and you need to
be prepared for if we have such a long
you know bull market such a long bull
rush where we're getting more and more
and more net gains and net positive
returns on the stock market that means
that you're just getting closer and
closer and closer to the inevitable
correction and what that means is you
want to be prepared for when that
happens and how you're going to be
prepared is listening to the next four
tips tip number four is understanding
your risk tolerance right if you have a
drastically different risk tolerance if
you're a 45 year old with you know a
family of four and everyone's depending
on you as the sole source of income
versus you know a 29 year old handsome
young stud with no responsibilities you
know no pets even no family to support
and you know has disposable cash to
actually start investing those people
have drastically different risk
portfolios and risk tolerances which
means that one person probably has to be
a lot more concern
and diversified when it comes to
investing right it means that they're
probably going to have a little bit less
returns than somebody who's able to take
much larger risks you know like yoloing
all-in on AMD call options for example
and that's a shout out actually to my
Wall Street bets fans on reddit which is
you know gonna be an inside joke and not
everyone's gonna get that but shut me
out in the comments if you do browse
reddit and you do look at the subreddit
Wall Street bets but my point is guys if
you're a 29 year old with a bunch of
extra money or you're a 45 year old who
has a family to support you know not a
lot of disposable income or much savings
you have to invest in different way so
be cognizant of your risk tolerance and
then make decisions about what you're
gonna invest in based on that right you
don't want to invest in penny stocks for
example if you have you know four mouths
to feed
versus you know maybe it's okay for
tibetan dollars on a penny stock if you
think that it is gonna go up you know a
hundred times or something like that or
you just enjoy gambling or things like
that just the point is guys be cognizant
of what your risk tolerance is and then
make decisions based off of that
regarding your investment tip number
three is you can keep your money in cash
and you hear people all the time say
that you know never keep your money in
cash you always want to be invested in
the market you always want to be
invested in the market and for the most
part that is true right but you don't
want to be invested in the market if
it's going to go crashing down right and
there's nothing wrong with holding your
money in cash if you think that
impending crash is coming soon right and
with nine consecutive years of you know
net positive returns from the stock
market it is inevitable that the market
is going to come and correct itself you
know sooner rather than later and
holding your money in cash is not the
worst thing in the world yes you're not
necessarily gonna make you know the
eight to ten percent return that you
know is kind of expected from you know a
net positive year on the stock market
but you can make a two percent return a
lot of people don't know this but you
can use banks like Ally for example that
give you a two percent return in their
savings account these banks don't have
physical locations and so they're able
to give you a much higher yield and
interest return on your savings accounts
than traditional large banks like Chase
are for example because they have so
many more expenses so if you leave your
money in an ally savings account you can
earn two percent which isn't that
different from you know what you expect
from a net positive return your on the
market at eight percent you know just in
singing into an index fund for example
and another benefit of keeping your
money in cash if you think the market is
going to crash in the near future is
that when the market crashes this is
when everything goes on sale right it's
so important to remember this isn't one
of the most important things in the
entire video when the market crashes
everything goes on sale
that means houses go on sale right you
can get houses in premium locations for
you know pennies on the dollar relative
to what they cost when the economy is
booming because people get caught up
right people leveraged themselves people
have multiple mortgage payments and they
get forced to buy their banks for
example to sell for significant losses
and that's when you can come in and you
can buy that same property at a
significant discount this thing the same
thing holds true for cars the same thing
holds true for houses apartment
buildings you know for businesses for
all types of things when the market
crashes right when the economy crashes
people get over leveraged and they're
forced to by their finance ears they're
forced by their banks or you know they
just need to cash themselves and they
sell things at a significantly
discounted price and that's when if you
have cash and you can come in that's
when people really get rich right the
people who understand that during
collapses and during economic recessions
things go on sale and that the market
always corrects itself right the market
always corrects itself and the market
always will eventually go back up but
you need to remember and have the
ironclad brain to actually know that the
market is eventually going to correct
itself things will be okay no matter
what the news is constantly saying right
the market will turn around it will go
back up and you need to buy as many you
know intelligent investments make as
many intelligent investments into houses
and the cars and the things that you
know you can sell for a significant gain
once the market does correct itself so
tip number three is keep your money in
cash if you think that the market is
going to come crashing down in the near
future
alright guys tip number two is
specialize and what I mean by this is
become an expert right if you're an
amateur or if you're a general person
right you're not really good at any
particular thing you're just kind of an
average employee those are the first
people that business is cut right if
they don't need you if you're not an
expert they are going to cut you when
the market crashes when the economy
comes crashing down so what you want to
do is you want to specialize so instead
of getting you know average at Google
ads and YouTube ads and Facebook ads and
Instagram ads in snapchat ads what you'd
rather do is become
specialist right become an expert in the
number one most valuable skill you know
in that case which would be Facebook ads
for example in a metaphor that I like to
use to kind of illustrate this is a
brain surgeon versus you know just a
general practitioner a brain surgeon
gets paid probably 25 times more than
just a general practitioner I mean they
go to school for you know similar
amounts of time obviously the brain
surgeon goes for more but they literally
get paid 25 times more often to work
fewer hours right and kind of make their
own schedule and there you know regarded
higher in the you know the medical
community so you always always always
want to become an expert right focus on
one thing go deep rather than going
shallow right instead of being okay at a
lot of things go deep on one thing and
become an expert and then when the
market does inevitably come crashing
down and the economy comes crashing down
you will be okay right you won't be the
ones who are getting laid off if you are
an expert and if you're thinking
yourself with Kevin I'm not an expert
right now remember that experts and
people who are not experts both have 24
hours in the day so you can start and
make a commitment to yourself right now
to become an expert you just have to
think to yourself okay what is gonna be
the most valuable skill if the market
does come crashing down and then learn
that right and then what you want to do
is become an expert and when you're an
expert you don't get laid off because
experts are always needed in companies
especially experts at things that make
those companies money all right guys I'm
tip number one we're gonna get to in a
second but really quickly I want to give
a shout out to our daily comment winner
what we do is we choose our favorite
comment every single day and we give you
a shout out right here I'm and feature
you on this video so if you want to be
our next comment winner and get featured
in tomorrow's video all you have to do
is leave me a comment down below letting
me know how you are gonna prepare for
the market crash what are the things
that you do right or you go out and buy
a bunch of water and store it in your in
your basement or do you buy specific
stocks or what are your investment
strategies how do you prepare yourself
so tip number one guys is diversify your
income streams right rich people
understand that when everything's going
great and everything's amazing and
you're making all this money and the
economy is booming right that is when
you want to diversify and create
additional streams of income not when
everything is coming crashing down right
when the economy comes crashing down and
you know you get fired from your job and
you you have bills to pay and things
like
that's the worst time to actually start
you know thinking about earning
additional streams of income because
you're under pressure you're stressed
out right you have worries you have
bills people are you know constantly
asking you for stuff because they're
also struggling and so you know what you
want to do and what rich people
understand is when things are going
great that's when you prepare for the
worst right that's when you actually go
out and start finding additional streams
of income that's when you starts to tell
yourself okay maybe I should start an
Amazon business on the side so I can
start earning some income maybe I should
start an SM MA right maybe I should
start a YouTube channel
maybe I should create a digital course
right that is when you want to be
cognizant of the fact that things could
go wrong right when things are amazing
rich people prepare for the worst
when things are amazing poor people
don't prepare for the worst and then
when things come crashing down
rich people are perfectly okay right
because they've already prepared for
that and they've thought ahead and poor
people didn't prepare for anything right
and they become desperate and that's
when things really spiral out of control
and that's not a place that you want to
be so tip number one guys is prepare for
the worst and the way that you do that
is by diversifying and adding a new
streams of income while things are going
great and while the economy is booming
like it is right now so if you guys
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until next time guys happy hustling and
happy investing
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