How I’m Preparing For The 2020 Recession 🤑 #Best Education Page #Online Earning

hey everyone this is Stefan James from

project life mastery and today I'm going

to share with you what I'm doing to

prepare for the next recession now over

the last few years has been a lot of

speculation that a recession is coming

the market is going to crash the bubble

is going to burst and it's not a matter

of if it's a matter of when

now when nobody knows for sure there's a

lot of speculation that there could be a

recession in 2020 2021 2022 nobody knows

for sure and nobody quite knows the

extent of it how intense it will be if

it'll be worse or more intense or less

intense than it was back in 2008 but if

you look at history if you look at the

US economy over the last century on

average every 10 years there's been a

recession every year or so there's a

correction in the market where it drops

up to 10% you can look at the cycles for

a history for that that's fairly

predictable but a recession is something

that typically has happened every 10

years or so where the market drops more

than 10 percent and the last time we had

a recession in the United States was

back in 2008 so we're due for one it's

been over 10 years now and that's why

there's a lot of speculation among many

other factors that economists and

investors and analysts look at that is

going to contribute to a recession not

just within the United States but

globally it's gonna fit Canada Europe

it's gonna affect the entire world so if

you look at Warren Buffett Ray Dalio the

top investors out there they all

speculate the recessions coming if you

look at the top financial teachers out

there such as Robert Kiyosaki who I had

a chance to interview on my youtube

channel to Tony Robbins who I just

opportunity to spend time with in Fiji

Etta's resorts all the top people out

there you might see on YouTube they're

talking about a recession coming so if a

recession is coming ok if something is

going to happen that it's gonna affect

all of us it's going to affect your

livelihood your career your business or

finances your future then we want to

make sure we're prepared for it because

I believe if you're prepared for a

recession yes it's gonna it's gonna

cause a lot of challenges in our lives a

lot of people their net worth is gonna

drop and diminish who knows how much it

could be 50% a lot of people gonna lose

lose their whole life savings like

lose their job in their career their

business can drop and suffer they could

go out of business there's a lot of

negative things that can happen when

there is a recession a lot of people

suffer and affected by it but I believe

that it can also be the greatest

opportunity for us if we are prepared we

don't have to be a victim of these

events occurring in our lives we can be

a victor we can take advantage of these

opportunities because in every time that

there is a recession there's an

opportunity if you're prepared for it if

you know how to invest your money if you

have a business if you have the right

mindset and the right approach to things

and I believe that if 2008 happen again

and you're prepared for it you could

have bought a lot of these companies and

stocks in the stock market for example

or even real estate and you could be so

much further ahead through the recovery

that occurred after that in 2008 then

then you would if you didn't take

advantage of it so I look at the

opportunity of it I look at my mindset

is if there is a recession which I'm

speculating and predicting that there

will be I just don't know when then I

want to make sure that I'm in the best

position possible to take advantage of

that so I can get further ahead in my

life it doesn't have to be something

that negatively affects my finances my

net worth it cetera so I want to share a

few a few things that I'm doing I think

these are things that could help and

benefit you regardless of where you are

right now I'm in a bit of a different

position as some of you might be I'm an

active investor I have a multi-million

dollar investment portfolio and a

multi-million dollar online business and

so for me a recession is going to hurt

me

it's gonna affect me in a lot of

negative ways I speculate and think

about how my business will be affected

by it how my investment portfolio will

be invested by it as well but for you

you might not have a business you might

not have investments you might have a

job and in that case you've got to think

about okay well what if I lose my job

what if my company that I work for is

not making as much money and they have

to lay people off right or maybe you do

have some investments or maybe you're

young or maybe you're older because

depending where you are there's gonna be

a different approach so it's kind of

hard for me to give you a

one-size-fits-all there's a few things I

can share with you in this video that

will be universal I think can apply to

everybody but there are certain

circumstances where some of the advice

that I give might not fully apply to you

for example

if you're you know 60 years old and

you're approaching retirements you know

you don't have as much time as someone

like myself or maybe some of the other

viewers here that are in their 20s and

30s and 40s you know if you need the

money then obviously a recession is

gonna really hurt you if you depend on

that for your livelihood in retirement

so there's certain approaches that are

different based on where you are okay

but let me share with you what I'm doing

and there's pieces from this that I

think that you can take and apply to

yourself the first thing that I always

start with just like with any goal any

dream any anything I want to pursue in

my life I always understand that 80% is

always your psychology and your mindset

there's a mental and emotional component

that we got to cultivate that will allow

us to withstand the hard times to get

through the winters of life because most

often the hard times the winters that

weeds out the weak

it's the though those that have the

right mindset that the grit the mental

fortitude that can withstand the

challenges and take advantage of it

so first and foremost I always want to

make sure that my mindset is strong that

I have the mindset of okay you know what

if hits the fan if my business

crashes if the economy crashes if I have

less customers make less money my

investment portfolio drops what can I do

to mentally prepare myself for that okay

what can I do mentally to make sure that

when that happens it's not like a big

surprise and I've done certain things

and put certain measures in place that I

can get through the other side of that

that I could withstand it and sometimes

for example if there are hard times it's

not like you can benefit right away from

it most often it's the long-term

thinking and horizon that I always take

on as a mindset so in the short term yes

I go into things thinking yes in the

short term I'm gonna get hurts I'm gonna

lose money I'm gonna lose customers

maybe again I'm just a ting preparing

mentally for that I think that we should

expect the best but prepare for the

worst right so I expect the best at all

times I got a very optimistic attitude

and mindset but I also prepare for the

worst-case scenario that can occur and

that often helps me to go into these

things just as prepared and comfortable

and confident as I can because here

this is what gets a lot of people in

trouble is when they don't have a strong

mindset and the economy drops they lose

their job all these things happen they

go into depression they get anxiety and

stress they get fearful most often they

sell their investments they they have a

very pessimistic attitude and outlook

and they don't think that things are

going to get better for them and so

often when you have that mindset in my

opinion that's when you make the worst

mistakes but if you have the patience to

withstand it

if you don't panic when these things

happen so if you have stocks or

investments and you're fearful and you

panic and you sell it all well now you

lost a lot of your investment because

the worst time to sell or when things

are low but if you can withstand that

with the right mindset and the patience

to understand that things will get

better

and to trust in the investments that

you've made then you can come out of

that much better than you were before in

fact if you bought stock when things

dropped at the lowest point and you look

at things recovering and you're not

fearful and panicking and you can make

those emotional decisions then again you

can come out the other side and it's so

much of a better position so mindset is

always the first piece I always take on

a long-term mindset long term horizon

that that whatever happens if I look at

history things have always recovered and

things always recover better than ever

if I look at 2008 if I had the right

mindset back then and knew what I know

now about investing and all that I could

have taken advantage of that a lot more

now it's easy to say that in hindsight

of course but when I look at it for

example you know if I had a Bank of

America stock let's say you know and it

dropped and crashed the way that it did

a lot of investors a lot of people they

panic they freaked out and they sell

they lose their money versus someone

that has the right mindset of an

optimistic attitude that it's going to

recover they have confidence they're

emotionally even they can invest in Bank

of America and sure enough could have

made a fortune from that so for me it's

the opportunity mindset it's that

mindset of long-term thinking it's not

getting caught up in the short-term

losses and how that affects my life but

it's preparing as much as I can mentally

and emotionally and I think one of the

best ways to do that is always be

improving yourself work on yourself

every day have a morning ritual that you

do to put yourself in a strong powerful

confident state learn and cultivate new

skills because when you cultivate skills

and gain experience whether it's in

business or marketing or skills that are

always in high demand you don't have

that same fear and then anxiety that a

lot of other people do for example if

you have a job and you know you're so

dependent on that job but you don't

really have many skills outside of that

if you lose our job now you're in a

tough position for example because now

you're fearful that you can ever get

another job and that's very challenging

but if you have skills you have

confidence you know that you can always

find a new job you know that you have

skills that are useful and valuable will

always be in high demand so if you learn

for example skills of marketing and and

business and things that can help

businesses grow you have an advantage

that most likely you will be the least

likely to lose your job for example

because you have a skill set that's so

in demand and valuable most often

companies lay off all these other

positions that don't contribute as much

to the business but if you have these

skills and you lose your job you can

always find new jobs and new

opportunities that are out there because

of the skills you've gained that's why I

always say on my channel guys is not

what you get is who you become who you

become is the most valuable thing who

you become in thinking and mindset and

confidence and belief the skills and

talents that you develop the gifts that

you have that's the most valuable thing

you can take everything away from me or

anyone that has that mindset and they

can always get it back because the

mindset is the same there's a saying

that goes you can take all of the wealth

in the world and distribute it evenly

amongst everyone on this planet the

billions of people and in a matter of

years all of that wealth and money will

end up in the same hands because people

that have that mindset confidence they

hustle they grind they work hard they

work smart those people are always the

ones that will rise to the top that will

find ways to accumulate the money and

earn it over time so the mental

component I'm not going to talk too much

more about because I go into that a lot

on my channel here you can subscribe

here or browse around project life

mastery for more content on mindset I've

got a playlist that she goes more into

that but I want to talk more about what

I do with my money and how I plan and

allocate and manage that

so first thing I'm gonna say in business

okay business so if you have a job be

prepared you could lose your job

not that you would I pray that you don't

but you could so if that's the case how

do you prepare for that for me in my

business there could be a chance that my

business drops in sales maybe for

example if there's recession people are

losing their jobs people don't have as

much money to spend they're not going to

be consuming as much people in that

position they might not they might not

care for example to buy you know courses

that can help them improve their mindset

or improve their life they're just

trying to survive you know it's a

different mindset of the demographic of

people out there and so that could hurt

and affect my business so for me from a

business standpoint if you have one you

want to think about how your business

will be affected for me the things that

I do is I look at my marketing and how

I'd have to change the messaging of it

based on where people are at I might

have to change prices of my products if

I have to I might have to create new

products can better serve my market and

my followers of my community that can

better meet their needs based on where

they are I might have to diversify

things a little bit more you know I have

a very diversified business already I

have many different income streams and

that's what you want you want to have a

business as multiple pillars like a

Parthenon not not a one legged stool one

legged stool if your whole business is

depending on one product then something

happens to that product or out of

business you're gonna suffer but if you

have multiple products multiple streams

of income affiliate marketing Amazon

coaching events courses etc all these

different pillars you remove one or two

the structure still remains so the more

I diversify and mature my business and

mature these pillars the more they'll be

able to withstand the challenges that

will come so business I anticipate all

of that and then financially I also

think a lot about as well so in terms of

financially like I said I'm going to

investor in the stock market I have a

real real estate property as well but a

more prefer investing in stocks my

mindset I'll mention I have other videos

on investing on my channel but my mind

sets always long-term like I said and I

invest in mature blue-chip large-cap

stocks and companies and I'm very well

diversified across many different

sectors

my favorite investments are always index

funds ETFs exchange traded funds so for

example owning the S&P 500 which is the

top 500 companies in the United States

then that's very diversified in an index

that has very low fees and it mimics

basically the US economy so I like

investing in indexes and I always have

that long-term horizon of over 10 years

I never really look at making short-term

games in the stock market or through my

investments because I know I can get the

short-term gains in my business if you

have a business that's always the

easiest and fastest place for you to

earn short-term money I call that your

summer crop summer crop very easy to

make money from it you plant some seeds

and you're gonna see that summer crop in

a season but you use your business to

generate the cash flow or your job right

that's something you're doing every day

that you can generate the cash flow from

but you take that money and you plant

instead of summer crops you plant apple

trees apple trees are going to take

longer to to grow right you plant the

seeds it's going to take a lot longer

than a summer crop for it to build but

when it does build and it grows the

apple tree is more secure and stable and

it will be able to withstand the

challenges the ups and downs a lot more

so for me that's just a bit of my

mindset when it comes to investing is I

always take my money and I plant apple

trees I put some back in my business of

course but I also want to make sure

those apple trees or the long-term

stable investments so that's why I like

blue chip companies that's why I like

large cap stocks companies that are

gonna be around for many many years to

come ok so even though if they drop like

if I own the bank stocks for example I

own Bank of Montreal bacon Nova Scotia

Bank of America JPMorgan Chase Wells

Fargo I own all the bank stocks in the

US and Canada at least the biggest ones

all of those they could drop they will

drop of course if there's a recession

but they have a track record to be able

to recover from a recession so even if

all of those dropped I see that as an

opportunity for me to buy more stock

when that does happen because I know

that they will recover over a period of

time ok and i'll benefit from it and

even when they drop i you know

the bank stocks pay dividends as well so

you get dividend payouts every quarter

typically and so sure enough you're

still making money you can reinvest

those dividends when there is a crash or

recession like that so before I go into

the investing first thing I always make

sure I have is cash so more than 50% of

my net worth okay five zero fifty

percent is in cash the other half of it

is most often in other investments

mostly stocks and some REITs and some

bonds it's kind of spread and

diversified pretty well but I like to

hold a lot of cash this is one thing

that you can do to prepare for a

recession now I've always recommended in

my money management videos I have on my

channel that you should always make sure

you have at least three to six months of

your expenses put aside in savings

that's money that you never touch this

for a rainy day is for emergencies and

that's always the first thing you've got

to have you got to make sure that if you

did lose your job if my business did

suffer and I needed to pay my bills my

expenses I had emergencies that show

that show up I'm gonna make sure I have

a cash reserve that I could live off of

while you're looking for a new job while

I'm trying to fix this in my business

that if I can't pay myself as much I've

always got that cash and that that gives

you peace of mind it gives you a sense

of security so everyone has a different

threshold for risk and what they're

comfortable with but I look at up to six

months it's good enough if you have more

than that it could make sense to do that

but you're also now missing out on some

opportunities of what you can do with

that money now for me that's the first

thing I have now when it comes to

holding cash the reason why I hold a lot

of cash is because again I'm patient and

waiting for a recession to come or at

least market Corrections I like to wait

until there's a drop in the market so I

can buy more stock at a discounted price

and benefit from the upside from that

but I don't just always just hold the

cash and wait for that because sometimes

that doesn't come so for example let's

say over the last three years I've been

waiting for a recession hasn't come yet

and if I just sat on all this cash and I

didn't invest any of it then I would

have missed out on all this great gains

that we've had over the last few years

especially just over this last year

for me what I do is I keep a big cash

reserve okay that I'm patient with and

then when there are these little dips I

do buy okay even if it dips a little bit

I'm buying throughout the year so I'm

still benefiting from the upside and

growth but obviously I'm not benefitting

as much as I would if I put all of my

money into it but here's how I think

during a recession okay if you have a

hundred thousand dollars during the

recession when everything is dropped in

value you're a hundred thousand dollars

is now like worth four hundred thousand

dollars the buying power and the

spending power of it has increased so

it's just worth so much more there's

greater opportunity that you have with

that cash so yes it's hard at times

because I am missing out on gains I

could have but again I do invest as I go

throughout the years when there's drops

especially but I'm still holding a

majority of my money in cash now when it

comes to also holding cash the minimum

is you want to hold it in some sort of

interest bearing account so you want to

get something from the money from your

cash you don't want to get nothing from

it so at least getting interest so that

means that having that cash in a savings

account for example for me I have a lot

of it in brokerage accounts as well as

saving this accounts sometimes you can

get better savings interest rates

depending on different banks or

brokerage accounts but I usually get one

to two percent interest depending on the

currency that I hold and by the way

that's like on par with inflation

because I think inflation in the u.s. is

about 1.8 percent so I kind of look at

that as an offset I mean interests are

not really going to get rich from it

just kind of offsets inflation so that's

kind of how I look at that but at least

the interest helps with inflation the

other thing that I look at is well is I

look at having some of that money in

fixed income investments so fixed income

investments are our fairly low risk you

can lose some money on it others you're

not going to lose any money on so for

example if you're in the US it could be

a Treasury bill if you're in Canada

could be a GIC and pretty much what it

is is it's a fixed income with a bank

for example where you let's say give him

$10,000 and they guarantee you a higher

interest rate but you can't cash it some

of them are cacheable some of them

aren't but most often you get a better

interest rate or a better return if you

lock it

for a longer period of time now I like

more cacheable ones because I like the

flexibility if there is a recession

tomorrow I want to be able to take that

money and use it that's also why I don't

like to hold a lot in real estate

because real estate is hard to liquidate

it's hard to sell real estate you can't

just sell it on a dime like that stocks

index funds ETFs fixed incomes that are

cacheable redeemable you can get out of

that a lot easier and you have the

flexibility to invest in things if there

is a recession so I like having

flexibility with them but I do hold

fixed income investments I also own

bonds more government bonds which are

more secure than corporate bonds and

especially more secure than junk bonds

so bond like government bonds for

example I like to own index fund and by

the way I apologize if I'm going to

advance here you can tell very

passionate about this and I spend a lot

of time studying and you know been doing

this for many years now so some of this

might be a little I'll try to explain

things for you a little bit better but

you know when it comes to bonds

government bonds I like indexes again

because it's diversified and for the

most part government bonds or lower risk

because the government doesn't go out of

business the government is fairly secure

it's not going to collapse

at least in the United States government

other countries not so sure about versus

a corporate bond that's a loan for a

corporation they can default on the loan

the business is more likely to go out of

business than the government is so it's

more secured by a government bond versus

a corporate bond and a junk bond our

company is to have not as good credit

rating we're high risk companies you can

get higher returns from those junk bonds

but most of but they're higher risk as

well you know you could lose your money

in that so for me I like to own

government bonds and one is specific in

particular I can give you off the top of

my head is an index fund an ETF called

the the symbol for it is sh Y SH Y I can

put it up for you but typically bonds

government bonds they're not going to go

up and down and value that much but you

can only get dividend payouts from them

every quarter and so it's at least a way

that I can have my money a bit more

secure at least make more money than the

interest that I'm getting you know just

by how

my cash and a savings accounts and it's

fairly liquid as well where I can sell

it if there's a recession and it's not

really going to lose much and typically

bonds perform differently than stocks at

different you know depending on when

stocks are up bonds can be down when

bonds are up stocks can be can be down

so they kind of complement each other

well and that's why a lot of investors

recommend when you allocate things to

have a sizable amount in bonds and some

other fixed income investments so for me

that's kind of an idea I don't have any

percentages I'm gonna give you guys or

anything like that but I allocate my

money across different vehicles like

that

so if my stocks drop my bonds can still

be secured I have cash I have some other

fixed income investments and you know

I'm fairly secure in the sense that it's

not like not my whole net worth it's

gonna collapse if there's a recession

for example now in terms of stock

investing I do like to buy stocks that I

think can again fit within my horizon

over 10 years plus again those large cap

stocks I do have some riskier stocks as

well and the cannabis sectors of course

that it's fairly volatile but I believe

in long long term and you know other

technology companies as well but stocks

that can typically do well during the

recession are like for example dollar

stores like I own Dollar Tree and Dollar

General on the US stock market I think

in Nasdaq where typically you know when

there's a recession people will increase

their spending and go more to dollar

stores even Walmart and Target and even

Amazon you know can withstand with

recessions because you know when people

and consumers they still shop when

there's a recession but they're gonna go

to the stores whether it's Amazon

Walmart Target or dollar stores where

they can get better prices so people are

more cautious about their spending of

course and and all that so there's

certain stocks like that even utility

stocks can do really well

so there are stocks like that which I

try to diversify amongst where a certain

percentage of them that if there's a

recession I can actually benefit from

some of the upside of some of the stocks

that I own okay so that's another

mindset another approach that I take to

prepare as well so there's a lot of

things there that I do but really the

big

one is holding a lot of cash and having

investments that I can liquidate that

are more fixed income investments that

when there's opportunities in the market

I want to take advantage of that and I

think that's the biggest mindset for me

I'm preparing that if there's a

recession that yes my portfolio

everything can drop up to 50% but long

term long term I'll be able to quadruple

my net worth over a five to 10 year

horizon and quadruple it in ways that I

never would have been able to just going

at the pace that I'm right now so I look

at it as an incredible opportunity for

me personally where you know I can take

advantage of that knowing what I know

preparing my mindset even learning

investing business learning marketing

all these things that can make sure that

I can benefit as much as I can when that

time comes and if it doesn't occur which

you know I don't think that is likely

it's just a matter of time but if it

doesn't then I'm still benefiting from

the gains that I have because I'm not

completely out of the market like I said

I still have a lot of my net worth

invested I'm receiving dividends from

these investments and I do invest you

know every single month as well when

there's dips in the market and

opportunity that I deem is worthwhile so

it's taking that long-term approach guys

I think that's the most important thing

if you've got time on your side then a

recession could be the greatest

opportunity of your life you know for me

if I were to go back in 2008 for me at

that stage of my life I was just

learning investing I was like 21 years

old 22 years old maybe and I didn't have

as much money as I had now but I was

learning investing I had some

investments at that time and I did

invest but I don't I wasn't in the

position that I am now and I think

that's one of the best things you can

also do is just get it take advantage of

this growing economy in this time to get

yourself financially secure having great

cash flow save some money and that is

gonna also benefit you in that time

comes - so prepare as much as you can I

mean you might have to work extra right

now but I think preparing financially

for that time is great if you're not

prepared if you're struggling right now

if you're dealing with a lot of mental

challenges right now mental health

issues depression emotional challenges

financial challenges all of that is

going to be amplified if there's

recession so right now is the easy time

believe it or not right now is that

that the timing the opportunity for you

to get your act together right to get

prepared and to get in a good situation

because you don't want to be going

through that when there's a recession so

I think with anything that I've shared

with you here so far I think that's the

biggest thing is just preparing that

mindset and you know and I think

anticipating things as much as you can

but the more that we prepare then the

more we get able to deal with the

challenges that arise in our future so

hopefully this video has been helpful

for you I mean I could talk so much more

about this but I don't want to you know

ramble on too much in this video I just

want to give you what I what I do that

you know the approach that I take it

might not be the right approach or the

best approach but I'm just being

transparent with you would have learned

and what I've studied and what the

decisions that I've made for myself but

hopefully you could take something from

this and apply it and if you are going

to be prepared there's things that

you're doing I love to hear from you

please leave a comment below this video

and let me know maybe other people can

benefit from it as well if you enjoyed

this give this a thumbs up here on

youtube if you want to learn more about

me and project like mastery subscribe to

my channel you can check out my website

I'll provide some links and resources

for you as well but my website is

www.antakungfu.com

you

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