Hi Chris and Susan here...
Yesterday with forecast high temperatures in the UK we decided to take off for the beach and enjoy some time thinking about our future
If you've been following us for any length of time you will know how much we value our time freedom and the choices that we made as a result of the 2008 recession
Which brings us to what we want to talk about today
What should I do about the coming recession?
Last week we talked about The Big Lake and the importance of multiple streams of income
These are going to be more important than ever with the recession at our doorstep
And make no mistake...
If you take any notice of what the experts are saying, we're on the verge of the biggest economic downfall since the Great Depression - bigger than 2000, 2008 and the 2020 crashes COMBINED
Don't think for a minute this is not going to happen
- Cost of living, groceries, and housing has spiked 7% - the highest in 40 years (due in main to rising fuel & gas costs)
- 7 in 10 Americans say they are living paycheck to paycheck
- Top hedge fund managers say the stock market is a 'super bubble' waiting to pop
And it's no different here in the UK
The thing that worries us in particular is the cost of healthcare
And those the hardest hit right now are those in retirement
Regardless if it's now or later the truth is we're having a recession
So what should you do?
#1 Limit your exposure to the media on the subject - they just love a good story and all it does it lead you further into doom and gloom
#2 When the economy changes it's important that you're building for the future not for the past or even the present
#3 Start a business / create an income stream by selling something people actually need. 'Painkillers' and things that help people ensure their safety and security are those that work best
#4 Replace fear and helplessness with resourcefulness. Anytime you have the thought, just switch it out with "I'm going to figure this out"
That's what we did as a result of what we got dished up in the 2008 worldwide crash. It led us to starting our online business and created an all important income stream - one that's fed us for over 12 years
#5 Don't forget about yourself. Just because everyone is freaking out and people are inside of a fear bubble that doesn't mean you need to 'hustle' harder.
- It means you need to take care of yourself
- It means you need to eat healthy food
- It means you need to take regular exercise
#6 Don't let go of principles. In a time of recession, people let go of their principles and get into all kinds of grief, get scammed etc. You'll never forgive yourself so don't do that!
#7 Don't be hard on yourself. It's easy to feel that you should have prepared more (that was us 100%)...
- Worked harder
- Had more money
- In a better situation
This is just a phase.
Things go up
Things go down
Things go sideways
This is part of the cycle of life
Don't make it bigger than it is
As entrepreneurs, we believe the 2020's decade of change is a beautiful thing that we get to be part of...
And can be the solution to
If that's you then you might want to consider how you can play your part in transforming the lives of others...
Their mental, physical and financial health
And if you live in New York we'll be there next week for the launch of our new range of holistic health solutions and would love to meet you
Just RSVP to this email and we'll give you the details
