- Today, I wanna share something
very, very important with you and that is,
how do you protect yourself from
the upcoming downmarket and economic crash?
(upbeat music)
Now, if you even follow Ray Dalio's work
or a lot of the different thought leaders
in terms of economics, you would know that a crash
is coming, a huge crash is coming.
It's just a matter of time because of the debt in US
and because of number of issues.
With AI, with technologies, a lot of those jobs
will be replaced by technology and artificial intelligence,
so how do you protect yourself?
I wanna give you two or three good ideas
to really think about and what are some of the things
that you could do today to protect yourself
and secure your financial future?
Now, it's not okay to just think,
oh yeah, that's not gonna happen,
or that's not gonna apply to me.
This is one of those scenarios that it pays to think ahead,
to prepare yourself, to equip yourself.
When this happens, what do you do?
Number one, knowing, expecting that a crash is coming.
I want you to think about the jobs that you are working at,
the business that you're running right now.
Ask yourself the question, what could make that obsolete?
What could make what I do obsolete, right?
Could technology affect what I do?
Or a change, in terms of policy, recollections,
any of this economic downturn, what do I need to do?
So, instead of, and that's something I've been saying,
I've been preaching for a long period of time,
and that is, instead of thinking,
now we're no longer in a job economy,
we're in a skill economy, that you need to think much more
like an independent person.
What skillset that you offer, it could be to companies
or to different businesses or to the marketplace,
instead of thinking, oh, a job will provide for you.
You need that flexibility, right?
Developing what I call the high-income skill
and I have a number of videos on YouTube,
you can search on YouTube, Dan Lok high-income skills,
you will find that.
So, don't think, oh, I'm still in a job economy.
That job economy, the credentials economy,
where a piece of paper,
a piece of paper is not gonna protect you
when there's an economic downturn.
A piece of paper is not gonna prevent you
from being laid off, a piece of paper is not gonna prevent
that industry turn upside down and then,
this massive change that's happening.
It's not gonna protect anybody.
What no one could take away is your skillset,
the value that you know you could provide to people,
to the marketplace, to companies.
No one can take that away from you,
so focus on skill, not just a job.
Number two, if you're serving a local market,
if you are making money and generate income
from just working with and serving people in your city,
expand that, so instead of focusing on local market,
how can you take what you do and offer
to a more global market?
So, when there's economic downturn in your country,
and I know I have fans all over the world,
in your country, or in your city,
you're not depending on it when you are serving people
in so many different countries 'cause usually,
when there's an economic downturn in this country,
this is booming, right?
If there's a problem with this country, and this is booming,
so instead of focusing on a local market,
serve a global market.
Third thing that you could protect yourself and that is,
make sure, when some of the investments you have,
put yourself in a more a cash position
instead of betting everything you have in the stock market
and things like that when there's economic downturn.
What gets people into trouble during these tough times
is lack of liquidity.
They don't have cash.
When you run out of cash, you're in trouble.
Doesn't matter as an individual
and it doesn't matter as a company,
so almost be a little bit paranoid
instead of being overly optimistic,
looking at your cashflow, looking at your cash reserve,
especially when you know,
I can sense something is happening.
It's okay, you don't need
to maximize your return all the time.
People say, oh, but cash is trash,
that I always wanna put all my money
and invest all my money, well, when you over-leverage
and when there's an issue, when there's economic downturn
and you don't have cash, all that better return,
a few point extra in here and there,
that's not gonna help you if you don't have liquidity,
so during these times, have cash on hand.
It is okay and when you have cash on hand,
there's so many opportunities in the marketplace,
things that you can invest in when you have cash on hand,
so those are the three tips that I have
if you want to protect yourself from economic downturn
and if you want to secure your financial future
for yourself and for your family,
make sure you click the link below and check out
my new four-part training series on how to develop
the number one skill that I believe
that is recession-proof, how to recession-proof your income,
the one skill that you need that has helped
so many of my students from all over the world.
- Super stoked, really, really pumped.
I got a boom today, I got a couple of booms today.
I walked into the shop,
I got a couple of leads straight away,
I brought them to the dive shop, I closed one,
and I got, like maybe five minutes later, I closed two more,
so three booms just smashed that goal
out of this place, man.
Smashed it.
- So, click the link and check that out today.