The pandemic is no secret now. Regardless of how each of us feels about it, it happened. Problems happened with it, especially for the millionaires. For each of you listening today, if you are a millionaire or your goal is to become a millionaire you have to pay close attention to today’s call. At the end of 2019, there will be 11 million American millionaires according to a new study published by Spectrum Group.
According to the Bloomberg Billionaire Index, the world’s 500 richest people have lost over a trillion dollars since the start of this year. This is over 20% of their net worth. It didn’t just affect the poor and the middle class, it hit everyone. Some can just stick it out longer than others. If you are listening today as an entrepreneur, solopreneur, or maybe you are just getting started kicking around an idea there is no better time to get started than right now.
Have you been sidetracked by the pandemic? It is time to get back on track and make the most of our current situation. In this episode, I am on call with Chad McCall. We talk about how you need to reset and take action now to grow your wealth. We share practical steps you can take to get started now and make the most of the current transfer of wealth.
Show Notes:
- [01:22] The pandemic didn’t just affect the poor and the middle class, it hit everyone.
- [01:29] If you are listening today as an entrepreneur, solopreneur, or maybe you are just getting started kicking around an idea there is no better time to get started than right now.
- [04:02] Finally, the message of being an entrepreneur is more relevant and more timely than it has ever been.
- [04:30] March 17th was the biggest stock market crash since 1929.
- [06:10] Loral helps people overcome doubt by helping them actually make money.
- [07:08] It is not about your mindset. It is that you don’t ask for money. If you don’t ask you won’t receive it.
- [08:12] What are you going to start doing now and stop doing? The more successful people need to stop a lot of noise.
- [08:49] You have a perfect time to reset your overhead, your team, your travel, and offerings.
- [10:01] Loral is helping people collaborate, create new divisions, and create new partnerships.
- [11:56] This might be that perfect time for those advanced investors to lock in on a business that needs them and they can step into and use their expertise to grow the business.
- [14:12] There has never been a time in the history of our lives where it is so indiscriminate for anybody to buy.
- [16:33] May is the time where many states are going to open and there are going to be many opportunities.
- [17:21] Start getting a plan and your cash together and figure out who you want to be on the other side of this.
- [19:01] The serious people who want to do something, this is their time. Right now is the time to grow and expand.
- [22:50] Get other peoples’ ideas, thoughts, and opinions. Gather that information from a financially literate perspective and you make your own decision.
- [23:04] Many wealthy people have and rely on their teams. You need a team to walk through this with.
- [25:16] Chad believes there will be a surge of women entrepreneurs over the next two years.
- [27:54] If you have a gift and a talent and you are sitting on your rear doing nothing, you are the most selfish human on this planet because you are not suiting up and helping other people.
- [28:47] Get beyond your selfishness and ask yourself, “What do I need to be doing to help my community come back alive?” Be a creator in your community instead of a taker.
- [31:36] Loral’s is a Harry Potter, Florida-Georgia Line, and Zach Brown fan.
- [32:29] Loral sold her horse Trudy to get her first truck when she lived in Nebraska.
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