Have you geared up for the recession? So many people plan for everything except this. Our guest's market performance remained neutral despite low market performance.
In this episode, I've invited Terry Tran of the
freedomtrader.com to show us how we can spot, deal with and learn from previous recessions.
In this episode we discuss:
- [02:14] Updates on Terry's life from the finance perspective.
- [03:29] Setting yourself up to be ready for a crisis.
- [04:42] Lessons to focus on from downturns.
- [07:43] Getting yourself ready after a downturn.
- [08:48] Knowing when to get back into the market.
- [09:30] 5 main key courses of a recession.
- [12:34] What people should be doing in the next 2 months.
- [14:25] Common mistakes people make during a crisis.
- [15:41] Things that have surprised him in the coronavirus situation.
- [17:37] The importance of creating wealth outside your business.
- [20:06] What surprises him at the moment.
- [21:50] Managing your emotional state when managing volatility.
- [23:58] Things business and practice owners should be thinking about.
