How I Plan to Survive a RecessionJun 06, 2022
As I was getting my coffee in the morning I was really planning how I will approach a very likely recession.
So wanted to share this in today's email.
Everything points to a recession incoming.
Or maybe we might already be in it.
Historically we've seen that where the news/govt tells you we're in a recession, they do it after they did everything they could to avoid panic.
And we were already therefore several months.
Anyways, I want to share some things I plan to do to not only survive a recession but to use it to my advantage.
I'm not an expert I don't have decades of experience investing.
This is simply how I plan to approach it based on my experience and other people's experience.
1- The first thing I'm doing is staying liquid.
Not stable coins. Just cash in the bank.
Both as a safety net and to get assets at super low cheap prices when we reach max pain.
I believe staying liquid is key during these times.
2- Not be looking at my portfolio
One of the best ways to survive mentally is to not look at my portfolio.
If I don't look at it, then it's all good, right?
This one is simple but it works haha
I just continue with my life without even noticing the market is horrible.
This is a huge hack because you optimize your energy and use it towards productive things. You don't use your energy to get frustrated.
My physical experience remains the same because my investment money is not something that I need to maintain my lifestyle.
3- Go mega hard on growing my business
Focus on growing my business as much as possible.
More content, better strategies, and better customer acquisition.
A business is the greatest asset to have IMO.
Nothing beats that.
Keep the money machine going, but also make it produce more.
This will help you be even more liquid.
4- Buy the F*ckn dip and dollar cost average
I plan to use part of my liquidity to buy stocks, crypto & NFT's during "max pain".
This is when things are so down you want to cry.
This is where there is max pain and fear everywhere.
It's impossible to know exactly when the bottom will be.
But that's why I will start dollar-cost averaging my way down
Buy in slowly and consistently.
5- Workout, improve my mindset and learn new skills
This is something I always try to do.
But during an economic crisis, we need to go harder in every area.
- Go hard at making money.
- Go hard at getting ripped.
- Go hard at building a solid mindset.
- Go hard at being a good person.
So that's what I'm doing.
Hope it helps!
Crypto Launch Mastermind
A high level networking mastermind group for people involved in Crypto & NFT's. Meet, connect and brainstorm with other like-minded individuals to get the best insights from people walking the path.