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On Today’s Episode:
If you’ve noticed the price of eggs recently you may have realized the pain of the recession we’re currently experiencing. Making money during a recession is not only possible, it’s often said to be the time when millionaires are made.
Graham Stephan, host of Iced Coffee Hour, successful YouTuber with over 500 million views started his journey to financial success at 18 years old at the start of the 2008 financial crisis. Years later, over 30 and more than $120 million in real estate sales later, he’s one of the biggest millennial influencers sharing his wins, failures, and experiences for everyone to learn.
In this episode Graham talks about spotting opportunities, doubling down on where you put your efforts, his approach to investing, and how he beat the market with a monkey picking investment stocks. Before you think he had a lucky break into real estate, Graham breaks down how much free work he did to learn real estate, make money, and gain mastery.
Struggling to see opportunities when everyday feels like doomsday is normal. On this channel we find ways to struggle well, build skills, and put those skills to work and build your success brick by brick.
QUOTES:
“I just look at the data and that makes me feel safer.”
“I would work with him for free. I would do anything he wanted for free, and I just wanted to learn and any business that I brought in we would split 50/50.”
“If I’m going to be able to get the information, the contacts from somebody that’s already doing it well, all day I’d work for free!” Tom Bilyeu
“Whatever I’m spending, 10% a year I could be getting forever.”
“If all you know is failure, why would you trust the process of thinking any different?”
“The way you feel about money is highly uncorrelated to how much money you have in the bank.” Ramit Sethi
“Saving money is important, but spending money is also important, […] if you don’t learn how to spend on things that are meaningful to you, then you can accumulate a lot of money over time, but you won’t actually know how to use it.” Ramit Sethi
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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
The thought of a recession can be daunting for many people, but for those who are prepared, it can actually be an opportunity to build wealth. Real estate investor and YouTuber Graham Stephan outlines some steps for using the 2023 recession to your advantage, and how to prepare now.
First, it’s important to understand that a recession is not necessarily a bad thing for everyone. In fact, some investors actually prefer a downturn in the market, as it can present opportunities to buy assets at a lower cost. Stephan advises that the key to benefiting from a recession is having a solid financial foundation in place beforehand.
One of the most important things you can do is to save money and pay off debt. Having a healthy savings account and little to no debt will put you in a much stronger position when the economy takes a dive. You’ll have a cushion to fall back on, and won’t be saddled with high interest payments or struggling to make ends meet.
You’ll also want to start looking for investment opportunities in undervalued assets. This could include stocks, real estate, or even small businesses that have been hit hard by the recession. By doing your research and being patient, you can invest in things that are likely to rebound when the economy recovers.
Stephan also suggests that you focus on building multiple streams of income. Having income from different sources can help insulate you from the effects of a recession. This could include starting a side hustle, investing in dividend-paying stocks, or building passive income streams through real estate.
Finally, it’s important to stay level-headed and not make any rash decisions during a recession. While it can be tempting to panic-sell or make big changes to your portfolio, having a long-term strategy in place will ultimately be more successful. By keeping a clear head, and making smart, strategic investments, you can use the recession to your advantage and come out ahead when the economy recovers.
In conclusion, while a recession can be scary, it doesn’t have to be a negative for your finances. By preparing now, building a solid financial foundation, and investing smartly, you can use the 2023 recession to build wealth and come out stronger on the other side.
WARNING: I will never ask for your contact info in the comments section, that is someone impersonating me!
He didn’t answer the question on how he had the capital to get in at 18 years old.
He answered by saying had a few thousand dollars and used that to get his License which has nothing to do with buying property and the money for that!
Probably got some money from family and is too embarrassed to admit it
i can't express how happy i am to see the two of you having a discussion. love to see it. great advice and content. thank you.
"Day trading is financial suicide."…… "Starting a business is financial suicide, "but I know what I'm doing so I can do it successfully.""…….. Maybe you don't know how to trade……….
I am using these classic ideas of save and invest. Every time I try to give that as advice I get called a boomer. I’m gen x but ok. Every younger person thinks there is a magic investment or job that will get you to the finish line in a week.
Day trading is financial suicide? Blindly invest into an index fund? You're an absolute D U L L A R D
And start out in privilege
So I remember I just got married and got my first home few months before the crash happened in 2008, with huge mortgage loans, of course, and a couple tens of thousands of dollars in the stock market, which got wiped out while I lost my home. It really ruined my finances. I have since recovered, and have been able to build up to $380k again in portfolio, but I can see the trend again, and I'm really worried about how to protect my finance this time around.
Uranium, oil, gas, silver, bulk shipping, all is at historical lows.
I have to be honest, it is really confusing to Tom's followers to have some of martin's own staff contradict him so vehemently that they think XRP is trash. It raises the question of who should be trusted. If the staff can't agree on investments, why should people listen to, or follow any of you? I'm feeling very disconcerted after today's livestream. My husband and I have a great deal invested into XRP based on our faith in martin's analysis of it, and now I'm second guessing whether or not he knows, or if any of his staff knows, what they're talking about.
This is really a great video, but for me, I make huge profits on my investment since I started trading with Mrs Luciana cruz, her trading strategies are top notch
I used to think every investor lose out during recession, meanwhile some make millions. I also thought everybody went out of business during the great depression, but some went into business. Bottom line, there's always depression for some, and profits for others. it all starts with having the right mindset. That said, I've set aside $265k for future, unfortunately I'm a complete noob.
What's up Graham, it's guys.
Who was the 2nd guy on the show?
I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix– Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $90k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?
Finance peeps don’t know what they are doing! ESP during a recession. They are gambling at all costs then analyze thier gains when they turn upwards.
Best you can do rn is EDUCATE urself and gamble in the markets too!!!
Simple, just promote FTX.
Wow this isn’t an interview this is dude talking and talking and making 10 successive points and begging the question, I’m right, aren’t ? Then going on to make ten more points. Zzzzzz
Tom, your videos are getting very frustrating, because the person you have invited to speak, you speak more than them, what is the point if you don't let them speak and often you keep interrupting them and they don't get to finish what they want to say, especially if they are supposed to be the talkers in the first place. So it would be better if you let them talk more before you keep interrupting them!
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Inflation and recession in our world today has brought so many tears to many poor homes, but government never helps matter, until then I realize that (foreign exchange market) (dividends ), (real estate), (stocks), (bonds )(Cryptocurrency) is the key to our financial freedom, despite the fluctuations, we will become victorious
All the new podcasters must take note from Tom Bilyeu, one of the OG podcasters. Great content, perfectly curated questions and not cutting off the guest in the middle of their sentence every now n then.. still keeping it rock solid
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun.. Lloyd Bernard
I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it,Investing is a long-term game, so I try to focus on the long term.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
Becoming a good trade takes time and patience. When i first got into trading i was liquidated twice, and lost my entire mortgage deposit. I could have given up, but decided to learn how to trade and put it into practice. 4 years later and i am glad i made that decision.
I love Gram but is he swinging his legs on that chair