Personal finance expert Ramit Sethi explains how to handle an unpredictable market. According to the author of “I Will Teach You To Be Rich,” “you can’t time the market, but success is about time in the market.” Sethi advisers investors to consistently save and invest every month without paying attention to the market
Since the 2008 financial crisis, it seems like experts have been predicting that the next recession is just around the corner. It’s common to see news stating that economic indicators show the economy is poised to tumble or an economist pointing to the next bubble.
These articles can be informative, but financial coach Ramit Sethi, author of the best-selling book “I Will Teach You to Be Rich,” says young people shouldn’t take them too seriously.
Even to seasoned investors, the market is unpredictable. “Nobody knows if the stock market is going up or down tomorrow, much less six months or 12 months from now,” Sethi tells CNBC Make It.
» Subscribe to CNBC Make It.:
About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.
Connect with CNBC Make It. Online
Get the latest updates:
Find CNBC Make It. on Facebook:
Find CNBC Make It. on Twitter:
Find CNBC Make It. on Instagram:
#CNBC
#CNBCMakeIt
Ramit Sethi: How To Recession-Proof Your Life…(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
Ramit Sethi: How To Recession-Proof Your Life
In these uncertain times, many people are worried about the state of the economy and their own financial security. However, there are experts in the field who have valuable advice on how to navigate through a recession and come out on top. One of those experts is Ramit Sethi, a personal finance advisor and best-selling author known for his practical and actionable advice on money management.
Ramit Sethi’s approach to recession-proofing your life is centered around the idea of taking control of your finances and making smart, strategic decisions. His philosophy is grounded in the belief that you have the power to shape your financial future, regardless of the state of the economy.
One of the key tenets of Sethi’s advice is the importance of creating multiple streams of income. In a recession, having diverse sources of income can provide a safety net and reduce the impact of economic downturns on your finances. This can include side hustles, freelance work, or passive income streams such as investments or rental properties.
Additionally, Sethi emphasizes the importance of an emergency fund. Having a substantial amount of money saved up can provide peace of mind and a financial cushion in case of job loss or unexpected expenses. Sethi advises his followers to save at least three to six months’ worth of living expenses in an easily accessible account to weather any financial storm.
Another aspect of Sethi’s approach is to focus on long-term investments and to avoid making impulsive decisions based on short-term market fluctuations. He advises against trying to time the market and instead advocates for a disciplined, diversified investment strategy that aligns with your long-term financial goals.
In addition to these practical steps, Sethi also emphasizes the importance of mindset and behavior when it comes to recession-proofing your life. He encourages people to adopt a proactive, can-do attitude and to embrace opportunities for growth and learning, even during challenging times.
Sethi’s advice is not only relevant for individuals, but also for businesses and entrepreneurs. His emphasis on creating multiple income streams, building a robust emergency fund, and adopting a long-term investment strategy can be applied to both personal and professional financial planning.
Overall, Ramit Sethi’s approach to recession-proofing your life is practical, actionable, and grounded in the belief that individuals have the power to shape their financial destiny. By following his advice, individuals can take control of their finances and navigate through uncertain times with confidence and resilience.
Watching this now during pandemic with world about to go into worst recession in recent history and millions of of jobs ending, hyper inflation on the cards and the real possibility of total economic collapse. Ahhh just don't look at it and keep throwing your wealth into the spiralling stock market. Guys like this are why normal people lose their shirts!
this guy knows nothing …
51 economists and YouTube, doom-and-gloomers, disliked this video.
Robot left eye.
Are we gonna listen to a guy who's possibly an AI?!
Ignore the video, just buy the market dump in parts.
If you dont mange your money who will??
Propaganda!
Instead of listening to the "noise" I kept majoring in finance in 2007.
I graduated in 2008.
It was not awesome.
We are drowning
That guy: don't think about it, keep sailing.
The only smart thing I’ve ever heard this guy say
Only invest in the stock market if you already have an emergency fund and are out of consumer debt, no matter what the economy is doing.
How to Reccession proof your life: Don't think about it
What kind of genius this guy is
Stop casting this clown
Please Cnbc stop interviewing this guy.
Nonsense
Bitcoin
Lol you can still get laid off even if you have a good relationship with your boss.
Ramit is hilarious. He should do standup
Your job security is not in your control and neither is the stock market. Generate passive income through rental properties and a business so you are not dependent on the whim of your boss and the economy. Thats how I quit my job at 34 and am able to do what I love, making content on my channel to help families find financial freedom!
A very specific video to post at this time, do y’all think a recession is imminent?