Inflation Is Here...and This Is How You Beat It! / Garrett Gunderson

we also have that more businesses are changing hands now than ever we got baby boomers retiring and so we're seeing a massive transfer of wealth that on the other side of this i don't know if 18 months is too soon it might be more like three years or even five years we're gonna find the rich get richer and we're going to find the middle class having a harder time keeping their head above water because prices are going to increase but their income will not increase at the rate that those prices increase and all this distribution where we're adding money and we're giving people money will still end up in the wealthiest people's hands those people that buy assets that are inflated more inflation guarded people that are buying businesses people that focus on how money works and so unfortunately this is going to be a very painful situation for people that don't understand the money game or the entrepreneurship game because they're just going to be in a place where their lifestyle is going to suffer [Music] garrett i'm curious like right now given this current landscape with our you know with our new political shift in in power and the pandemic and the new strains and interest rates at a high all-time low and and uh seems the real estate market is just at an all-time high and it's like what do you make of our current market and what's your prediction for the next six to 18 months well short-term predictions can be pretty inaccurate i'll preface it with that longer term is a little bit easier just because there's so many mechanisms when they're when we're lowering interest rates that artificially you know moves prices up because people aren't buying houses for the most part based upon the purchase price they're buying it based upon their payment and then they go get a home based on that payment and so when interest rates lower those prices start to increase now we are printing more money it's not even being printed it gets out of the computer screens and so we're creating a situation where it's going to be very hard to adjust interest rates because if the interest rates go up servicing that debt becomes more expensive for the government and uh the only thing that they could do to service that is either i guess print more money and water down the soup of our money or raise taxes so they are very much i mean biden is one of the few people if not if the only one ever that actually won with a campaign about raising taxes it was very clear that he wanted to raise taxes that's that's a pretty rare situation so taxes could be going up inflation is inevitably going to come because when you're adding that much money to an economy that has an impact over time so what i find is you can't really sit around and just hope for the best setting money aside and go i mean the stock market doesn't make sense at this point because of the flood of money like if we sold those businesses that have like there's people there's businesses on the stock market that have franchises but if you sold those franchises they'd be selling for like 10 times more than the franchise is worth based upon the stock price so so that's very concerning to me because as we keep printing money as people keep getting you know checks that come in that that they didn't earn but they're just saying hey we're going to help support you and then they're putting that money in the stock market it starts to build that up artificially when real estate starts going up in value because of low interest rates and limited supply due to a pandemic we're going to find a bubble more people are looking at crypto now than ever because they don't trust what's going on in the inflationary type of structure but there's a lot of that that's not going to work out some that is going to work out so it's really hard to discern so we also have that more businesses are changing hands now than ever we got baby boomers retiring and so we're seeing a massive transfer of wealth that on the other side of this i don't know if 18 months is too soon it might be more like three years or even five years we're going to find the rich get richer and we're going to find the middle class having a harder time keeping their head above water because prices are going to increase but their income will not increase at the rate that those prices increase and all this distribution where we're adding money and we're giving people money will still end up in the wealthiest people's hands those people that buy assets that are inflation more inflation guarded people that are buying businesses people that focus on how money works and so unfortunately this is going to be a very painful situation for people that don't understand the money game or the entrepreneurship game because they're just going to be in a place where their lifestyle is going to suffer hmm yeah man it's so well said and it's a scary time especially when you put it like that um it's it's definitely something where you have to understand the money game you gotta you gotta do the due diligence um i'm not really great with spreadsheets i'm good at the concepts once you understand it philosophically and it makes sense to you i it kind of i watched the matrix again recently it's almost like now you can look at it and know what's going on in the matrix where it doesn't just look like a bunch of crazy numbers like right once they understood it so like once you understand the concept of money as a store of value as a byproduct of value as as you learn value creation and you invest in yourself and your skill sets and then you automatically save money just automatically set money aside and then with that build up enough liquidity and then when you have enough liquidity now you're ready to invest because you've figured out your investor dna which is risk is in you the investor not the investment don't invest in things you don't understand get really good at a few things and focus instead of diversify and then protect what you focus i know that's different than what most people hear out there but that's really the road map of the wealthy the wealthy that diversifies because they have so much money they have to diversify yeah but they got wealthy with focus not diversification diversification is about preservation where focus is about growth figure out what's going to make sense for you and don't invest in things you don't know if you don't know crypto it's not going to be the right investment for you if you don't know real estate it's not going to be the right investment you don't know business but if you do know those things then invest in that and if you don't create the skill set i invested in my comedy career by surrounding myself by people that knew the game i went on stages i figured out a process over time which was about co-creation and collaboration and most people are in isolation and isolation takes too long co-create and collaborate to get there faster yeah so well said again man um in terms of focusing right now let's just speak to the happy hustlers listening and they're like garrett man i you know i got a business it's making money um maybe six figures right i got you know maybe a property um a real estate asset and i got maybe some my hand in some crypto just to hedge my bets where would you focus right now given the inflation that's coming given the taxes that will most likely increase like what's your take where would you be focusing so my steps would be save on tax save on interest save on non-performing fees and investments and cash out of ones you don't understand get better with your insurance and then take that extra cash and put it into your business and find out what is it is it process is it automation is it people find ways that you can start increasing your impact or more deeply impact those people you currently serve and focus on accelerating cash flow with that by increasing that cash flow see small businesses can have big gains where big businesses it's harder to get that because there's a saturation so what is it that's going to make you more sustainable business what is it you're missing that you can add more value to the people you currently serve you can you can go ahead and you know ask them survey them figure that out and just look at where your bottlenecks and where is it that you're not delivering as much as you want which might be a refinement of getting even more focused and you know eliminating some things or maybe it's adding something that's missing that makes a big difference many times that is hiring the right people or investing the time to really get clear about your vision which will drive everything that you do and that's hard because sometimes when we're in the grind and we're in the hustle it's hard to take and hit pause and be like what is it i really want is this what i really want to do yeah yeah i mean it's a great point like again guys go back to the four eyes i identify okay where you can save on taxes with the irs what interest you know that you're paying right now and you know how you can how you can maybe refinance your your interest rates you know you should be paying less than 1.9 on a car loan less than that you should be paying less than i mean i just got a jumbo loan for 2.75 i could have gotten 2.25 interest only i mean those are pretty low and if you're willing to shorten your mortgage which i'm not because i like controlling my money you could get even below that um you know even credit cards are negotiable there's so much opportunity there with a little bit of time that makes a difference over a long period of time it may not be the funnest thing to do to get these things set up but once they set up they pay off for long periods of time what you know it's not just like saving tax this year it's about when you have the right strategy you're going to save tax each and every year from something that might only have taken you a few hours but could have a huge impact over time oh yeah the compound effect like daryn hardy says you know and that that one change this year in your tax structure or like i'm currently becoming an s corp just as you mentioned you know that's going to save me a ton um from last year's text salary plus dividends out there but you'll avoid at least 3.2 tax but up to 15.3 yep i love that um i'm definitely gonna have my uh cpa listen to this episode but uh yeah just like maybe go through some of your trainings too wanna master your money wanna figure out the things that you could do to improve your finances click here and check out more videos like this on money matters

Channel: Garrett Gunderson

Views: 359

Rating: 5 out of 5

Keywords: Garrett Gunderson, Wealth Factory, Wealth Building Strategies for Entrepreneurs, Financial Freedom, Financial Independence, Getting to economic Independence, what would the Rockefellers do, business, success, entrepreneurship

Id: lqKp-WkKiYA

Length: 10min 6sec (606 seconds)

Published: Mon Nov 29 2021