My 3 Money Lessons From the '08 Recession

I am Amit's 80 and tonight we are discussing money lessons learned from the 2008-2009 recession now the reason I decided to talk about this tonight was a couple of nights ago cast asked me what did I learn in 2009 and I remember it vividly and there were so many lessons I learned at that very moment and there were also lessons that I could only learn looking back 5 even 10 years later so it is particularly timely today as we watch the market go up and mostly down and I get more questions about money investing and everything now I also spoke to an adviser of mine who has a lot of clients he deals with money stuff and you know I asked him what are your other clients doing and you know he said to me he goes they're doing all the wrong things they're set they sold a week ago after it went way down and then the market went up 20% in three days and they called me back and they felt so stupid then they're buying so they're selling and buying selling low and buying high it's a sort of the opposite of what you're supposed to do and I told him I'm like you know a lot of people think rich people are smart but sometimes rich people are stupid they just have more money than most and what just because you have money does not mean you know how to manage it making it is a skill but managing it and investing it those are other separate skills and if you talk to anyone who manages money whether for ordinary mom-and-pop Americans or the wealthy or even ultra wealthy you will discover people feel the same things at different levels of wealth they feel they they feel scared nervous they try to be outsmart the market the question is what do you do to deal with it so I want to talk about where I was and in 2008 I was working at a startup that I had co-founded and you know I knew investing I've been writing I will teach you to be rich for four years and for many more years than that and I saw what was going on and I remember being at work and there were several other young co-workers there and a bunch of young people were I guess the word would be like eager to see what would happen oh my god is there gonna be a recession and like some of them even said it'll be great for young people because it's a great investment opportunity and one of our older co-workers who might be watching tonight he came by and he said guys you do not want to be excited about a recession because bad things happen in a recession and you know truthfully he was the word of wisdom coming by and it kind of made us get quiet and a little embarrassed frankly he's right because when recessions happen bad things do happen people get sick people lose their homes people die and if you are constantly looking through the lens of financialization of america for young sophisticated people they look at the situation where there's a recession happening and they go I'm long meaning I think that the economy long-term is gonna be great I'm gonna buy stocks I'm gonna buy funds this is great for me now while that may be true that is just living life looking at it through an Excel view point and what our older colleague taught us was you're forgetting the human element which is recessions caused lots of bad things and people get sick they lose their houses and they die so I think that's important to recognize which is now having gone through it a second time I definitely would not wish a recession on anybody much better to have a controlled decline or controlled incline but when things go like they're going right now it's bad and while you the young savvy investor watching or listening to this today may turn it into financial opportunity that's not all there is to life so that was my first lesson the second lesson was have savings because I was laid off from my own company so I know what it feels like to be laid off and I've been on that side of the table I've also been on the side of the table where I had to let people go very difficult to be laid off especially in an economy where other people are being laid off lesson learned there was when things get bad they don't just get bad for you a lot of times they're bad for everybody so sometimes people think misery loves company which I do agree sometimes I love hearing about your misfortunes I'm like yeah it's great keep it coming but you know what when it's bad for everybody nobody's happy about it at that time I remember being thankful that I had savings so I had been consistently building up my savings over the years and I knew that I didn't have to get a job and that was like a complete weight lifted off my shoulders because if I had had high expenses which I didn't I was living in a very low expense I didn't spend a lot of money I had savings if I had had high expense I would have had to get a job and if you guys remember meets ten money rules I believe one of them is never have to make a bad decision or work with people I don't respect because of money so I don't want to have to get a job because of money I don't want to have to do this because of money and thankfully savings allowed me to not have to do that guess what I did after that happened I turned my hobby or what was a tiny thing into a full big business and my book launched a few months later and became instant bestseller and so businesses and opportunities are available even during downturns and I had got to tell you I remember going around the country and talking about investing and earning more and all these local producers thought I was nuts why are you talking about this ten percent unemployment and I said yeah but there's still people who want to invest and by the way it's interesting tonight because what we see in the news is what's going on crazy unemployment claims which are real but I also see the data from my own business which is tons of people joining our earn above isness program which closes tonight and I can actually see the data and I can see that there are a lot of people and this is a premium course it cost money there are a lot of people investing so don't be misled that in a contraction everyone stops spending on everything that's not true there's opportunity what else can I tell you and then we'll do some questions it's easy if you have a second stream of income it's easier to ramp that up or turn that up than to go from zero to one in other words going from zero to one is hard one to ten is a little easier so if people have freelance income in 2008-2009 they could go to that and find clients even if they had to offer additional services or in some cases lower their rates but if they were out on the street looking to do it for the first time that was a little challenge a good reminder that you want to make sure you're flexing different muscles and have them activated so if you ever need to turn them up you can oh and then one last point and then we can do some discussion this was a lesson that I didn't learn until five plus years after people who grew up during that time especially young people during the OE of a nine recession became generationally afraid of investing okay and what's crazy is like you had granny over here who lost 50 percent of her portfolio granny never should have been invested that aggressively but granny doesn't understand what asset allocation is granny's like I don't know I handed it to my guy and he sold me some shitty annuity granny doesn't know what's going on at least not with investments nor can we expect the average investor to understand these technical concepts granny never should have been invested that aggressively but for young people had stayed in the market they would have recovered and made considerably more but many of them did what that advisor I was telling you just said happens in the last few days they got scared they pulled their money out not only that they stopped investing for the next decade I know some of you watching you bought my book in 2009 the first edition and you didn't invest and you maybe you bought the second edition and finally you started investing in that ten years the gains that have been lost are astronomical so what's in the past is in the past but what we can do in the future or right now and in the future is invest consistently make sure that we are investing in the correct allocation chapter 7 of my book I will teach you to be rich and automate once you create a plan then you're not sitting there looking at the market every day and making all these crazy decisions you have a plan it's executing automatically that's it all right let's take some questions those are my money lessons from 2008-2009 recession what do we have tonight wearing all the clothes that I was wearing did we have some photos will try to post those maybe we'll do a little little before and after lessons of oh wait vs. you no no no no no no fedoras by the way when I made fun of fedoras in something a lot of people got angry Lots and then I click through to their pictures and I was like of course you're angry all you are is a fedora and then I thought to myself you really should be listening to me cuz my advice is for people like you fedora wears who think fedoras look good but they look like [ __ ] listen I know what happened you're in 1998 you think Justin Timberlake looks cool by the way don't write me I had this happen last time oh it's not a fedora me it's a trilby do you think I give a [ __ ] you think he looks cool you saw Michael Jackson wearing a fedora you're like I'm gonna be like those guys I have no style but if I Fedora on the world will part in my way you did it and the world quickly told you you look like a freaking creep so I'm giving you you know I give people different types of advice some of it is financial advice probably make you over a million dollars over the course your lifetime maybe you want to start a business using earnable IWT comm slash earn closes tonight but really the most valuable advice that a young man can get is by listening to my words right now look read my lips read my lips get rid of your [ __ ] fedoras I'm doing you a favor Santa Claus is visiting you tonight you're welcome know your emergency fund is for America oh my god people are so they act so crazy about their emergency funds there's two things people do and they're both wrong number one they start using it and they're like Rumi where should I put my emergency fund I don't want it to just be earning 0.1% interest I need a better return like it's a [ __ ] emergency fund it's there for emergencies no do not invest it it's there if you lose your job or the world goes to hell second we have people I I know people like this as of one week ago they have an emergency fund they did a great job building it they're still going to work exposing themselves to coronavirus and their families and then you say like why are you doing that don't you have enough money saved they're like yeah but I don't want to tap into my emergency fund it's a [ __ ] emergency all right these are good questions tonight yeah okay would you recommend investing a bit more currently I guess the answer is if you have the money it's okay if you have the money so if you have your emergency fund one year is what I recommend if you already have an investment plan you've been following chapter 3 and 7 of my book that's keeping on going and you still have more money this is a very select advanced group so this happened to me in a way and onine I had additional cash just kind of sitting on the sidelines and I said you know what I'm gonna put this in the market in addition to what I'm already doing and I did and that money grew substantially over the last decade I told cast that one of the lessons I learned was I always wanted to have some additional cash around opportunistically in case something comes up you know for some people they might want to buy a business for me whenever something went down and I said you know what this is money that's just opportunist at least sitting on the sidelines I'm gonna add more and I do believe in the long-term future of our economy so I have been investing additionally beyond what I would normally invest and I plan to continue doing that so if you do have it yes you can do it and you can invest the same way you've already executed on your plan just put more funds in by the way that's a very advanced concept so if you don't have an emergency fund or you haven't been following the plan don't do that okay follow the plan first no that's too big of a question ask better questions lots on the fire movement now uh this person that's a good question this is a sort of a bait question so the fire movement for everyone wondering is financial independence retire early I talked about it in the book I also did an interview where for the first time I shared my thoughts about fire it's mad scientist you can google mad scientist with an F like scientist room eats a tea and I think it's very revealing you'll kind of hear my thoughts on the psychology of the fire community I do think I follow the fire community the fire community in general is eager to save aggressively in some cases 70% of their income so that they can retire early for some of them some of them retire at age 33 things like that and there are different kinds of fire there's lean fire that kind of goes for a walk in the park for fun there's fire there's fat fire which would retire with two kids in private school in Manhattan etc I think that now the fire community will change in some ways first of all I think that anyone in the fire community was more prepared than the average American because they understand things like withdrawal rates and compound interest so that's awesome I think that some folks in the fire community have probably recently joined it because the market was good and when the market is good you get a lot of people who ordinarily would not join for example in college when I was there the major number one major was econ after the tech boom took off it became computer science and so CS people are kind of like get out of here fakers we want the people who really want to be here that's always gonna be the case fire same thing as the market got frothy er and frothy ER a lot more people who ordinarily would not have been in there joined this will likely clean some of that out now I don't know if that's a good thing or a bad thing it's just it is over time I think long term people will be more thoughtful about considering the amount that they have saved and invested before they retire and this will definitely change some people's plans you can already see it happening in the fire community how did your teeth become so white I don't it's just the lighting I think is that a real question yeah I'm mixing it up here Wow really getting down to it I don't know but I do I have gotten them whitened so I would recommend that ok let's talk let's talk whitening people I tried Crest Whitestrips many years ago I don't know they're okay there are some places that do it it's like McDonald do you walk in it's like 60 minutes you're in and out so I don't know give it a shot also I think you can use your HSA for it oh yeah so you can check HSA teeth whitening and see if it's eligible if anybody doesn't have an HSA if you're young you might and you have a high deductible insurance you may be you may have the opportunity to join an HSA I talked about that in the book and HSA is a secret investment account you get tons a triple benefit so if you have an HSN you can actually use it to invest not just buy toothpaste so that's a little bit more advanced but it's in the book how do I approach drop searching in a recession I was interviewing with a dream company we're gonna talk about this next week if anyone has questions about what to do for a job search send me a DM or an email be specific with your question I want to hear it and any employers tell me what you've heard are you hiring what are you looking for right now are you on a hiring freeze tell me that to send me an email or send me a DM I'd love to hear from you alright what is the best way to tell your staff we are reducing operations this is a really tough one so first of all I feel for you and for all business owners who are having to make really tough decisions right now and I think that I have been on both sides of that as shared with you and you know as an employee very difficult to hear that as a business owner you have your own set of difficult challenges that very few others can understand so I understand it and I feel for you this has been my experience I have had to have these conversations a few times and I think it's really good for you to ask this because I benefitted from asking an experienced manager early in my career how do I let someone go etc and just listening to them actually just say what they were gonna say helped me understand tonality and the the basic frame of the conversation so let's assume that you are having one-on-one conversations with people that's the simplest I would take them in a private room and and if you need to have another legally if you need to have somebody else in the room with you then you should arrange that you should speak to your attorney before this happens I would recommend that and you should say something like you know John I have to have a really difficult conversation with you today unfortunately we have to reduce the operations of our business and today's gonna be your last day and I wish that that's weren't the case but with what's going on there's no other decision I can make now you will be given a severance I've prepared some of that information here and if you have questions you can contact Joan so what I'd like for you to do is to collect your belongings and we do appreciate your service I appreciate it personally and I thank you very much in that again that's not perfect none of these conversations are perfect but a couple of things that I just want to highlight for you was first of all get to the point you know today's gonna be your last day and if it is because of a not for cause you can tell them this is not for performance related really reasons but simply something that is due to what's going on around us the economics your attorney can advise you on specific verbiage they're very experienced at this but that's a general tone you also notice that you're not making any promises at the end you're simply laying out the facts you're thanking them and there's no there's no debate or discussion so I hope that helps them again I feel for you is there a key difference you're seeing between the OE oneida session and now nobody knows yet it's too early it's too early to tell we will know more but we are probably just in the early stages of it right now and I think it's really important that's important to know for a couple reasons one what you're seeing in the noise and the stock market it's all it's all just minutia and noise when you zoom out a year and certainly five years if you go back and read the New York Times on in October 2018 and November then December then January it looks like it's crazy every single day but if you zoom out you can kind of see there's trends okay that's number one and I think number two also reminds us to be humble like don't get cocky oh the market went up 15% or they're talking about some kind of vaccine no don't get cocky these things take a lot longer to go through this system it affects more people than you can possibly imagine in order for you to get that head of lettuce think of how many people have to touch it including the stock person the manager at the grocery store the trucker the loader the farmer the marketer who's doing all that there's so many people involved in that economy and one that's ground to a virtual complete halt it is going to be incredibly challenging to unravel this saved for a down payment should we invest some and delay buying a house as a blanket general rule this is a blanket one I would not be putting down a massive expenditure on a house right now for a couple of reasons one we don't know where the economy is gonna go that means you could lose your job you're more likely than ever to lose your job we don't know what the value of housing is gonna be personally I would predict it will go down but I'm just a voice who cares what I think who cares what anybody projections think we don't know if you there are some exceptions to this if you have run the numbers and you know that the value of the house doesn't matter to you because you're planning to live there for a minimum of 10 years you don't care if you sell it and lose money because it's the house you want to live in it's it's a it's a expenditure not an investment then that can be a reason but I would be more conservative with really large purchases right now and if I were you I would put that money if you decide not to buy it I would keep it in cash because the down payment unless you're not going to buy for five to ten years that money should be liquid I'm eighteen interest started working what is the best way of saving and investing my money at eighteen you have an amazing future ahead of you so the fact that you're here tonight asking this question is incredible you should again from a financial perspective for you you might think that it's horrible to be going into an economy like this and it will be a little challenging in the short term but the fact that you're savvy enough and asking these questions now means you will probably be extremely successful financially over the course of your life what you should do is you should read my book it will show you how to automate your savings even fifty bucks a month even twenty bucks a month it will also show you how to start investing just to give you an example I started investing when I was 14 or 15 my dad opened up a custodial account for me and I started picking random investments learning some of my I picked individual companies that's what investing was it's not but I also learned and made mistakes with a small amount of money as I grew my income and my net worth I built a system and that system is now yours in the book so you can learn from it and just plug right in so I'm really happy you came tonight and I'm happy you're taking control for your life yeah next question are you part wolf yeah zoom in just broke that that hair it's very soft okay people like that you guys want to do a tutorial on skin skin care rule number one rule number one oh no no no you don't have we don't have 14 hours for a show yeah you pull out all your products you know okay when we went to dance I when we when we went to Japan casas rule was any drugstore she saw she's like I'm going in here and I don't just mean for like she's very considerate right cashier very thoughtful of him except when you lose your mind walking into a Japanese drugstore it's like it's the equivalent of a 7-eleven year she would go in there for two hours I'm not exaggerating now I can understand you don't know what any of this stuff is cuz you can't read the packaging but you came back with an entire large suitcase full of cosmetics then I saw some extra cosmetics in our room this is like three weeks ago I was like there's some bottle I'm like babe what is this she goes oh I can't remember what that is you [ __ ] Japanese you can't even remember babe so I guess you should be the one to teach that class yeah the one said they need to do that okay next which sector are you keeping your eyes on right now I don't really do sectors and I think that if you want to if you want to do it with a little play money if you've got your whole portfolio developed it's all diversified and you want to take five to ten percent of your money and play with it whether it be a sector and individual stock Bitcoin whatever be my guest but in general I don't really do that so that's my answer what are you most excited for in the next six easy easy I mean tonight is the night that our own herbal program closes it's the first time we've ever launched this program and I've already seen people in there so it's amazing this guy is in the community just two hours ago I was showing cast this so we have one part of our community group our forum where we have people write their author so we teach them how to create an offer find an idea create an offer and then they get critiqued by other people so this guy had a sort of like I'll help you with your website offer but it was really technical using all these technical terms and SSL and stuff nobody cares about so some students earn Abul students went in there and critiqued him and he redid his offer and I was showing it to Cass I'm like Cass look at this thing you would pay for this like right now right now you would send him you would say send me the PayPal link I'm in so watching that that's the program isn't even like we haven't even finished selling it closes tonight seeing that develop in that program is amazing and to know that we're at the beginning of where we were in 2012 with dream job 2014 with ztl we're about to launch an entire generation of entrepreneurs we're gonna help them find their idea we're gonna help them turn it into an offer we're gonna do it at the toughest possible time you know my first book came out 2009 pure depth of the recession March 2009 that's the bottom bestseller earnable coming out right now when people are saying nobody's buying anything I know that is untrue even in times like this people invest in themselves they just buy stuff because they want to so we're gonna prove it and I'm very proud of that I'm proud of a team for this I'm proud of the students for investing that's what's exciting over the next six months we didn't even tell anyone about it yeah so you get real-time feedback on your offers which i think is so bad that you've you've found that to be helpful when we've talked about your office right oh yeah like with you my sales coach but if I didn't have you or my sales coach like I think I would be lost okay someone asked when are you gonna start your podcasts I don't know Wow another person just asked that to you everyone always asked me to do a podcast and then I'm like what do I talk about but then I realize I'm here every single night and I could talk forever so is this basically my podcast fireside chats with roomie dad all right we'll do two more questions okay what are the most impressive lesser-known teachers on information product business that is an excellent question Jermaine Griggs is a great guy and he teaches some fairly advanced marketing automation stuff now I'm saying advanced because I don't recommend like if you make less than a million dollars a year you probably should not be some of his products are pretty advanced and it sort of doesn't make sense but I think he's a really good teacher and I think he's come up with some pretty amazing interesting ways of looking at at business and auto marketing automation which means how it flows who else can I say is really good what was the question information products yeah oh just picked up a second second let me think about that's a good question I'll start with Jermaine Griggs he's actually quite well known but everyone has their own niche so I'll think of another answer come back to you all right other than psychology are there other fields that helped you in your business strategies yes oh my god so my major was STS at Stanford science technology and society and we studied how society influences technology and technology influences Society and one of the things that we learned there was that most people kind of have this offhand phrase that they use like well technology is neutral it's all about the people who use it it's how people use it and what we quickly learn when we study is that that's not true at all technologies are political technologies are inherently influential by the people that design them just as an example there are some facial recognition software that can't recognize a black person guess what there were no black people on the team designing it technology is not neutral and so that was very helpful and has continues to be very helpful as we design programs for our students we want to make sure we have a diverse team we want to make sure and I mean diverse in every way we want people who can consider what it's like to join earnable as a total beginner you're coming in you're like I literally don't have an idea I don't even know anything about business I don't know what ROI is cool you're gonna be greeted you're gonna be able to take a special additional tour with our Student Success team they're gonna have handhold you through the entire thing and then there's people who are like much more advanced they're like hey I want to know how did you do that sales conversion thing or how do you structure your upsell process because I've heard 10% but I know you're doing higher than that how you're gonna be able to get that answer quickly so we want to design our technologies and I use that term broadly in a way that can be applicable and helpful to lots of different people STS was helpful social sociology was helpful to understand how networks work together and people work in broad levels I don't know I just love what I studied academically bonus bonus questions let's go okay who's the person asking this just tell me the name that's really surprising cuz it's usually it's usually defensive men who ask about you they look [ __ ] horrible that's what I have against them what do I mean what is there to say and the worst part is the people who wear it think they look good like aren't there things that we wear and we all were kind of like we know this looks horrible what would be an example of something that's not in style anymore that we all know looks like a a baggy rayon shirt oh babe you just alienated all the fedora wears actually okay well let's pick something that's a little bit more approachable what's something people wear that just besides that that they everybody agrees looks horrible just baggy clothes that don't fit okay they just we're like a long sleeve button down you are in college yes a check for the problem is babe that some of these guys actually they still think that that looks good you're you're starting up here what'd I just say two seconds ago babe we got to start at the beginning level oh okay perfect cargo shorts okay great unless you're a redditor in which case you're probably irredeemable most people agree cargo shorts are horrible we can all agree let's all give each other a hug we all agree the problem with fedoras is most people think it looks horrible but the people who wear it really I deeply genuinely believe I look [ __ ] good so we're talking about a level of delusion that is unparalleled and that is just one of multiple problems I have with the doors great question these are the kind of questions I want where should I invest no talk to me about the doors okay as a business owner I would like to know how you were laid off from your own company well that's what happens when you raise venture funding isn't it it's a great question how does that happen even I even I look to the heavens and said wait did that just happen well that's what happens when you raise venture funding so when you Rick we raised a millions of dollars in venture capital and what happened was the venture capital has come in and they are looking for a return on their money and I actually do not blame them because the business as we had done it was not working so they needed to find out how to deploy that capital in a way that would generate them or return and the b2c collaboration space was not working to generate the kind of capital or the kind of return they needed so they want to switch it B to B I'm not really interested in B to B nor am I good and so when they take a dispassionate look at the business and they say look we have some b2c folks here nothing personal against them but that's just not the direction we're going with the business and so business owners like speaking to you as both someone who's been a business owner and someone who's been on the other side of the table sometimes you have to make really tough decisions about the direction of your business and you may have to let people go and they might hold it personally against you but like a business owner knows sometimes it's not about that it's just the direction of the business and this person may not be a fit so that's how it happened what did you do after you got laid off I went straight I still remember every minute of this I went straight to Safeway I drove to the grocery store because we used to eat at work we had a like a kitchen stocked and I was like oh [ __ ] I better get some food because I don't have any food at home and I called my dad and anyone who has a parent that parent has probably been through some sort of layoff been fired some sort of contraction it just happens in a career one time or another it will happen and I called my dad and my dad was super calm and he just listened and he said you know what it's okay he said take your time and he's like you don't have to tell anyone if you don't want to just take your time and know that it will be fine and what's crazy is my dad like most Indian dads not very emotional but that was that was like exactly what I needed to hear just the world wasn't ending I don't have to go out and broadcast if I don't want until I was comfortable and I remember that was a Friday and I remember telling myself you know what I'm gonna just feel horrible this weekend I'm gonna just feel my feelings I'm gonna sit around and just you know eat popcorn all weekend yeah no I didn't eat Taco Bell by that point I had grown past that I was a executive at an online company come on but but I said you know I'll decide next week what I'm gonna do that's what I told myself which was I didn't want to jump in you know as an entrepreneur now I'm like what's next what's next but I decided I'm just gonna take a few days to just feel bad because this was bad but in the back of my head I already knew and when Monday came around I was like you know what I'm gonna go full-time on I will teach and I'm going to crush it and as exactly what happened that's exactly what I did did that give you more motivation well I I told myself that one year from now I'm gonna look back at this and say this was the best thing that ever happened to and one year later I had a New York Times best seller I had I think we had launched a product that year I had gone on tour the the thing was way bigger than I thought it was I just thought it was my little blog with a few you know 50,000 people reading it some it was a big amount but not that big but when I went on tour and I saw people in all these different cities actually coming out to meet me like getting out of their chair and come to a bookstore I was like oh my god this is this is way bigger than I thought mm-hmm so that's what happened are you really small or is that you're really big it's [ __ ] huge thank you for asking like how do i how do i demonstrate how big this - here look for scale this is so big or I'm like just a tiny actually that's a good question cuz when I meet people I want to get the advice of the audience when I meet people in person a lot of funny things happen one you know people feel like they know me so that's awesome they're people who meet me are like the best they're super nice they're like super fans I love it but I I frequently get this comment which is oh you're taller than I thought and I'm like how do I respond to that what is the correct response to that question so you say that is the one I just go haha Thanks and then in my head I'm like so I don't know is there an answer to that I have learned along the way I've learned how to extricate myself from awkward conversations because many I will teach readers probably half the people watching are socially awkward so I know I've flawless at executing myself from these conversations no problem and I've learned how you know like how to introduce myself and all that stuff but I have never learned an answer to that question so anyone who can give me an answer thank you in advance thank you that's really boy anything else okay funny yes next question where's mom say to you we'll ask her it's a good question yeah so how tall are you you're 6 feet oh this is a point of debate so well actually this is a really contentious thing so I think I'm 5 11 and a half or 6 feet but watch this guys I'm 5 11 and a half Kass insists I'm 6 feet I'm like okay yeah all right what's you have any other questions we're now at the point where we're talking about my body hair my height I mean it's really easy yeah yeah these are better questions than you know some investment I'm like chapter 7 what's next ok so regarding Tobin what will happen to earn herbal in-person events ah we immediately adapted them for online events so we are doing them online and we will be doing them both with earnable students so earnable students every month we're gonna do a special event online and for everybody else in the community we'll do something which will be awesome not as awesome as urnament scuzz you guys are the best but we're gonna do the whole tour we had scheduled to go across the country it's adapted to online and you know as soon as we can we'd love to go back out but first things first is the safety of our team and our students ok two more ok I got all the exit what are new courses you're working on creating these days well what should we create what do you guys want to see here are some things that people have told me they want to know about running a distributed organization they always ask about productivity but I don't think they're really serious some money stuff yep that's certainly something people have talked about I think the first step to love and money is do erna bewitch your partner see how that goes all right when they when they have answers I'd be curious to hear what what people think we should create okay all right so we'll end on this one can you please explain more about your earnable program really did you just make that up that's a really good setup okay well first of all it closes tonight so you should go to IWT comm slash earn we have a huge sales page and we have a video and a reel and it's basically a way for you to create a second stream of income so for a lot of people whether you have a full-time job or you've been trying to start something on your own a lot of people want to know how do I find an idea how do I turn that into paying clients and then how do I even scale that so I can be automatically earning income being my own boss and being able to work from anywhere I want now we didn't anticipate that it would launch at a time like this but it turns out that because of the way we've set up our business where all my team is remote we've talked so many other business owner or people how to become business owners and so so many of them are doing really well and you can see that on my latest Instagram post they're financially stable they're in control they're not scared they're playing offense not defense so I WT comm slash earn that's the program it's online it has videos we have interaction there's a community it has amazing levels of detail like you can actually listen to real sales calls I did and I think it will change your life like it's changed mmm like our business programs have changed so many other people's lives too all right now I'm back here tomorrow we have a big show tomorrow tomorrow is household tips with roommates 18 okay Saturday night get ready call your mom call your dad call your grandma call your grandpa everybody tag him and get him watching they've been alive 50 60 70 80 years they have never seen household tips like this okay and I I'm just so excited to share the real the real work that I've been developing for the last 25 years is what immediate hacks can you implement in your household to live a more fulfilling and productive life right here in your kitchen it's gonna be great in the meantime I post all of these at youtube.com slash for meat safety I have a playlist called fireside chats go send it to 30 or 50,000 people send it to all your friends post it on Facebook let's get people watching these you can also tag people here on Instagram let them know they should watch this they're thinking they're getting scared of money this is a great episode to tag them on so thank you guys for watching I've been here every night since this started I'm gonna be here every night until it ends thank you very much I will see you tomorrow

Channel: I Will Teach You To Be Rich

Views: 11,737

Keywords: personal finance, personal finance 101, personal finance tips, personal finance management, ramit sethi, personal finance basics, how to save money, recession 2020 prediction, recession investing, recession proof business

Id: oIqrBruv2Yc

Length: 46min 39sec (2799 seconds)

Published: Sat Mar 28 2020