Recession−Proof Your Wallet: A Middle−Class Guide to Protecting Your Money

The “R” word. Recession. Denial isn’t making ends meet, is it? The prices aren’t going down, and if you’re lucky enough to still have a job, your paycheck isn’t increasing, but your rent sure is! Our country’s future is big ol’ question mark. How can you protect what you have and get through this hot mess? Well, I’m here to help.

 

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Episode Transcript

Lynn Jordan: The R-word, recession, (00:00):
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Lynn Jordan: denialism, making ends meet, is (00:02):
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Lynn Jordan: it? (00:04):
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Lynn Jordan: The prices aren't going down, (00:04):
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Lynn Jordan: and if you're lucky enough to (00:06):
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Lynn Jordan: still have a job, your paycheck (00:07):
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Lynn Jordan: isn't increasing. (00:08):
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Lynn Jordan: But your rent sure is. (00:09):
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Lynn Jordan: Our country's future is a big old question mark. (00:11):
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Lynn Jordan: How can you protect what you (00:14):
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Lynn Jordan: have and get through this hot (00:15):
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Lynn Jordan: mess? (00:16):
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Lynn Jordan: Well, I'm here to help. (00:17):
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Lynn Jordan: Hi, I'm the urban prepper. (00:21):
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Lynn Jordan: I help single moms and solo (00:23):
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Lynn Jordan: women with practical emergency (00:25):
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Lynn Jordan: preparedness. (00:26):
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Lynn Jordan: But of course, all are welcome to become better prepared for (00:27):
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Lynn Jordan: whatever happens next. (00:31):
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Lynn Jordan: A prepper SHTF scenario prepper (00:33):
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Lynn Jordan: speak for when the shit hits the (00:37):
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Lynn Jordan: fan. (00:38):
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Lynn Jordan: Or as Canadian prepper says, the shizzy hits the fizzy. (00:39):
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Lynn Jordan: Which never gets old is economic collapse. (00:42):
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Lynn Jordan: But you don't have to imagine waking up to headlines (00:45):
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Lynn Jordan: announcing a global financial meltdown when we're watching it (00:47):
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Lynn Jordan: happen in real time. (00:50):
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Lynn Jordan: Inflation is increasing. (00:52):
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Lynn Jordan: Grocery prices are the highest they've ever been. (00:53):
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Lynn Jordan: The jobs numbers haven't been this bad since the pandemic, and (00:56):
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Lynn Jordan: rent has never been this high for anyone while the housing (00:59):
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Lynn Jordan: market is taking a nosedive. (01:02):
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Lynn Jordan: Countries such as France and the (01:05):
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Lynn Jordan: Philippines are protesting in (01:06):
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Lynn Jordan: the streets over government (01:08):
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Lynn Jordan: corruption and wasteful (01:09):
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Lynn Jordan: spending, while reducing (01:10):
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Lynn Jordan: services and refusing to (01:11):
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Lynn Jordan: increase taxes on the wealthiest (01:12):
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Lynn Jordan: among them. (01:14):
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Lynn Jordan: If you're in the US, there's a reason the media isn't showing (01:16):
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Lynn Jordan: that stuff here, because that sounds painfully familiar, huh? (01:19):
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Lynn Jordan: So where do you stand in this (01:22):
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Lynn Jordan: rapidly evolving financial (01:24):
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Lynn Jordan: disaster? (01:25):
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Lynn Jordan: For millions of hard working, (01:27):
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Lynn Jordan: middle class Americans, it's (01:28):
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Lynn Jordan: shaping up to be a deeply (01:30):
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Lynn Jordan: personal crisis. (01:31):
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Lynn Jordan: At this point, it's too late to ask what would you do? (01:32):
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Lynn Jordan: But what if it isn't too late to make yourself financially stable (01:36):
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Lynn Jordan: before it gets even worse? (01:39):
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Lynn Jordan: Trust me, it can and it will. (01:41):
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Lynn Jordan: Here is my middle class, (01:44):
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Lynn Jordan: recession proof playbook to (01:45):
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Lynn Jordan: ensure your family doesn't just (01:47):
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Lynn Jordan: survive this, but emerge (01:48):
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Lynn Jordan: stronger, more resilient, and (01:49):
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Lynn Jordan: perhaps even thriving on the (01:51):
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Lynn Jordan: other side. (01:52):
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Lynn Jordan: Ready to dive in. (01:53):
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Lynn Jordan: Let's kick things off with play (01:55):
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Lynn Jordan: number one, which is secure the (01:56):
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Lynn Jordan: job. (01:58):
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Lynn Jordan: It's time to stop thinking of (01:59):
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Lynn Jordan: your career as just a job and (02:01):
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Lynn Jordan: start treating it like it's a (02:02):
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Lynn Jordan: business. (02:04):
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Lynn Jordan: You own companies. (02:04):
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Lynn Jordan: Let's be honest, they cut the nice to have roles first when (02:05):
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Lynn Jordan: times get tough. (02:09):
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Lynn Jordan: So your mission, should you (02:10):
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Lynn Jordan: choose to accept it, is to (02:12):
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Lynn Jordan: become an indispensable profit (02:13):
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Lynn Jordan: center they simply can't afford (02:15):
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Lynn Jordan: to lose. (02:16):
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Lynn Jordan: Here's how. (02:18):
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Lynn Jordan: Walk up to your manager and ask, what's the one metric, the (02:19):
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Lynn Jordan: single biggest headache that keeps you up at night? (02:22):
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Lynn Jordan: Then with laser focus. (02:24):
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Lynn Jordan: Tie your daily work, your projects, your entire existence (02:26):
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Lynn Jordan: in that role directly to improving that number. (02:29):
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Lynn Jordan: Make yourself the solution and (02:33):
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Lynn Jordan: please, for the love of your (02:35):
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Lynn Jordan: future, keep a running brag (02:36):
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Lynn Jordan: file. (02:38):
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Lynn Jordan: Every win, every dollar saved, every client retained. (02:39):
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Lynn Jordan: Document it all because when (02:42):
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Lynn Jordan: those dreaded layoff talks talk (02:44):
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Lynn Jordan: start. (02:46):
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Lynn Jordan: Whoever can prove their ROI, return on investment. (02:47):
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Lynn Jordan: Fastest, clearest and with the most impact is usually the one (02:50):
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Lynn Jordan: who keeps their chair. (02:53):
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Lynn Jordan: Update that resume tonight. (02:55):
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Lynn Jordan: Seriously, tomorrow is too late. (02:57):
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Lynn Jordan: If the axe falls at nine a m, you want to be on LinkedIn by (02:59):
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Lynn Jordan: nine fifteen, not scrambling, but with a headline that already (03:02):
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Lynn Jordan: screams value and expertise. (03:06):
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Lynn Jordan: Finally, and this is crucial, (03:09):
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Lynn Jordan: start a side micro-business (03:10):
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Lynn Jordan: something small, scalable that (03:12):
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Lynn Jordan: can grow if your primary hours (03:14):
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Lynn Jordan: get cut or your income takes a (03:16):
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Lynn Jordan: hit. (03:17):
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Lynn Jordan: One weekend of DoorDash or a few (03:19):
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Lynn Jordan: freelance design gigs can buy (03:20):
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Lynn Jordan: you incredible negotiating (03:22):
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Lynn Jordan: power. (03:23):
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Lynn Jordan: When your boss with that apologetic look says, we need (03:24):
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Lynn Jordan: you to take a twenty percent pay cut, or, well, you know, the (03:27):
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Lynn Jordan: second play is to slash the big three before you start nickel (03:32):
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Lynn Jordan: and diming your daily latte. (03:36):
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Lynn Jordan: Let's go after the financial giants housing, cars and food. (03:37):
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Lynn Jordan: These are the big rocks in your budget, and moving them creates (03:42):
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Lynn Jordan: a massive impact. (03:45):
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Lynn Jordan: First your mortgage. (03:46):
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Lynn Jordan: Calculate your break even point (03:48):
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Lynn Jordan: and only refinance if you can (03:50):
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Lynn Jordan: generally drop that rate by (03:51):
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Lynn Jordan: about at least zero point seven (03:53):
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Lynn Jordan: five percent, with a chance of (03:55):
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Lynn Jordan: recovering those closing costs (03:57):
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Lynn Jordan: within twenty four months, or (03:58):
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Lynn Jordan: you're in a position to make (04:01):
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Lynn Jordan: biweekly payments. (04:02):
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Lynn Jordan: That small change can shave years, sometimes seven or more, (04:03):
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Lynn Jordan: off your loan and save you a fortune in interest. (04:06):
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Lynn Jordan: Next car payments. (04:10):
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Lynn Jordan: If they're eating up more than (04:11):
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Lynn Jordan: ten percent of your take home (04:13):
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Lynn Jordan: pay, that's a flashing neon (04:14):
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Lynn Jordan: warning sign. (04:16):
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Lynn Jordan: It's time to get brutally honest. (04:17):
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Lynn Jordan: If you still owe on it and there's enough value to sell it, (04:19):
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Lynn Jordan: it may ultimately lower the payment on a downgrade to (04:21):
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Lynn Jordan: something more affordable. (04:24):
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Lynn Jordan: Or if you don't use your car every day, list it on Turo three (04:26):
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Lynn Jordan: days a week. (04:29):
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Lynn Jordan: Make that asset pay rent. (04:30):
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Lynn Jordan: Finally, food. (04:33):
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Lynn Jordan: This isn't about deprivation. (04:34):
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Lynn Jordan: It's about strategy. (04:36):
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Lynn Jordan: Meal plan with a vengeance. (04:38):
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Lynn Jordan: Thirty minutes on Sunday. (04:39):
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Lynn Jordan: Mapping out your protein, starch and frozen veg for the week can (04:41):
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Lynn Jordan: save the average family a staggering two hundred and fifty (04:44):
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Lynn Jordan: dollars a month. (04:47):
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Lynn Jordan: That's not just groceries. (04:48):
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Lynn Jordan: That's wiping out the need for a (04:49):
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Lynn Jordan: second side hustle just to make (04:51):
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Lynn Jordan: ends meet. (04:52):
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Lynn Jordan: It's about intentional spending. (04:53):
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Lynn Jordan: Next play is to build the 3-6-9 cash ladder. (04:57):
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Lynn Jordan: Cash, my friends, buys choices. (05:00):
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Lynn Jordan: It buys freedom. (05:03):
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Lynn Jordan: First step open a high yield online savings account. (05:04):
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Lynn Jordan: We're talking four percent or better these days. (05:07):
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Lynn Jordan: Label it boldly. (05:10):
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Lynn Jordan: DO NOT TOUCH. (05:11):
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Lynn Jordan: Then automate transfers the day after payday. (05:13):
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Lynn Jordan: Start small, maybe twenty five dollars every quarter. (05:16):
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Lynn Jordan: If you can, increase that by another twenty five dollars (05:19):
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Lynn Jordan: until the account is yanking fifteen percent of your income (05:22):
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Lynn Jordan: before you even see it. (05:24):
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Lynn Jordan: The goal? (05:26):
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Lynn Jordan: Three months of core expenses first, then six, then nine. (05:27):
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Lynn Jordan: Especially if your single income or self-employed, where income (05:31):
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Lynn Jordan: can be less predictable. (05:35):
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Lynn Jordan: And here's a smart move. (05:36):
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Lynn Jordan: Park one month's worth of that emergency. (05:38):
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Lynn Jordan: Cash in a money market fund inside a Roth IRA. (05:40):
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Lynn Jordan: Why? (05:45):
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Lynn Jordan: Because contributions can come out tax free in a true, dire (05:45):
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Lynn Jordan: emergency, and you still capture some market upside if the storm (05:48):
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Lynn Jordan: clouds never actually break. (05:52):
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Lynn Jordan: It's a win win for liquidity and growth. (05:54):
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Lynn Jordan: But note this is a short term (05:56):
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Lynn Jordan: solution, not a long term saving (05:58):
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Lynn Jordan: solution. (06:00):
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Lynn Jordan: The next play is really important delete toxic debt. (06:01):
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Lynn Jordan: It's time for a financial detox. (06:05):
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Lynn Jordan: Grab a piece of paper or a spreadsheet and list every (06:08):
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Lynn Jordan: single balance, every interest rate, and every minimum payment (06:10):
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Lynn Jordan: for all your consumer debt. (06:14):
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Lynn Jordan: Now here's the key. (06:15):
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Lynn Jordan: Don't wait until you're about to default or your credit score (06:17):
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Lynn Jordan: goes in the toilet. (06:20):
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Lynn Jordan: Attack the highest interest first. (06:21):
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Lynn Jordan: Not necessarily the smallest balance. (06:23):
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Lynn Jordan: That's, how you save the most money. (06:25):
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Lynn Jordan: Then get on the phone, call your (06:28):
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Lynn Jordan: credit card issuer, and politely (06:30):
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Lynn Jordan: but firmly ask for a rate (06:32):
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Lynn Jordan: reduction. (06:33):
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Lynn Jordan: You might be surprised to learn (06:35):
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Lynn Jordan: that many card issuers have a (06:36):
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Lynn Jordan: hardship program, and your (06:37):
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Lynn Jordan: chances are even better if you (06:39):
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Lynn Jordan: have a good credit score, and (06:40):
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Lynn Jordan: your chances are even better if (06:43):
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Lynn Jordan: you have a credit score in the (06:44):
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Lynn Jordan: good range and you've been a (06:46):
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Lynn Jordan: timely payer. (06:48):
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Lynn Jordan: If they balk, no worries. (06:49):
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Lynn Jordan: Move that balance to a zero percent promotional card and set (06:50):
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Lynn Jordan: up autopay to obliterate it before that promo period ends. (06:54):
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Lynn Jordan: And then, for the love of all (06:58):
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Lynn Jordan: that's financially sound, freeze (06:59):
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Lynn Jordan: the old card literally in a (07:01):
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Lynn Jordan: block of ice, because new swipes (07:03):
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Lynn Jordan: will absolutely one hundred (07:05):
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Lynn Jordan: percent undo all your One hard (07:07):
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Lynn Jordan: won progress. (07:08):
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Lynn Jordan: With that consumer debt reduced or gone, you can redirect every (07:10):
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Lynn Jordan: single freed up payment straight into your emergency cash ladder. (07:13):
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Lynn Jordan: You don't want to be caught barefoot when the economy slams (07:17):
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Lynn Jordan: on the brakes. (07:19):
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Lynn Jordan: Next, build a barbell portfolio. (07:22):
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Lynn Jordan: When it comes to investing for a recession, keep it boring. (07:25):
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Lynn Jordan: Seriously, boring is beautiful. (07:28):
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Lynn Jordan: Aim for what is called a barbell (07:30):
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Lynn Jordan: strategy, which is forty percent (07:32):
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Lynn Jordan: in a total market index fund, (07:34):
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Lynn Jordan: something like VTSAX or SPY (07:36):
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Lynn Jordan: giving you broad exposure to (07:39):
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Lynn Jordan: growth. (07:41):
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Lynn Jordan: Then thirty percent in short term treasuries or CDs locked in (07:42):
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Lynn Jordan: a five percent or higher rates. (07:46):
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Lynn Jordan: These are your anchors, your safe harbor. (07:48):
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Lynn Jordan: Add twenty percent in I bonds to hedge against inflation, (07:50):
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Lynn Jordan: protecting your purchasing power, and finally keep ten (07:54):
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Lynn Jordan: percent in cold, hard cash. (07:57):
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Lynn Jordan: This isn't about getting rich quick, It's about protecting (07:59):
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Lynn Jordan: what you have and positioning yourself for opportunity. (08:02):
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Lynn Jordan: Rebalance this once a year. (08:05):
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Lynn Jordan: Remember, recessions are when quality stocks go on sale, often (08:07):
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Lynn Jordan: at massive discounts. (08:11):
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Lynn Jordan: Those treasuries and cash give you the, quote unquote, dry (08:12):
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Lynn Jordan: powder, the capital to buy the dip without having to sell the (08:15):
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Lynn Jordan: roof over your head. (08:19):
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Lynn Jordan: Ignore the Reddit profits and the social media gurus. (08:20):
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Lynn Jordan: Nobody rings a bell at the bottom, so stick to your plan. (08:23):
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Lynn Jordan: With this information, you might want to think it over and speak (08:26):
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Lynn Jordan: with a financial planner so you can get a solid idea of what (08:29):
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Lynn Jordan: your particular situation is. (08:32):
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Lynn Jordan: Play six turn your home into a cash machine. (08:35):
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Lynn Jordan: Your home isn't just a place to live. (08:39):
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Lynn Jordan: It can be an underutilized asset. (08:41):
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Lynn Jordan: If you have a spare bedroom, consider listing it on Airbnb (08:43):
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Lynn Jordan: for just Friday to Sunday stays. (08:46):
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Lynn Jordan: Yes, you can rent just one room. (08:48):
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Lynn Jordan: Even one booked weekend a month may cover a utility bill. (08:51):
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Lynn Jordan: Think about that. (08:55):
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Lynn Jordan: If zoning laws say no to short term rentals. (08:57):
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Lynn Jordan: Get creative. (08:59):
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Lynn Jordan: Can you rent out your garage to a neighbor who drives for Amazon (09:01):
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Lynn Jordan: and desperately needs cheap, secure storage for their stuff? (09:03):
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Lynn Jordan: Or maybe a local small business needs extra space. (09:07):
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Lynn Jordan: While you're at it, don't forget to shop your home. (09:10):
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Lynn Jordan: Insurance carriers quietly, almost sneakily raise premiums (09:13):
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Lynn Jordan: five to seven percent every single renewal cycle. (09:17):
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Lynn Jordan: A quick thirty minute comparison (09:20):
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Lynn Jordan: call could save the average (09:22):
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Lynn Jordan: homeowner approximately four (09:23):
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Lynn Jordan: hundred and eighty dollars a (09:24):
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Lynn Jordan: year. (09:26):
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Lynn Jordan: That's money that can funnel straight into your Roth IRA. (09:26):
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Lynn Jordan: Building wealth while you sleep. (09:29):
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Lynn Jordan: Play seven skill stack like Lego. (09:33):
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Lynn Jordan: Recessions aren't just about survival. (09:35):
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Lynn Jordan: They reward adaptability. (09:38):
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Lynn Jordan: They reward hybrid talent. (09:40):
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Lynn Jordan: Think of it like building with Lego bricks. (09:42):
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Lynn Jordan: Pick one technical skill, maybe (09:44):
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Lynn Jordan: Excel pivot tables, basic Python (09:46):
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Lynn Jordan: coding or Canva design for (09:48):
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Lynn Jordan: marketing. (09:50):
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Lynn Jordan: Then pick one human skill (09:51):
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Lynn Jordan: presentation, negotiation or (09:53):
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Lynn Jordan: project management. (09:55):
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Lynn Jordan: Stack them together and suddenly you're not just a specialist. (09:56):
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Lynn Jordan: You become the invaluable Swiss Army knife that employers keep (10:00):
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Lynn Jordan: when specialists get chopped. (10:03):
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Lynn Jordan: Or you can offer as a side hustle. (10:05):
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Lynn Jordan: Where can you learn these? (10:07):
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Lynn Jordan: Coursera. (10:09):
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Lynn Jordan: YouTube. (10:10):
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Lynn Jordan: Your local library. (10:10):
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Lynn Jordan: They're all free or incredibly low cost resources. (10:12):
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Lynn Jordan: Dedicate just twenty minutes a night. (10:15):
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Lynn Jordan: In ninety days, you'll have a portfolio piece and a new bullet (10:17):
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Lynn Jordan: point on your LinkedIn profile that screams I make the company (10:20):
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Lynn Jordan: money, not drama Or another income stream that makes you (10:23):
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Lynn Jordan: stand out from others looking for extra work. (10:27):
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Lynn Jordan: Next play. (10:31):
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Lynn Jordan: Eight network when you don't need to. (10:32):
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Lynn Jordan: This might sound counterintuitive, but schedule (10:34):
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Lynn Jordan: one coffee chat a week with someone two levels above you not (10:37):
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Lynn Jordan: to ask for a job, but to learn. (10:40):
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Lynn Jordan: Ask them, what's the biggest (10:43):
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Lynn Jordan: pain point on your desk right (10:44):
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Lynn Jordan: now? (10:46):
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Lynn Jordan: What problem are you trying to solve? (10:46):
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Lynn Jordan: Listen intently. (10:48):
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Lynn Jordan: Take meticulous notes. (10:49):
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Lynn Jordan: Then within forty eight hours, follow up with an email offering (10:51):
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Lynn Jordan: a genuine solution, an article you read, a contact you know, a (10:54):
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Lynn Jordan: script you could draft. (10:58):
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Lynn Jordan: Do that ten times and you've (11:00):
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Lynn Jordan: quietly built yourself a hidden (11:01):
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Lynn Jordan: board of directors, a powerful (11:02):
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Lynn Jordan: network that will move your (11:04):
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Lynn Jordan: resume to the top of the keep (11:05):
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Lynn Jordan: pile. (11:07):
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Lynn Jordan: When HR demands a quick slash, (11:08):
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Lynn Jordan: store those contracts in a (11:10):
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Lynn Jordan: simple Google sheet and set (11:11):
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Lynn Jordan: quarterly reminders to ping (11:13):
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Lynn Jordan: them. (11:14):
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Lynn Jordan: Relationships just like cheap metal, rust faster than you (11:15):
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Lynn Jordan: think if they're not maintained. (11:18):
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Lynn Jordan: Play. (11:21):
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Lynn Jordan: Nine protect the downside with insurance. (11:21):
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Lynn Jordan: Let's talk about recession Kevlar disability coverage. (11:24):
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Lynn Jordan: This has saved me personally a couple of times when both of my (11:28):
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Lynn Jordan: husbands fell ill. (11:31):
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Lynn Jordan: If you depend on a paycheck, which most of us do, you (11:32):
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Lynn Jordan: absolutely need short and long term disability insurance that (11:36):
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Lynn Jordan: will pay usually over half your income until age sixty five. (11:39):
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Lynn Jordan: If you can't work, group plans through work are often cheap, (11:43):
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Lynn Jordan: but they're usually capped. (11:46):
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Lynn Jordan: Supplement that, if you can, with a portable individual (11:48):
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Lynn Jordan: policy while you're still healthy and insurable. (11:51):
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Lynn Jordan: And don't forget long term life insurance. (11:53):
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Lynn Jordan: Ten times your income is a good starting point. (11:56):
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Lynn Jordan: This is to keep your family in (11:58):
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Lynn Jordan: their home if the absolute worst (12:00):
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Lynn Jordan: happens. (12:01):
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Lynn Jordan: price both on comparison sites like Policygenius or through a (12:03):
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Lynn Jordan: trusted local broker. (12:06):
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Lynn Jordan: Lock in those rates before age thirty five, and I promise you (12:08):
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Lynn Jordan: you'll sleep better than the fed chair during a press conference. (12:11):
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Lynn Jordan: Even if you're older, some (12:14):
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Lynn Jordan: insurance options may still be (12:15):
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Lynn Jordan: available. (12:17):
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Lynn Jordan: And if you're fifty five or over (12:18):
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Lynn Jordan: and a member of AARP, they (12:19):
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Lynn Jordan: usually have insurance resources (12:21):
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Lynn Jordan: Play ten. (12:24):
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Lynn Jordan: Practice the worst case budget. (12:25):
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Lynn Jordan: This isn't about fear. (12:27):
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Lynn Jordan: It's about empowerment through knowledge. (12:29):
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Lynn Jordan: Open a spreadsheet and build the (12:31):
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Lynn Jordan: nuclear winter version of your (12:33):
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Lynn Jordan: budget. (12:35):
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Lynn Jordan: I'm talking beans, rice, mortgage, basic utilities, (12:35):
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Lynn Jordan: essential insurance, gas. (12:39):
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Lynn Jordan: Everything else dies. (12:41):
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Lynn Jordan: No subscriptions, no dining out, no new clothes. (12:43):
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Lynn Jordan: Multiply that bare bones total by six months and compare it to (12:47):
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Lynn Jordan: your cash ladder. (12:50):
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Lynn Jordan: If you're short, this is your wake up call. (12:51):
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Lynn Jordan: Sell that second car. (12:54):
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Lynn Jordan: Cancel every single streaming service and redirect kids (12:55):
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Lynn Jordan: activities to free library events or park adventures. (12:58):
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Lynn Jordan: Even better, run the experiment for thirty days. (13:02):
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Lynn Jordan: You'll prove to yourself and (13:05):
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Lynn Jordan: your family that you can survive (13:06):
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Lynn Jordan: on forty five percent of your (13:08):
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Lynn Jordan: current spending. (13:09):
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Lynn Jordan: This knowledge kills panic. (13:10):
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Lynn Jordan: And panic, my friends, is what makes people sell their (13:12):
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Lynn Jordan: investments or assets at the exact bottom of the market. (13:15):
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Lynn Jordan: Now, if these plays are (13:20):
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Lynn Jordan: resonating with you and if (13:21):
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Lynn Jordan: they're sparking ideas, do me a (13:23):
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Lynn Jordan: huge favor. (13:24):
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Lynn Jordan: Follow me on the socials and (13:25):
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Lynn Jordan: YouTubers hit those like and (13:27):
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Lynn Jordan: subscribe buttons, which helps (13:28):
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Lynn Jordan: show this video to others who (13:30):
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Lynn Jordan: may think this recession isn't (13:31):
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Lynn Jordan: happening. (13:33):
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Lynn Jordan: And seriously, drop your biggest worry in the comments below. (13:34):
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Lynn Jordan: Is it your job? (13:37):
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Lynn Jordan: Your debt? (13:38):
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Lynn Jordan: Your investment portfolio? (13:39):
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Lynn Jordan: Do you have a play that helped you when times were tight? (13:40):
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Lynn Jordan: Let's help each other out (13:43):
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Lynn Jordan: because unless you're in the one (13:44):
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Lynn Jordan: percent, we're all in this (13:46):
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Lynn Jordan: together. (13:47):
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Lynn Jordan: Now back to it. (13:49):
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Lynn Jordan: Play eleven is to capture opportunity in the chaos. (13:50):
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Lynn Jordan: Here's a secret nobody tells you. (13:54):
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Lynn Jordan: Recessions don't just create (13:55):
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Lynn Jordan: problems, they create (13:57):
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Lynn Jordan: millionaires. (13:58):
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Lynn Jordan: The stock market is doing well now. (13:59):
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Lynn Jordan: However, it may not stay this (14:01):
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Lynn Jordan: way forever based on what's (14:02):
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Lynn Jordan: happening and what appears to be (14:03):
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Lynn Jordan: coming. (14:05):
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Lynn Jordan: So when the Dow drops, thirty percent, quality stocks may go (14:05):
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Lynn Jordan: on a clearance rack sale. (14:09):
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Lynn Jordan: Keep a watch list of three companies you genuinely love. (14:11):
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Lynn Jordan: Companies with low debt, a wide economic moat, and products you (14:14):
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Lynn Jordan: actually use daily. (14:18):
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Lynn Jordan: Set a limit order twenty percent below today's price and keep (14:19):
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Lynn Jordan: that cash handy. (14:23):
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Lynn Jordan: The same goes for real estate. (14:24):
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Lynn Jordan: If you're looking to escape high rent but home buying still seems (14:26):
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Lynn Jordan: out of reach. (14:29):
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Lynn Jordan: Or you're looking for another property to have options. (14:30):
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Lynn Jordan: Get pre-approved for a mortgage now while you still have a W-2 (14:33):
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Lynn Jordan: and stable income. (14:36):
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Lynn Jordan: When you see a listing for a house, fifteen percent under (14:37):
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Lynn Jordan: 2023 comps because the seller is in a pinch, you can close in (14:40):
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Lynn Jordan: fourteen days and pick up a house or rental property. (14:44):
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Lynn Jordan: Fortune, as they say, favors the liquid play. (14:47):
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Lynn Jordan: Twelve. (14:51):
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Lynn Jordan: Automate good behavior. (14:51):
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Lynn Jordan: Let's face it, willpower is (14:53):
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Lynn Jordan: fleeting, especially when (14:55):
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Lynn Jordan: headlines are screaming doom and (14:56):
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Lynn Jordan: gloom. (14:57):
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Lynn Jordan: So stop relying on it. (14:58):
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Lynn Jordan: Automate everything. (15:00):
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Lynn Jordan: Automate your savings transfers, automate your bill payments, and (15:01):
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Lynn Jordan: set calendar reminders for rebalancing your portfolio. (15:05):
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Lynn Jordan: Use separate banks for checking and savings. (15:09):
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Lynn Jordan: That tiny bit of friction (15:11):
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Lynn Jordan: required for a same day transfer (15:13):
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Lynn Jordan: can be enough to stop an impulse (15:15):
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Lynn Jordan: buy. (15:16):
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Lynn Jordan: Turn off those stock app notifications. (15:17):
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Lynn Jordan: Checking prices daily is a recipe for an ulcer, not wealth. (15:20):
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Lynn Jordan: Instead, schedule a regular thirty minute money date once a (15:24):
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Lynn Jordan: month with your partner, or even just your dogs like I do. (15:28):
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Lynn Jordan: Review your net worth. (15:32):
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Lynn Jordan: Celebrate your wins and adjust your plays systems, my friends. (15:33):
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Lynn Jordan: Beat motivation every single time. (15:38):
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Lynn Jordan: Lastly, play thirteen. (15:41):
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Lynn Jordan: Mindset is the final asset. (15:43):
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Lynn Jordan: Here's the most crucial asset you possess your mindset. (15:46):
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Lynn Jordan: Recessions end. (15:50):
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Lynn Jordan: They always do. (15:51):
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Lynn Jordan: Since nineteen forty five, the (15:52):
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Lynn Jordan: average downturn has lasted a (15:53):
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Lynn Jordan: mere eleven months, and markets (15:55):
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Lynn Jordan: typically recover within twenty (15:57):
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Lynn Jordan: four. (15:58):
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Lynn Jordan: History doesn't guarantee the future, but it rhymes often like (15:59):
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Lynn Jordan: a country song. (16:02):
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Lynn Jordan: Replace those doom scrolls with a twenty minute walk outside. (16:03):
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Lynn Jordan: Exercise is arguably the only investment with a guaranteed one (16:07):
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Lynn Jordan: hundred percent return on your mood and mental clarity. (16:10):
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Lynn Jordan: Your family is watching how you react. (16:13):
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Lynn Jordan: Teach them the problems are meant to be solved, not feared. (16:16):
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Lynn Jordan: Execute these plays consistently, and I promise you, (16:19):
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Lynn Jordan: this recession and the next one won't just be a challenge. (16:22):
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Lynn Jordan: It will become a resume booster, (16:25):
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Lynn Jordan: a wealth builder, not a (16:27):
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Lynn Jordan: foreclosure notice. (16:29):
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Lynn Jordan: So what's your first move? (16:30):
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Lynn Jordan: Comment play one. (16:33):
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Lynn Jordan: If you're updating that resume tonight, or drop the number of (16:34):
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Lynn Jordan: the play you're stuck on, and I'll reply with some ideas to (16:37):
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Lynn Jordan: help you get unstuck. (16:39):
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Lynn Jordan: I realize that was a lot, but at (16:42):
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Lynn Jordan: this point, if you haven't been (16:43):
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Lynn Jordan: doing these things already, you (16:44):
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Lynn Jordan: need to hit the ground running (16:46):
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Lynn Jordan: now. (16:47):
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Lynn Jordan: Good luck and keep your head. (16:48):
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Lynn Jordan: Thanks for listening. (16:50):
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Lynn Jordan: Until next time. (16:51):
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Lynn Jordan: This is the urban prepper signing off. (16:52):
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