In the face of a hurting economy, what should you do to prepare? Will it make a quick recovery or are we in this for the long haul? We’ll hear what Brian thinks about Larry Kudlow’s perspective regarding the economy.
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White House economic adviser Larry Kudlow believes that this might last another month or two, but it will be a temporary economic downturn before we make an economic recovery. If we follow this optimistic perspective, how should we prepare?
There are a lot of true concerns with the economy right now. Unemployment is high and many others are waiting to go back to work in the same capacity as in the past. Production has halted altogether in certain industries, making it hard to imagine the economy just restarting suddenly. For starters, can you imagine being comfortable going into a crowded event right away, even if it’s allowed?
So, what should you be doing with your money? Whether you are preparing for a quick recovery or the potential for this to last longer than we hope, be looking at every angle. Are you maximizing tax strategies right now? Take advantage of any way you can get money back in your pocket, whether it’s investments or tax savings. There may be opportunities available right now that you want to make sure you don’t overlook. Brian talks through several examples of ways you can strategize and leverage your assets.
Listen to the full episode with the player above or click on the timestamps below to skip ahead to a particular segment.
[0:16] – No one knows how long this economic slowdown is going to last.
[1:57] – We are all feeling ready for life to go back to normal.
[3:56] – There will be different levels of comfort when things open back up again.
[5:01] – These current restrictions may cause some people to try to rebel.
[7:12] – What should we be doing?
[8:28] – Is there a way to benefit from the current situation?