I will be DEAD BROKE NEXT RECESSION | Summary and Q&A

TL;DR

The content discusses the author's concerns about how a future recession could severely impact their multiple income streams, including their real estate marketing company and YouTube channel.

Key Insights

• 🍻 The author relies on multiple income streams, including a real estate marketing company, YouTube channel, book sales, and affiliate links.
• 👨‍💼 A future recession could significantly impact their real estate marketing business, as demand for their services may decline.
• 🥺 The author's YouTube channel could suffer during a recession, leading to reduced ad revenue, book sales, and affiliate link clicks.
• 🧔 They worry about their ability to handle a stock market crash and navigate a bear market effectively.
• 🤑 One way they plan to prepare for a recession is by writing a comprehensive book on making money during a recession, focusing on opportunities in real estate, stocks, and other areas.
• 📔 Advertising the book extensively on multiple platforms during a recession could help generate income.
• 🪡 The author acknowledges the need to prioritize their YouTube channel while also focusing on writing the book.

Transcript

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Questions & Answers

Q: What are the author's main sources of income?

The author earns money from their real estate marketing company, YouTube channel ads, book sales, and Amazon affiliate links.

Q: Why does the author believe their real estate marketing business would be heavily affected by a recession?

During a recession, fewer homes would be sold, resulting in a reduced demand for professional photography and video services. Additionally, realtors may not be able to afford extra projects like videos and drone pictures.

Q: How would a recession impact the author's YouTube channel?

A recession could lead to a decrease in channel views, which would subsequently affect the revenue earned from ads and affiliate links, such as book sales.

Q: What worries the author regarding their ability to navigate a recession as an investor?

Although the author has knowledge about the stock market, they have never participated in a true bear market or stock market crash. They are uncertain about their ability to successfully navigate such scenarios.

Summary & Key Takeaways

• The author has multiple income streams, including a real estate marketing company, YouTube channel, book sales, and Amazon affiliate links.

• They believe that during a recession, their real estate marketing business could suffer greatly, with a potential drop of 80-90% in revenue.

• The author is also worried about the impact of a recession on their YouTube channel, as fewer views would lead to decreased revenue from ads and a decline in book sales and affiliate link clicks.