I have a panel of guests here to share our collective knowledge in these uncertain times. We will be talking about the current state of the economy and share our collective knowledge on how we can all get through it. We aren’t asking anything. We are here to help you and share knowledge and expertise that may be helpful. We would also like to give you access to our Facebook group to continue the educational conversation.
We understand that there is a lot of fear out there, and there are different stages of fear. One of the fears that many people have is the fear of immediate survival. Things like getting your next paycheck while you’re on lock down and having enough supplies all of these are weighing on people’s minds. We are also going to talk to people who are prepared, but have fear of losing their wealth. We are also going to educate you, help you remain calm, and make a plan.
You can find our panel here:“Our first plan is to get your numbers. What do you have coming in and what do you have going out? This is back to P&L and balance sheet basics.” -Loral Langemeier Click To Tweet
- [04:35] Randy Tate is the CEO of iFlip which is AI stock market software. It’s an AI stock managing platform.
- [05:33] It’s not just the stock market that’s affected right now. It’s all business and real estate. We need to solve this from a big perspective. All facets of wealth need to be addressed and thought about.
- [06:04] Randy has done speaking and training with Loral all over the world.
- [06:20] Adam is an expert in business and marketing and planning. Fix your marketing, planning, and how you can support your clients better.
- [09:42] If you’re laid off, welcome to being an entrepreneur. Lean in and learn.
- [12:43] iFlip is designed to use AI to predict downturns and get people out to avoid the big drops. This is better than just leaving your money there. They have a mobile app.
- [13:34] Kelly Korshak is the iFlip CTO he went to Stanford and has a degree in mathematics.
- [14:19] According to Kelly, this is a crash and a financial crisis caused by a virus. There is fear.
- [15:41] We are in a different world and no one could have predicted it. This is also an opportunity. Opportunity comes when there is fear to take that chance.
- [16:48] Amazon went up, and they’re going to hire a hundred thousand workers.
- [17:07] Everyone should make a financial plan to see how much money they can put aside to be able to make even a small investment in the market. This is the time to look to buy. The market is probably a bargain, even though it might give you pain when you first buy it.
- [18:03] There is panic right now. There is also a huge opportunity when people panic.
- [18:41] Stick with stocks that you understand.
- [24:26] Weldon is talking about tax guidelines. So far we have a 90 day delay. That can be part of our planning as far as payments due.
- [27:21] There should be a stimulus package sent to taxpayers too. As of this recording, it is still being hashed out. This is an opportunity to prepare.
- [30:14] It’s a good idea to find out what your numbers are and make payments accordingly.