– Today, I wanna share something very, very important with you and that is, how do you protect yourself from the upcoming downmarket
and economic crash? (upbeat music) Now, if you even follow Ray Dalio’s work or a lot of the different thought leaders in terms of economics, you
would know that a crash is coming, a huge crash is coming. It’s just a matter of time
because of the debt in US and because of number of issues. With AI, with technologies,
a lot of those jobs will be replaced by technology
and artificial intelligence, so how do you protect yourself? I wanna give you two or three good ideas to really think about and
what are some of the things that you could do today
to protect yourself and secure your financial future? Now, it’s not okay to just think, oh yeah, that’s not gonna happen, or that’s not gonna apply to me. This is one of those scenarios
that it pays to think ahead, to prepare yourself, to equip yourself. When this happens, what do you do? Number one, knowing, expecting
that a crash is coming. I want you to think about the
jobs that you are working at, the business that you’re
running right now. Ask yourself the question,
what could make that obsolete? What could make what I do obsolete, right? Could technology affect what I do? Or a change, in terms of
policy, recollections, any of this economic downturn,
what do I need to do? So, instead of, and that’s
something I’ve been saying, I’ve been preaching for
a long period of time, and that is, instead of thinking, now we’re no longer in a job economy, we’re in a skill economy, that
you need to think much more like an independent person. What skillset that you offer,
it could be to companies or to different businesses
or to the marketplace, instead of thinking, oh, a
job will provide for you. You need that flexibility, right? Developing what I call
the high-income skill and I have a number of videos on YouTube, you can search on YouTube,
Dan Lok high-income skills, you will find that. So, don’t think, oh, I’m
still in a job economy. That job economy, the credentials economy, where a piece of paper, a piece of paper is not gonna protect you when there’s an economic downturn. A piece of paper is not gonna prevent you from being laid off, a piece
of paper is not gonna prevent that industry turn upside down and then, this massive change that’s happening. It’s not gonna protect anybody. What no one could take
away is your skillset, the value that you know you
could provide to people, to the marketplace, to companies. No one can take that away from you, so focus on skill, not just a job. Number two, if you’re
serving a local market, if you are making money
and generate income from just working with and
serving people in your city, expand that, so instead of
focusing on local market, how can you take what you do and offer to a more global market? So, when there’s economic
downturn in your country, and I know I have fans all over the world, in your country, or in your city, you’re not depending on it
when you are serving people in so many different
countries ’cause usually, when there’s an economic
downturn in this country, this is booming, right? If there’s a problem with this
country, and this is booming, so instead of focusing on a local market, serve a global market. Third thing that you could
protect yourself and that is, make sure, when some of
the investments you have, put yourself in a more a cash position instead of betting everything
you have in the stock market and things like that when
there’s economic downturn. What gets people into trouble
during these tough times is lack of liquidity. They don’t have cash. When you run out of
cash, you’re in trouble. Doesn’t matter as an individual and it doesn’t matter as a company, so almost be a little bit paranoid instead of being overly optimistic, looking at your cashflow,
looking at your cash reserve, especially when you know, I can sense something is happening. It’s okay, you don’t need to maximize your return all the time. People say, oh, but cash is trash, that I always wanna put all my money and invest all my money,
well, when you over-leverage and when there’s an issue,
when there’s economic downturn and you don’t have cash,
all that better return, a few point extra in here and there, that’s not gonna help you
if you don’t have liquidity, so during these times, have cash on hand. It is okay and when you have cash on hand, there’s so many opportunities
in the marketplace, things that you can invest in
when you have cash on hand, so those are the three tips that I have if you want to protect
yourself from economic downturn and if you want to secure
your financial future for yourself and for your family, make sure you click the
link below and check out my new four-part training
series on how to develop the number one skill that I believe that is recession-proof, how
to recession-proof your income, the one skill that you
need that has helped so many of my students
from all over the world. – Super stoked, really, really pumped. I got a boom today, I got
a couple of booms today. I walked into the shop, I got a couple of leads straight away, I brought them to the
dive shop, I closed one, and I got, like maybe five
minutes later, I closed two more, so three booms just smashed that goal out of this place, man. Smashed it. – So, click the link and
check that out today.

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100 thoughts on “How To Protect Yourself From An Economic Crash”

  1. Imagine you could get ONE piece of

    information from me to help you…

    What would that be?

    Comment below, and if you enjoyed

    this advice, don’t forget to hit the ‘’like’’

    button.

  2. Nice video ❤🔥🔥🔥..Lov from India…..and You have a very impressive thumbnail Sir❤

  3. Sometime the economic crash doesn't effect much people who work for others, but mostly for investor & company. People affected due buying power became less and much more reason for it.

  4. Hey Dan one of my friend from Manipur India, looks like you. And He is a advocate in Highcourt… I shared your video with him… He was happy to know that.

  5. 2024, the year of the greatest recession. Be prepared, my friends, for: United We Stand, Divided We Fall.

  6. I always thinking my business are safe because of the country support it self sir. But if such things happened maybe i'll got warn and have enough time for liqudify.

  7. Having a high income skill that you can keep and use for the rest of your life is the way to go, and I am lucky to have found the HTC program to learn that skill. Thank you Sifu Dan for program and all your teachings!

  8. I’ll teach rich people Gung Fu they’ll need it to protect themselves from the hordes bent on taking their property. Oh, it’s also good for health in the mean time. Contact me 😉 😂

  9. I can tell you right now that unions will never let robots take people jobs. It’s going to be a very ugly battle. Some jobs in certain industries will not became autonomous because of unions. There’s just way too much money involved.

  10. Work smart and intensively through skill – yes, serve a global market – yes. Build liquidity – ok.

  11. Mr Lok….everyone is talking about economic crash these days….so it is not going to happen soon

  12. Hey Dan… cash can vaporize in hyper inflationary situations right? Do you suggest food security and survivalist kind of mindset and skills?

  13. Sir, i am a student from india,i am doing engeering just because of my parents i know i will be definately poor because there is no scope for engg. In our country so after this i wann to quit and do what i want ,what i am good in that will definately make me rich ..but sir parents and family stops me ..my whole life will gone waste what i do????

  14. What is the best advice you have for current college students? In regards to debt building wealth and what are the best things to start doing now? I am a 19 year old college student and I am a rising college sophomore and I feel like I’m doing it all wrong. I would love to know what I shouldn’t be doing as a college student as well as whether or not going into debt for a degree is worth it? I am an international business major and I just want to know whats the best thing to do now. Thank you for taking the time to make these videos they are very informative interesting and helpful 👍

  15. Thanks for the tips Dan!!:) I'm currently working on a program with Tai Lopez, which is SMMA 2.0 (Social Media Marketing Agency) I will say it's amazing and useful skill to have.

  16. Thank you Dan. I provide Blockchain technology solutions with my company. So when the crash comes, people will call me like crazy to know how to invest in cryptocurrency. I am shure. Then I would need a good sale training. See you soon.

  17. I would normally agree with you Dan on point 3, however this time around Fed policy is hell bent on devaluing cash. I do believe over the next few years cash will be trash.

  18. Can't wait to destroy some paycheck to paycheck mother fuckers who spend half their paychecks on bills! Bring it on depression!

  19. Hey Dan, what would you say about gold and silver for a long term plan for maintaining purchasing power..?? Investment..??

  20. I've learned a lot of things because of you. You open my mind in the different world. Thank you so much po. 😊

  21. Would precious metals be a good substitute for cash during a crash? Little bit less liquid but the value is gauranteed not to be printed away.

  22. That is so true about a piece of paper. I got laid off from the US MIlitary 3 years before my contract is finish 7 years ago…. now I am still alive because I built up my skills and finish my degree…. now to have that cash flow!

  23. I think that I will be safe because I developed skills that are in even higher demand when the market crashes.

  24. 3:30 I am doing just that already. I got European and Japanese Twitter where one works during the day and the other at night. And Facebook groups in several languages. And Instagram in 5 languages. I could be ahead of the curve.

  25. Crash what.. All the NFL player wanting big money this season, how can the owner pay them ,if the forecast that economic cash are coming and no one can afford to go to the game if (AI) taking over job and people have no .than sport venue mean shiit to them.

  26. Hey Dan, what's your thought on maximizing one skill, vs. building up two or three skills at once that harmonize with one another?

  27. Yee, theese are really important 3 skills for us and our next generation. As for me, I try to develop my skills everytime, necause now we have an economic of brain.

  28. You are great man you give soo much valuabe knowledge that no one else gives. Dan im waiting to see myself like you.

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