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Highlights from this episode include:

  • How having a life-changing opportunity fall into your lap hurts you more than it helps (3:01) 
  • The one skill that’s made Michael Jordan, Tiger Woods, and Oprah Winfrey unbelievably wealthy (and how to harness it yourself) (3:21) 
  • Why you should never believe the doom and gloomers of the stock market (and how to make profitable investments during a crash) (7:34) 
  • How the “Cash Reserve System” helps you recover from a nasty market crash in as little as 18 months (even if it takes years for the market to recover) (10:58) 
  • 3 industries that recover quick fast after the market takes a nosedive (12:13) 

Ready to stop doing what you hate? Go to https://RetireNowRetireWow.com and fill out the Game Changer form to secure your financial future.

Get our 5 Year Countdown to Retirement Guide and make sure you’re on track to retire (no matter where you are in your career). Visit brightfg.info/5yeargui

Read Full Transcript

Do you hate the thought of working past 55 or 60? Do you hate not being able to live the life you deserve today? Do you hate not knowing what your financial future looks like? It's time to stop doing what you hate, here's your host, Mr. Harold Green.

(00:20): Oh, hi everybody. This is Harold Green and it is time to stop doing what you hate. How are you doing today? I hope you are having a great day. I hope you have had a great week. And I am definitely looking forward to sharing during today's show with you. And a title of today's show is don't believe the hype. And I'm taking this from one of my favorite rap songs by one of my favorite rap groups, and that is public enemy. And one of my favorite characters is flavor flave and you know, he would have the big clock around his neck with all the jury and, you know, he would come out and he would see ye a boy. And that, that was just one of my all time praises. But before I get into today's show, I want to dive into a little bit about where we are right now. I think as of the airing of today's show, it's probably still black history month. And you know, I, I always like to sit back and reflect a little bit on black history month.

(01:32): And I want to share a little bit with you guys about my own life and you know, what black history month has meant to me. And I look back on all the struggles and all the things that people of color African-Americans have gone through and, you know, just having one month to reflect on it and to talk about it. I think it's important. Should we have a black history month? I have mixed emotions about that because you know, there's a lot of different oppressed people all over the world and to continually singling out, you know, one group over the other, yes. Things have been set in motion and yes, I understand all of that, but, but for me personally, I like just to reflect back on, you know, what we've gone through and the opportunities that we have been afforded as African-Americans. And you know, one of the things that I take away from, from black history and from, you know, not just history, but what's happening today is the fact that we have the ability to become successful.

(02:41): You know, we F I, I believe everybody was born with gifts and talents and things of that nature, but you have to have the right opportunity, come your way. And I've talked about this before. Opportunity does, does not find its way to lazy people or non diligent people, opportunity finds its way too skillful people. And I'm going to be straight up with you. If you just give somebody an opportunity, that's not prepared for it, they're going to run things. It's going to hurt them. It's going to set them back so far. It does more hurt than good, but I want to look at some of the most successful African-Americans in history, and I'm going to point out like maybe one or two, and there's a bunch of them, but you are going to see a very common trait. Okay. We have Michael Jordan, we have tiger woods.

(03:31): We have Oprah Winfrey. Okay. We have Mr. Johnson who founded the ITI. We have certain politicians like president Barack Obama. You know, we, we we've had some extremely successful African-Americans, you know, in our, in our presence and in our midst. And the one thing that they all have in common is this. They all have the ability to communicate on an extremely profound and proficient level. I'm going to say that again. They have the ability to communicate on a profoundly, proficient and meaningful level. Okay. And if you look across some of the other things that they've done, you can see some other similarities, like they're not quitters and they don't give up. And that's one of the things that I take away from black history month is there's been a lot of black successful people and still are to come. And the key is, is to never give up.

(04:37): And I want to talk about some things that you know, people put out there and they talk about systemic racism. They talk about oppression, they talk about lack, lack of equity and equality. They talk about all these things. They talk about all these things. And yes, I have at times been subjected to these things. However, the one thing that I understand is this, and I've had to learn that lesson painfully this week with a situation that I had to go through, and that is this, no matter what happens, never let a failure define you, like never let a failure or a setback define you. And you know, it happened early in the morning and usually that's like a bad time for me because then it kind of sets the tone for the rest of the day. And I had an opportunity to, to have lunch with a friend of mine and, you know, just kind of talk through what happened.

(05:42): And you know, he said, would you have done anything different? Am I answer is probably, absolutely not because it's what I do, you know, on a day in and day out, it's what I do. I give it 110% because that's what I do. Whether I'm having a good day or a bad day, it's become ingrained in me that it's what I do. And never let any type of incident or any type of setback, whether it's racism or yeah, whatever it might be, do not let it define me because I'm always looking ahead. I'm always planning ahead. I'm always moving forward. I'm always giving it everything I can for my clients. And I've learned to communicate on a profoundly efficient and meaningful level. And that's gotten me to where I am today. It all started when I was in high school, I was in student government and I was a president of the parent teacher, student association.

(06:39): And it's all because someone told me I had to drop my, I saw there in English and learn how to speak so that people could understand what I was saying. And it was a challenge for me because I started that. And, you know, I was the only black kid in school that, you know, didn't, that would speak proper English and, and adopted that. Now, like there's other people that are successful, that, that don't see it that way, but it's, that's my life. And that's what I've had to go through so that I can be here today with you sharing what I mean, sharing. So I know that was a long intro, but we're going to get into don't believe the hype and this show is centered around what's happening in our economy and the stock market and different things of that nature. And I want to address one of the biggest idiotic viewpoints that I've come to understand that it is totally Ms.

(07:43): Represented, and that's this, the stock market is going to crash and you're going to lose all your money. So you need to put it somewhere safe. Right? I've heard that so many times. And at one point in my life, I have been a little guilty of that myself, but I quickly learned, and I pivoted and I figured out what it takes to help clients protect their money so that if something were to happen, we have the ability to recover. So let's go back back into 2008 and look at what happened with the financial crisis and different things of that nature. Yes, the market. It did take a dive, but I'm going to be honest with you guys. We're going to be talking about investments. So investments carry risk of loss. So I encourage you guys to go out there, understand your due diligence, talk with an investment advisor, do your own research so that you can make informed decisions about your investing because past performance is no guarantee of future results.

(08:48): Now there is a track record and the market of it going up and down, and that's called volatility. Sometimes stocks go straight up. Sometimes they go straight down. Sometimes they trade sideways, which means they're going to be holding at, within a range of, you know, a few dollars here and there. And then they break out or, you know, they go lower. It just kind of depends on what's going on with that company. So that was one of the biggest fears my clients had was people were telling them, you know, the stock market is going to crash and you're gonna lose all your money. What happens if the market crashes? I got that question so many times before March or February of 2020. And I said, yes, the market is going to take a dive. And I had been telling people that for like the last three or four years, the market is going to take a dive, whether it be on a war or some sort of issue, the market is going to take a dip and you have to understand that it is going to go down, but you will have the ability to recover if you have the right strategy in place.

(09:52): And so, yes, the market did go down. It went down pretty big. Some stocks are down 70%, but what we did to minimize the damage was we rotated out of some of these riskier assets into less risky or assets or assets that weren't correlated directly with the market. Things like treasury. Yes, like bold metals cash. We rotate it. We didn't sit there and like, let the portfolios burn up. Like some people did. And some of I'm still probably haven't recovered because they're still sitting there holding the same things that, you know, they didn't rotate or do what they needed to do. And some people got out at the wrong time. Then they got in at the wrong time. And that's another big issue. I see people getting in and out at the wrong time and there is a strategy to getting in and getting out.

(10:41): But you have to understand, like I said, in one of my previous shows about setting you up or exit strategy, your entrance strategy and your exit strategy. So you guys all know about my rapid retire program, the three main components, cash reserve system, income generation, and cashflow management. Well, here's one of the tools and rapid retire that will help you during a market downturn. And it is called the cash reserve system. And I encourage everybody to have at least a year to, you know, maybe 18 months of income or, you know, monthly expenses and their cash reserves system. And that's very, very important because during a market downturn, here's the thing. When the market took a dip last time, it took about five years for the S and P 500 to fully recover from that. And, but if you were invested in certain strategies, the recovery time was basically 18 months.

(11:38): Okay. So one of the things that I've seen in my experiences, this, when the market takes a dive, right, you have to understand like how much further it's going to go down. And if things are really, really bad, then you have to rotate positions to something safe and wait and figure out where there is a pulse, okay? Because some companies may get beat up, but they don't die. Some companies will die and you have to understand once they get out of those and to rest, and then find companies that have a fault. And that's when you, you get back in. So one of the things that I always think about when the market takes a big dive, what are some of the first things to come back? And I've seen this many times before, it's basically travel and leisure and retail because people have gone through things.

(12:27): And then when they recover, they want to enjoy life a little bit. Now that's this generation, previous generations like to hell with that. I'm not, I'm not going to spend any more money ever again. I'm going to save it like the great depression. And that's how we have seniors that now are running to the, into these issues of portfolio failure, because they think that market they've been through that. They lived it and they saw what happened and they don't want that to ever happen to them again. So they, they live in safe mode so much so that they don't, things like paid off their homes, right? And they haven't invested their money and ways that are, are meaningful to their longterm success. And so we have the creation of things like reverse mortgages, right? Where now have any income and you're living on a fixed income.

(13:10): And the cost of living goes up and up and up. But you're investing in a way that they tell you, okay, three or 4%, you gotta be on safe mode because you don't want to run out of the money. And so therefore, to mitigate that, we have the good system of short-term intermediate and long-term to help mitigate that portfolio failure. So your cash reserve system is very important in your long-term planning strategy of short-term intermediate and long-term are very, very, very important too. So if you're out there and you're listening and someone tells you, Hey, this stock market is going to crash and yes, tell them, yes, the market is going to crash. I know that, okay. But I understand my advisor has a plan so that I can recover. And as a matter of fact, our clients have recovered from Corona virus so much so that some of them are up a hundred percent over the last year and their portfolios because we rotated properly.

(14:07): Okay. So if you're out there and someone's telling you that, and I'm going to tell you straight up, don't believe the hype, right? The market is going to go down and it's going to come back up, but we have to have the right strategy in place. And so that is you and you are looking for someone to help you get from where you are today. And to help you stop doing the things you hate, then you got to check me out, go to my website, retire now, retire wild.com, download the rapid retired brochure, take a look at that. And I'm serious. Take a look at that and then give me a call so that I can help you figure out your straps energy for the next market downturn. Right now, as I record this show, the market is, is doing really well. We're up probably in some accounts, like maybe 15, you know, for the year, but there's a lot that goes into that.

(14:54): We were up basically 19% before coronavirus happened for a lot of the accounts. And so, you know, there are ways to recover, but you have to have an active manager overlooking your assets. And then again, too, here's another thing I forgot to mention here. A cash reserve system will give you funds and it would give you the ability to take advantage of opportunities out there when things do happen when the economy does pull back, because people are going to be looking at getting out of certain real estate things out of certain business ventures. And then that gives you the chance with your cashflow surplus, and then also your cash reserve system to put big chunks of money down, to take advantage of opportunities. And so give me a call, check out the website, and I would love to help you get from where you are today and just like really help you build a super bright and exciting future. So thanks for letting me share with you guys today. Thanks for listening to me, rant and rave a little bit. And until next time everybody, one, two, three, let's get it.

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