Can crisis and opportunity co-exist? They can in your financial life, and we’ll share some of the silver linings.
Empty nest crisis
For some parents, this is a joyous time. But for others it comes with a lot of sadness because your kids are leaving the nest.
It’s usually good news, though, from a financial standpoint because you shed all these expenditures and expenses that you have with your children. Now, maybe you can start being a little more aggressive with your savings.
Bear market crisis
A down market can be a very distressing time. But market crashes can be a massive transfer of wealth from people who panic to people who are patient. You want to buy low and sell high.
If you have cash on the sidelines, it could be a good time to put some additional money into the market during a market crash.
Listen to the entire episode or jump to specific sections using the timestamps below.
Navigating the Show
[2:23] – Empty nest crisis
[5:07] – Bear market crisis
[11:32] – Layoffs
“You might realize that you’re in better financial shape than you thought you were.”
– Michael Schulte