By all accounts, the pandemic is far from over, and if you are lucky enough to be employed right now, you probably shouldn’t be too financially complacent. Last quarter, U.S. GDP, dropped 32%, the biggest quarterly decline in American history. While some people think the economy will miraculously bounce back when we have a vaccine and the pandemic is over, I’m not so sure. There are millions of businesses that will close for good in the coming months and there will be a lot of people unemployed. I think the worst of our recession may still be in front of us. I’m not trying to spread doom and gloom, but trying to encourage caution. I would advise everyone to reduce their long-term financial obligations and remain as liquid as possible. Real estate is almost always a good investment, but it is not the most liquid, so make sure if you invest in real estate, you have plenty of liquid assets that you can tap into if you need them. Small landlords are getting hurt right now because a lot of people are not paying rent. Cash is king, so it doesn’t hurt to keep some money in cash, and if you invest in a business, invest in something with a relatively low-cost structure, especially if you are closer to retirement than you are to getting started. Low cost, high-margin businesses are always the best for smaller entrepreneurs – especially in times like now. Stay liquid, my friends…
Some call it selfish; I call it the American way. In this episode, I break down why voting for policies that improve your life isn’t just your right—it’s how the system was designed to work. When we vote our own interests, we build a country that works for everyone.
Michael Jordan wasn’t picked first in the NBA draft—he wasn’t even picked second. Why? The Portland Trail Blazers hired for position, not for talent, and passed on the greatest basketball player of all time. In this episode, I explain why employers make the same mistake, and why the smartest leaders hire the best people they can find—regardless of position.
Politicians on both sides have overreached—ICE raids and the war on DEI have gone too far, and history tells us there will be a rebound. In this episode, I explain why attacks on Latinos may end up uniting us more than ever before, and why the backlash could be a turning point for our community.