Sign up to save your podcasts
Or
Share How Do We Get Through This?
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
How Do We Get Through This?
As we work our way into the start of the year, something that’s on a lot of people’s minds is, “What the hell is going on with the economy?”
Canada’s inflation rate has hit an 18 year high at 4.7%, and it's almost double that for our neighbours to the south. Housing prices are skyrocketing, food has jumped massively in price, supply chains are stressed, if not breaking down entirely…
what does it all mean to me?
Well, this is a bit of a touchy subject for some, but I’m always reminded of what the great orator, Jim Rohn, used to say.
Whenever Jim was asked what he thought the economy would be like in the coming years, his response was always the same.
“About the same as it’s been for the last 10,000 years of recorded history.”
Human history has always been a mix of prosperity and poverty, turmoil and triumph. Some people blame the politicians, some blame the virus, some blame their neighbour’s dog. The fact of the matter is, when the winds start to blow in a different direction, you have to set a different sail.
It’s up to us to determine our direction, regardless of the wind that’s blowing.
For example, 2008 was one of the worst financial collapses in history. People lost fortunes, and businesses closed. Yet we marched on as a species.
In fact there are a lot of people who made fortunes during that time because they were able to pivot.
I think specifically of one friend that told me a story about how 2008 was the best thing that could have happened for him. He was working at the bank just after the collapse happened. He realized that his pay increases weren't keeping up with inflation and he was making less money every year. So he decided to start investing in real estate.
Right after the collapse you didn’t need a down payment to buy a home. This created massive opportunity to those who had set their sails to the changing winds.
Now, 14 or so years later, he runs a super successful real estate business with his wife, and he’s never looked back.
No matter what’s going on in the outside world, we all have the ability to pivot when things are changing, and that’s exactly what we’re talking about on today’s episode of the “Investment Property Income” podcast.
www.guidetothegrind.com
View all episodes
By Jonathan Tillger & Geoff Edie
5
22 ratings
As we work our way into the start of the year, something that’s on a lot of people’s minds is, “What the hell is going on with the economy?”
Canada’s inflation rate has hit an 18 year high at 4.7%, and it's almost double that for our neighbours to the south. Housing prices are skyrocketing, food has jumped massively in price, supply chains are stressed, if not breaking down entirely…
what does it all mean to me?
Well, this is a bit of a touchy subject for some, but I’m always reminded of what the great orator, Jim Rohn, used to say.
Whenever Jim was asked what he thought the economy would be like in the coming years, his response was always the same.
“About the same as it’s been for the last 10,000 years of recorded history.”
Human history has always been a mix of prosperity and poverty, turmoil and triumph. Some people blame the politicians, some blame the virus, some blame their neighbour’s dog. The fact of the matter is, when the winds start to blow in a different direction, you have to set a different sail.
It’s up to us to determine our direction, regardless of the wind that’s blowing.
For example, 2008 was one of the worst financial collapses in history. People lost fortunes, and businesses closed. Yet we marched on as a species.
In fact there are a lot of people who made fortunes during that time because they were able to pivot.
I think specifically of one friend that told me a story about how 2008 was the best thing that could have happened for him. He was working at the bank just after the collapse happened. He realized that his pay increases weren't keeping up with inflation and he was making less money every year. So he decided to start investing in real estate.
Right after the collapse you didn’t need a down payment to buy a home. This created massive opportunity to those who had set their sails to the changing winds.
Now, 14 or so years later, he runs a super successful real estate business with his wife, and he’s never looked back.
No matter what’s going on in the outside world, we all have the ability to pivot when things are changing, and that’s exactly what we’re talking about on today’s episode of the “Investment Property Income” podcast.
www.guidetothegrind.com