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"What a month this week has been?!" COVID-19 has forced "non-essential" businesses have been ordered to shut down. People are confined to their homes and advised to stay home. The economy is in a free-fall. It's a crazy time to be alive right now. Even crazier, it could get much worse before it gets better. So what steps can you take now to protect your personal finances? How can you protect your family not only from the COVID-19 pandemic but also from the coming recession that could result from all of this economic unrest? Let's dive in and talk defense.

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[EDITOR'S NOTE]: Listening back to this episode, I realize that the tone may sound alarmist or pessimistic. I want to clarify: while I do have global concerns and I laid out some realistic scenarios, the goal of this episode is not to invoke panic or anxiety, but to instill hope and confidence. Regardless of what's going on in the world, I want you to feel empowered and in control. When things around you feel like they're spinning out of control, there are steps you can take to focus on what you CAN control. You can't change the cards you're dealt, but you can change how you play your hand.

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IN THIS WEEK'S EPISODE

* What's going on with COVID-19?
* Surviving COVID-19
* How COVID-19 is leading to another recession
* How to protect yourself from a recession

COVID-19 Craziness
Man, it has been too long of a break! It’s been a full 26 months since I checked in with you last. Or, for those of you just coming across this show, it might have been a full 30 seconds since you streamed the last episode.
I’ll tell you what: a lot has changed since then: getting laid off, landing a new job, adding a new baby to the mix, moving homes, and of course plodding along on our path toward modest millions, which comes with its own changes in our investment philosophies and strategies. It’s a longer episode (or episodes) for a different day, and I hope to bring that update show to you soon.
But for today, I wanted to address how current events might shape our futures, both in the short-term and the long-term.
I’m recording this from the friendly confines of our closet because with both myself and my wife working from home and our kids home from school and daycare due to the COVID-19 lockdown, this is the quietest place in the house right now.
Today is Thursday, March 26, 2020. I’ve stopped and started recording this episode several times over the past week, and even within that time, the world has shifted a ton in that time. Right now, Minnesota is gearing up for a “stay in place” directive from the governor, falling in line with many other states. Essentially, much of the economy is grinding to a halt in an effort to stave off the spread of the virus. By the time you listen to this episode, the situation will likely look different and might prove some of these thoughts right (or wrong).
Here’s the thing. No one knows what will happen. Not even the experts know what’s going to happen. Over the past few weeks, I’ve been doing a lot of reading up on the current situation, researching the past and thinking about what the future might hold. As always take these thoughts with a grain of salt, do your own research and make your own decisions for you and your family’s situation.

Surviving COVID-19
First, let’s address the virus. I’m not a doctor, but listening to the doctors out there, they’re worried about the spread of the virus. So, take the necessary precautions to keep you and your family safe. Wash your hands and stay at home. This, too, shall pass.

Surviving the Coming Recession
Now, let’s talk about the trillion-dollar elephant in the room: the economy.
Never in a million years would I think that a virus could topple the global economy, but alas, here we are.

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