Another solo Vivian yap session! On this episode of Networth and Chill, Viivan dives into how to actually build wealth, no matter how bleak the economic landscape looks. The US is in some murky financial waters, not quite recession land, but people are definitely prepping for the worst. With the economy up in the air, now is the most important time to get financially literate. From upping your savings to answering some of your burning questions, welcome to recession 101, class is in session!
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Your favorite Personal Finance & Investing Creator. Let’s talk about money, career, & getting rich. Learn more about my background in Finance on www.YourRichBFF.com and follow me for more smart money tips.
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00:00:00 Strategies for Recession-Proofing Your Finances
00:03:50 Understanding Economic Cycles and Recessions
00:06:56 How Liquidity Issues Cause Bank Collapses
00:10:11 Understanding Index Funds and Investment Strategies
00:13:37 Why Non-Cyclical Staples Outperform in Economic Downturns
00:17:09 Introducing AskDolly: Financial Advice for Everyone
00:20:23 Balancing Your Retirement Portfolio
00:23:52 Empty Shelves and Increased Prices
00:27:31 Impact of Regulatory Changes on FDIC