Coronavirus & Your Money | Michele Schneider & Laurie March
Sure there is anyone around the world that doesn't know about co in nineteen right at this moment and I am sincerely praying that it hasn't affected you or your family and please no my dear friend that you are always on my mind and that the community is so important to me so. I'm hoping we can really lift everyone up and be a resource. It would be a very gross misstep. In my opinion if I didn't dedicate entire episode two krona virus and its impact on your money and also general preparedness. So that's what we're GONNA do today. Not with fear but with information and facts to really help you navigate these super super strange waters that we all seem to find ourselves in. You're listening to millennial money with award. Winning Money Expert and serial entrepreneur. Shana come to game where we flip the script on the old school approach to everything. Your parents never taught you about money. Each week Shawna creates a safe space by talking with special guests from around the world about money wellness entrepreneurship trailing like a boss. And what makes mementos tick unique stories. Trail-blazing PERSPECTIVES TIPS tricks. And everything there is to know about money. Find it all here. Is You. Cover your money story and unlocked the life. You WanNa live pretty cool right here. Shawna money expert. Indiana hoosier and Burger aficionado. I found myself feeling a lot like I did on nine eleven and then again in two thousand eight when I was thinking what the like expletive expletive expletive is happening right now now like weird feeling of not knowing what to do. Do I go outside? Do I stay inside? What do I do I go events? How many groceries do we need? No wait I have a cough and my sick. I could go on and on but likely you're probably feeling the exact same thing so I asked Mitch Snider. Who's been on our show many times before from market gauge to come back and tell us what underworld did you with our money and given this crazy stock market. What we should be thinking now. I did record this episode on Friday March. Thirteen so cilikely. The market does look a little bit different today. Or whenever you're listening to this episode but the advice is good no matter what and then remember the episode. I did last year with Lori March from know-how studios who is a preparedness enthusiast. While I'm GONNA reboot a few minutes from that episode where we talk about preparedness and in this situation we're talking about natural disaster preparedness but. I think really let us show you that. You should always be prepared no matter what my friend and that even when Cova Nineteen Krono virus is somewhat of a distant memory that it's always important to pull together preparedness kid because we just never know when something like this is going to happen again. We'll miss. I am so excited to have you back a podcast. Of course I'm not excited. What's going on in the country in the world right now? Going on with the stock market our finances so many people are really stressed out right now and don't know who to listen to your what's right and what isn't right but I immediately thought about you for this episode and know the listeners. Love you and felt like you could really be a calming voice for us during this kind of crazy chaotic time. So thank you so much for taking some time out. Thank you sean on. I'm so glad that you reached out to me because this is the time to really start taking stock figuratively and literally of whatever investments. You might have and have a very realistic viewpoint of what could happen right now. there is unfortunately still a lot of people out there including some people in the government. There are saying that this is a good time to buy socks and they've been saying that for the last three thousand point drop so all the things that I like to tell people which is to have some level of self empowerment through education. So that you don't get confused about what to do That's what hoping to help people with right now. Not Talk necessarily opinion but talk actual real fact and what. The implications are for the market for the economy and obviously for people in their money. You know and I. I've just been thinking this the last couple of days. I mean it feels like every day you watch the news. Something feels worse than the day before and it makes me feel very reminiscent of two thousand eight and even thoughts of of nine eleven. Just that sort of like shell shocked feeling that that we sort of had as a nation. So I'm curious like thinking about two thousand eight. How is what we're experiencing now different different or similar to what happened during that time in the in the stock market electrical questions start with Because anybody that's under the certain age of say forty may or may not have lived through the two thousand eight or not invested through it and what we know about two thousand eight was first of all it was very focused on the banking system and the mortgage to awful The Fed at that point had a lot of room to use quantitative easing to help. Actually reverse the carnage. That had happened. Which is exactly what happened. They started adding liquidity bailing. The banks and it was really more focused in the United States as opposed to a global ramification so the fact is it was nasty and surly had things like you. Don't lean and brothers and air stern going out of business but we recovered from it. When I say relatively quickly if we look at the time line it was really started in October. Two thousand eight and started to bottom out Not even a year later. It was more like April. May Two thousand nine one. Instead started adding money to the market that things started to turn around and that turned out to be the bottom for the last eleven years. So you're like fastball. Now to this. And this is really a tri factor of crap. I mean I don't know any more delicate way to put it because we're not talking necessarily about a very succinct area And also by the way the car industry had also gone down at that point to back in two thousand and we're talking about something much bigger. I mean this is a personal. The virus is having global reach number one number two. Is that in the midst of all of this? We're having a lot of deflationary factors which I think can turn and we'll get to that later but But essentially what happened right now is fifty Saudi Arabia. Russia WARS WITH OIL PRICES. The oil dumping is also having a huge impact on everything because we are still very much. A global economy depends on oiling guests countries do and certainly in the state that I live in New Mexico we do. So there's that it can economic impact which we don't have been even really figured out how much that's going to impact and then the last thing this is really where we're different from. Two Thousand Eight is the whole Central Bank and Federal Reserve role in this. What they're trying to do desperately right now is sort of a chewy five. They're calling it which is Y- tremendous amount of bond buying There was rumors yesterday that they also bought investment grade bonds which basically means they were buying some of the biggest companies their bonds there Which would be like General Electric and a few other companies like that Barisal wait? My husband has a comment. Yes weren't on the primer steelers people. So weren't actually. The Fed is not allowed to buy that but they were funding. The banks so that banks could actually buy these high-grade investments a little distinction. He wanted to know by the way my husband Keeps Snyder. Is the CEO of market gauge. The company that's going on too. He's got a couple of good good insights about things but anyway getting back. So here's really the danger. And this is what people have to understand right now. The Fed and central and then today Germany announced today being Friday the thirteenth Germany announced that it was just GonNa print as much money as they needed to to keep flooding the system and flooding the system. If this doesn't help if the banks can't save us And I say US I mean the market and the economy and Then then I think that we really have some very serious problems for maybe years to come and what are some of the ramifications of printing money because I think we can. We can say that and be like Oh. Let's just pray more money but we've we've done that in two thousand and we're doing that again. Obviously now like I guess a how does that may be potentially help and then be what are some of maybe the ramifications of that well in terms of flooding the market with a money artificial money. This is the reason why we're even having this month. It's not very and obviously the virus was the trip of the bubble but this was a bubble in the making for really a very long time in that once. You have all this. Artificial stimulus essentially what was happening to these large corporations and some of the smaller corporations was that they were becoming very highly leveraged with cheap money and low taxes to buy back their own stocks. So one of the things that you've been seeing here is this liquidity crisis where everybody is trying to raise cash and so that they have in terms of their holdings and obviously the corporations being highly leveraged had a dump a lot of stock so the stronger corporations you know like the microsofts of the world and the apple of the world. They may eventually survived. This there's going to be a lot of smaller corporations that you're gonNA see going into bankruptcy. I mean as a result of this and that is that can be whether the this whole liquidity injection helps are not now but to be more direct to your to your point is if you keep printing money basically what it does is it. It reduces the value of currency in general. And so you know things that are dollar-denominated although the dollar is still stronger than what? We're seeing an and the other currency except for the Japanese yen. If the dollar starts to falter and there's a lot of money in there and we have this crisis continue or we get a real real Blockage to distribution of food and we wind up with shortages as a result of loads of production and low distribution. Then we can be talking about an economic scenario that nobody wants to see. It hasn't happened since nineteen seventy-three but it's stagflation why and essentially what's yeah and just so people understand what stagflation is it's essentially when the economy if people are calling for recession right now full blown recession. And that's a possibility too and deflation. It's also possible every possibilities on the table. Now however my feeling about this is having seen this happen before In one thousand nine hundred seventy three. So what's that Station means? Is that you have. And that was of course you oil crisis. That happened In in the in the mid seventies which spurred on slowing economy but hyper inflation of prices so the reason why. We're not seeing anything like that. Right now is because oil just got killed because of these oil pricing when I mentioned tri factor. There's another factor to consider here and that yesterday we bombed in Iraq. I mean there's still somewhere out there although nobody seems to want war which is a good thing. There's still a possibility that we can get into some kind of Snafu with the Middle East and that would not be a good thing but that would then actually bring to play. That might be the prick like viruses been on the mobile. That we've seen created through artificial stimulation is that could be the pricked I into more stagflation scenario interesting. Yeah and a couple of my friends. Ask Me this question and this is a good one to ask you. You know what is happening in the stock market if you are if you are a novice and maybe you just have money in your 401k and your IRA and you're off and you don't really feel like you know what's going on in we have these days. Were we'll be down a thousand points or two thousand points and then the next day were up nine hundred thousand like this. Yo Yo effect that kind of goes back and forth what what is happening in there. And how much should we pay attention to those? Yoyos up and down especially right now certainly. This is a historical precedents. We've never seen this type of volatility on we had huge FICO volatility in two thousand eight but in terms of you know these thousand point. Move Up and down. I never remember the stock market being like that. I was a commodities trader. And you might see those kind of crazy. Volatility moves in futures but not in the actual stock market. So you know. Essentially this is a this is a resetting of possibly the entire way. Monetary policy has been set and the way the markets work in general and. That's to me an extremely dangerous situation especially for people or being told to What we call passive in this. Don't worry it will pass. This is all going to go away. Just hold onto your laws is 'cause it's all GonNa turn around and you know we've Kinda been sorta fortunate in this country but from nineteen sixty nine to nineteen. Eighty five in the market was flat after we had a crash. And that you know who wants a fifteen years with no gain. In their money now younger people could afford that maybe more but anybody in the baby. Boomer generation should be nervous and even in the younger generation. I would certainly not want to be sitting heavily long and stocks. And if you haven't gone out at this point I would say that you should really consider selling your stocks right now. Because I don't think that this is going to end well and I'm not the only one I just saw J. P. Morgan. Who wrote that you know any rally should be sold into now And that's what we're seeing happening here. If the market today is Much more in the morning and then sold off by seven hundred points. I mean that's swings. We're talking about and that's because I think people are taking these opportunities rather than to buy but also to sell and get out. I'm trying to think like if I was really a novice to investing and You know I can hear them sort of yelling at me through this episode. Asked this question so i WanNa make sure I asked some of those that come to my mind so when you say sell off the stocks like what does that mean in terms of if you have a 401k or you have an IRA what are you. What are you doing? What are you moving into? What's the practical application of that for? Quite honestly considering. Nothing is really safe right now. Gold is sold off silver has sold off all commodities have sold off the bonds which had a huge rally also now have sold off from its peak I would say that if you could raise cash. That would be something good to do. Even if the rates go to negative next week we have a fed meeting when by the time people here. There's it'll be this week that we have the Fed meeting and there's anticipation that the Fed will go to zero in terms of the race So essentially if you really wanted to hold out any longer if the Fed does that which seems very likely that they will at least lower by half a percent if not go to zero and the market doesn't respond for more than a day or two like just like what happened yesterday when they announced five hundred billion dollars of bond buying through repose. Then you really need to get out you know totally get out because it's telling you that the Fed can't fix their out of tool and this is just going to be the freefall until we finally get to some points. It is a free market that we get to what people consider to be fair value. And how do you know what that when that point is when that's fair value is or win? The point is that you should maybe jumped back in well. You know there's going to be a couple of things in fact if we go study history like right now if we look at. Let's just say Nasdaq QS is the ATF. I'm looking at it and the reason why I'm saying Nasdaq is because of all before industry being the S. and P. Five hundred the Dow Jones industrial and the small caps. Which you and I remember my conversation with you about the modern family family and the granddaddy of that was the small caps in. Watch them and they're going to relay what's going to happen. And they never went to new highs when everything else was. That was my first single we signal. We got out of stock in the middle of January. So we saw this sunny. But I'm GonNa say choose now because the Nasdaq with the big stocks. Fang stocks facebook and his on Google Net flicks etc. Those would probably be one of the first to actually settle down. So this is where phase is really. Come into play here right now. Reynolds situation where rain. What we call the distribution phase. I would certainly say at the very least we would have to see a lot of institutional investors use the two hundred day moving average the two hundred day moving average in the mastic is around two hundred dollars and I'm looking at Choo Choo Choo if we can get some kind of a weekly settle above that. Then maybe the worst is over. And maybe you might miss the first twenty dollars of the bottom. But that's okay this type of volatility but I think what's going to be even more revival is. Let's go to where the storm started. And let's look at the small caps and the reason why to those of you who may not know is because the small caps represents manufacturing sector of the United States. It's really the supply side of the The economy and that crash long before the Nasdaq Day. Long before the spy the S. and P. Five hundred so it would stand to reason for me the way I would probably look at this. Is that if we're going to see any kind of bottom. It's going to be here in the small caps. 'cause manufacturing is going to come back and feel better and that's we're fair. Value will come. How do we know when that happened? This is a really good question. Right now We have. I mean we don't know. We're not gonNA know billy for a while so rather than here's what I'm trying to say is. We're also programmed to win. Do we know when it's over? I wouldn't worry about that right now. I would more worry about is. How much further can we go down before it's over and then you and I can have another conversation in six months three months? What have you maybe here? I'm not saying we have wait this long to saying it could be. It could be twenty twenty five time. We actually get into a conversation where we can say. Is it time to get back in? So that's really the reprogram people we all WanNa buy it's American to buy and we all want to say well. Gee She Disney Disney. That's gotta be a good stock right you know. I had watched the Disney channel. I've taken my kids to Disneyland Disney World. Which by the way is all close right now. When is a good time to buy Disney? That's GonNa be good stuff. Well Hey if you liked it at one fifty you loved it at one twenty and now it's trading ninety four. Yeah so you know what I'm saying like we have this right now because we're in crisis mode and again. I can't say this enough. If the Fed actions and the central banks actions of pump pump pump pump pump. Which is the one of the reasons why we're here to begin with if it doesn't work when they tried to do this again over the next week as they're planning to do enough already started then you know we are. We are not going higher. At least not at this point and I would definitely feel remiss to try to to say anything other than that and certainly. I'm not going to say this is going to be the bottom because we won't know until it shows up that's such a good point that well Gosh I I have. I have so many so many questions. I'm so what do you do if you're you are investing through your 401k. Or you're off and in those paychecks. Deductions are coming out and they're going into funds like our. Should you still be funding? That in the in the same way you do you rethink that strategy. I would certainly rethink that strategy. I mean you. Obviously every every four one has different rules. Sure about what they can do so The thing is you know. So what you really basically have to do is You have to recall inquirer from the people from your job or your employer about your four O. One to see what kind of options you actually have to be able to get out or go to cash or something like this You know because everybody has different options some people would pay penalties etc etc so You know that's really something that is going to be very individual depending on the type of company that you're working for So that's really and by the way I cover a lot of this in my book. Your money free So you know this is really a. I do a whole bunch of talk about what to do if you have a four. Oh one or some type of retirement account there is You know really lots and lots of ways that you can actually eat a change. The type of 401K. You have so this is This is something that I think that people should call up their employers and find out what their options are In terms of putting money in from their salary like you're saying going or is that just like basically pissing into the wind your money for now until things settle down so this is going to be something that people should certainly inquire about. I love that you brought up brought up your book. I wanted to ask you quick question about that. Because obviously I've spoke very openly on this podcast You know this is certainly not something. I'm paid to do but but your book literally sits on my nightstand and investing has been one of those things that for me. Even as a certified financial planner investing. Still it's a little tough for my brain to wrap around it just for me. It's always felt Not Totally in my in my comfort zone. As far as like expertise goes and so having you write a book that really breaks down the language and more so than the phases like the education behind investing. I think is really important and I think more so than ever right now like really understanding that like if you could just talk for a minute. I know we've done this on other episodes but those phases that that we go through an investing. Like how important is it to understand those phasing those phases if you are any type of an investor Well you know. The phases are really basically on two simple moving average is. What's the problem is right now? And the reason why. I didn't say to you. Oh simple way for us to go from a barrage faced who recuperation phase. Which is exactly what happened in two thousand nine. The reason why I haven't said that right is because of the the the rapid decline. We've had the moving. Averages which are lagging indicators prevalent even had a chance to catch up yet so technically in the indices we're not even in a bearish phase so the only thing we so so right now I can't say well. Let's just wait for the clear back over the moving averages because right now this looking at the The small caps which are trading at one twelve. The I W M's the symbol in order for them to clear that moving average what has to go back over one sixty. I mean. That's insanely big. Move and as opposed if you look back at two thousand eight. It was very clear. The moving averages were down for so long that by the time they actually crossed over. You aren't talking about a huge amount of price gain from the low to win. That happened right now. It's very very treacherous. Because everybody's GonNa try to say Oh. The market was up a day or two. This could be the bottom and it could and I'm not saying it can't be but like I said at this point now it's like all going to be a matter of risk now you really and so also my favorite which are awesome at this point. Now they're actually not necessarily going to be the best indicators like I said because the moving averages are so lagging behind what would be the best thing and it would be for this volatility to subside for the price to consolidate over a period of time for the moving averages to be able to catch up a little bit and then we can look at this type of situation of phase changes. Otherwise you really need to have some really good expert charting experience to understand things like what we call island bottoms or exhaustion. Gaps or Fadeaway gas or reversal who cetera et CETERA. So this would actually might be a good time if you decided to go to. Cash is to seek out some type of Investors who really do have an understanding so so I would say twofold here is number one is right now maybe forget about phases. New SHOULD HAVE BEEN OUT. When we went into a caution phase already that was very clean But at this point now if If you if you decide to go to cash or you WANNA transfer you money really ask. What's your understanding of a looking at price patterns on charts you know how much technical analysis j. us because fundamental analysis has not been very useful in this because people were saying by the by the market when it was all time highs without having any understanding what was going on with some of the other sectors of the market so that would be two. Things is not necessarily try to become an expert. That's fast to manage your own money. But there are plenty of services out there and registered investment advisers like ours for example that actually do put our investors into things based on technical analysis that we have back tested for twenty years and as forty years traders really understand. That's such a good point. Wow this has been. This is an incredible mash. I just want to sort of wrap up a little bit like I know. We've we've said a few of these things already but for somebody who's listening who who's feeling a little bit of that panic. What should they do and not do is there? Is there a checklist or an action list? Or what should they be paying attention to and maybe not be paying attention to okay so number one this is. I'm glad this is good way to wrap it up. Number is obviously considering that the Fed has a reputation of saving the day. If they can great people can rest the short and start looking at some value if after next the middle of next week after the Fed makes announcement. And there's more repo buying in the central banks are doing what they're doing. We do not get some kind of sustain relief rally that really hold then liquidate liquidate liquidate currently right. Now I would not be looking to buy anything. And if you're holding stopping you've already suffered enough pain. You know maybe wait another few days at most or get out now and you know salvage whatever you have. That's number two so it's really going to be a lot about the Fed That's really watch. What happens with supply chain Because of supply chain through the virus gets disrupted or the In some of these commodities start to perk up and we start to see some signs of inflation right now. We're in a deflationary period. Then I would say at least also had yourself with looking at some commodities an unknown necessarily just talking about goals. I'm talking about some of the Food Commodities. Wheat corn soybeans sugar You know that kind of stuff because that could be an opportunity right now. I would not because right now. They're getting hammered. Along with everything else. And then you know finally like I said if the bad Federal Reserve cannot help which is very possible in the central bank's liquidation and then spit it out and do your research on finding where else who else you can confer with and I'm not trying to be so promotional here. I'm just saying we have experienced to do this. There are others But your basic wealth managers no because they only get paid to buy stocks. That's all so they're gonNA tell you to buy they're gonNA tell you the sit it out trying to find somebody who doesn't necessarily have that mono or that myopic focus and then the last thing is watch the news but don't rely on the news in fact the big winners of this right. Now is the media. Because people are tuned in fixated because everybody loves to watch the news when things are bad. I mean that's just human nature and make one last comment on that on that human nature and passive investing. Don't think like a passive investor. We are more likely to accept failure than can accept success. And that's why people will sift through these big losses. Because hope fear and greg comes in. I know it's GonNa turn around someday. Dangerous Thinking of course you should have been already. But if you're not out in like I said if we can't get some kind of a real turnaround here get out. Don't think like a passive investor and understand that they'll be opportunities to see if the market bottoms in due time but may not be for years so be protected I know we're sitting in front of some different various cody that might go into. Somebody's preparedness you. Call it backpack so walk me through a little bit about. How are you thinking about? What are the different products? Or you know stuff that you need to put in a kit for yourselves to be prepared. And how would you go about knowing what is right for? Year right. It's it's giant question. Yes you like the fifty million dollar question I think most preparedness begins in your your living space and most things go sideways are things that you'll be dealing with At home so there's a lot Out there about how to take things with you and be prepared to on the go to be leaving A lot of people actually call that book bag bug out bag Or you're sort of Emergency Escape Kit Right. These are the things you need to leave your home west. Well unless you're running away from hurricane or a snowstorm that's going to be extremely damaging or a wildfire Lots of things that go wrong. You're actually better to just shelter in your house so a lot of our preparedness lives at home and you just have to start by thinking about your risks. What are the things that could happen? Well number one power could go out right sure. Hey that means there's no net flicks so it's nice to have booker to laying around. That could be judge. Is that right? What if your IPAD can charge or your kindle and you can read. I can't imagine it would be rough pay. A solar charger would get you through every single day the sun would come back up again right so you could be charging that Kendall or that ipad you could still have access to all your digital stuff or you know at night. You need to make sure that you can see right so and candles matches. These are all things that are nice flashlights. Great to start with these. Things are so unsexy aren't they? They're very unsexy. Like not one of these things jumped out at you and was like. Let's start a pinterest board flashlights. They're not sold on. But I would be if I really needed it right. Lorie told me if I would have had this thing. I would completely different situation now. Yeah it's not sexy but I will tell you when you had the thing you needed. You feel smug you feel so self satisfied when you had that happened to me. The other day the power went out. I happened to be in the bathroom. I was just too key. The worst power went out and I had a flashlight in there and I left that bathroom with a flashlight on my hand and like the most self satisfied. Look on my face. I'm sure while I was headed to the breaker box to figure out what went wrong because I had the damn flashlight in the vast like. When does that happen? I remember and you found the flashlight. Which is the other team. It's where I lashed it the thing you know part of preparedness if especially if you're in a couple you gotta tell the other person where the flashlight is right. One person can't be prepared alone. Now would be another disaster. I think a lot less fun to have to route around and find the things because you thought your spouse might have gotten them but you know preparing if more than one person uses your home. It's great to have that communication so that everybody knows where the flashlight is. Right right the port. So what about things? Like food and water is where if we're in our house for an extended period of time. How do we prepare those sorts of things? Is there better things to have the others. This is the thing you could make as simple or complicated as you want so at the most basic in your home. It's great to have peanut butter and crackers tuna fish stocks that you could potentially just make without having to heat or cook no boiling. No no you didn't have to use any appliances easy stuff. Yeah cereal you know. Granola bars trail. Mix Soup the if you really wanted to. You could eat out of a can if you had to. You know there's just things that you can consume that don't require a ton of these are great things to start with for your kit if we had cereal in her house for Preparedness Kit. We would have to seriously it it. It would be gone no matter everyday. I put it on a a upper shelf. I can't reach without a ladder. That is a trick. Yeah I have busted my preparedness Kit recently When I ran at a coffee one morning and grabbed these. Actually I put it here on purpose so you can see this. This is instant coffee. Which is kind of sacrilege to most people Except what do they say? The in the Kingdom of the blind the one eyed man is king when you run out of coffee and you find instant coffee packets you are king right. Use scratched your coffee for the moment but this is a perfect example so if the power went out I tend to consume coffee I grind beings myself I plug a grinder in and I grind the beans and put it into my coffee maker. Those two things use electricity so if the power is out I can't grind the beans. We can't really make coffee with like the being without the grind so this is pre ground I can actually just pour this into cold water. If I'm sort of coffee jonesing desperate sad and really need it. I've done this before on a job site where I just really wanted a coffee. There's no hot water anywhere but escorted into a water bottle. I drank it I lived. I lived as how another day and so did my crew by the way I didn't kill anybody. You're a copy junkie. Obviously it sounds ridiculous by you should probably instinct coffee. You're not coffee person. I know this because yes yeah I can tell. I cannot relate is a great example if I was making a a book bag to go out onto the world in case of emergency you bet your asset. Have a couple of these in there because part of emergencies also about knowing that you're without all your comforts. If something really goes sideways you have to change your life for a couple of days or a couple of hours or a while. You know people who are out of their homes for hurricanes. There creature comforts the things. They're used to that made their life. Good can be gone in a minute. So something as simple as having the drink you drink all the time available to you or at you know if you're a somewhere and you have it like hurricanes if you have been able to bathe a lower take a shower having these wipes become so important. This is like a shower. One shower individually wrapped in a package that you can bus out sometime in a public restroom do a full wipe down and feel so much more comfortable so no one thing sir lights but in the moment when you're not okay things like this could make use so much more comfortable and make you feel okay when you're not okay. You know. I think that's kind of part of what people miss about preparedness. You're not GonNa no you can't read the world you don't know what's coming right but having a couple of things that you know how to use that you have in a safe place and have have a couple skills you know these things really get you ten steps ahead if something does go sideways. I mean you talk about this more than I do. But it shouldn't cost you a ton of money to get a few things right. Sure it doesn't have to sometimes the simplest ways when you go to the grocery store adding on a couple of things Toilet paper is a preparedness tool. Yeah right don't be stock without it would be bad but has your in your home for two weeks and you can't get out for whatever reason You know the the normal standard things you run out and grab you might not be able to get Amazon. Might not be able to get to you so forbid right. I can't get my shipment. Today's going on. Can I get that toilet paper prime right and now you're telling me I can't read my ipad or when on life is just will cease. You're just kidding right. In all honesty these are things that were very used to having in our world. When they're not it's it's very it's uncomfortable experience and feel scared and out of your element in these really uncertain times. I think it helps to have people you can tune into. They're paying attention to facts and not fear. And I'm not saying to only listen to Mitch. But Hughes which. She's told you to help inform some of the decisions you're going to be making with your money. If you want to connect directly with miss she would love to. You can find her at market gates dot com. You can also email her. That's MESH AT MARKET GAUGE DOT COM. Be Sure to pick up our book. Plant your money tree to do some reading now so you can be prepared. Once the market does bounce back and check out the full episode with Lori March. I'll have a link in the show notes. It is an episode that ran in twenty nine thousand nine hundred and again just peaceful free to share this episode with friends that need to hear this message. And let's just together and get through this united and remember that we can be smart with our money even in these times of really craziness when we just don't know what to do own A. Hey where you going? We're not quite finished yet. We just wanted to say thanks for listening to this episode millennial money and for helping. Us create a safe space to talk about money for more on this episode. Check out the show notes and don't be afraid to rate review and subscribe to the show. Seriously we love hearing from our millennial money family. Send US your rave reviews. We look good and five stars just saying see back here in a few days with a fresh new episode.