How You Can Prepare For An Upcoming Recession (5 WAYS)

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Today I'll review 5 methods to you can prepare for a possible upcoming economic crisis!

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Introduction – 0:00
# 1 Reassess Task Security – 1:28
# 2 Save! Save! Conserve! – 4:11
# 3 Evaluation The Spending plan – 8:26
# 4 Avoid Making Big Purchases (Debt) – 10:55
# 5 Evaluation Portfolio + Build Cash – 14:32
Wrap Up/Outro – 20:20


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About Brandon Beavis:.

Brandon Beavis was among the youngest consultants to end up being totally licensed here in Canada.

In 2013, Brandon officially began his industry research studies. Over the years he has finished his CSC (Canadian Securities Course), CPH (Conduct & Practices Handbook), WME (Wealth Management Basics), 90-day Investment Advisor Training Program, participated in the Manulife Specialist Advancement Workshop in Oakville, ON, and participated in many industry seminars, conferences & events to assist even more his learning.

At age 20, he became a totally certified Financial investment Advisor, working for one of Canada's largest Financial investment Brokers, Manulife Securities. For 4 years, he worked alongside a highly experienced team at Beavis Wealth Management, focusing on High-Net-Worth Investing. He's had the chance to work under his Father, a consultant of over 25 years, and has actually dealt hands-on with client portfolios, involving; studying, structure, and handling multi-million-dollar client accounts.


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How You Can Prepare For An Upcoming Recession (5 WAYS)

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  1. Yep, that’s what I figured out working for big companies. People who bend over backwards and are go getters, get used and abused and they burn out. Speaking from expirience on this one. Now I work a trade, go to work, go home at the end of my shift, no OT, no bending over backwards and it’s the best situation I’ve been in, in my working life. Now I love investing and will continue to do my same weekly contributions and just keep buying as stocks tank and then as they go back up eventually. We’ve started 2 side gigs (vending machines we now have 3 locations and working on another and reselling things we find on market place and kijiji.). So we’re not changing anything just pushing throw with more force. Hahaha!!!

  2. I remember back in March 2011 Shaw Cable did a huge lay off of staff, I was lucky at the time I was on Maternity leave and I was front line staff so both my husband and I avoided being laid off, Middle management and higher.
    I have been saving money due to the fact of living on very low income and making ends meet aren’t easy.

  3. How the hell did we go from staff shortages everywhere to potentially people losing their jobs??? Are those two phenomenons not in the same fields? Am I missing something?

  4. Thank you. I never realized how much 1 ginger cookie was a Starbucks because my daughter usually pays but I won’t be spending $3 for a cookie lol

  5. this really hits to heart. thanks Brandon. great video!!! love the knowledge you bring to us. being proactive is highly lucrative indeed.

  6. Taking transit to work, wfh as much as possible. Building cash position. Paying off high interest debts. Above all, trying consciously to finish all items at home before going shopping. Can’t imagine how many items I would’ve trashed because of expiry date

  7. Brandon when you have children (small or teens) every month is something new. I look at my budget monthly more than once and also plan yearly for birthdays, sports, vacations, summer camps, education investments, seasonal clothes…it never ends! So, I think that keeping a tight budget is the first key to do not get lost in the extras expenses 😉

    1. He’s expecting;-) it will come very soon. Then we’ll be having baby budget videos with some cooing in the background:-)

  8. Have lots of cash and keep buying the dip. Once the dip is over it’s generational wealth building.

    Never let an opportunity goes to waste.

  9. I second the job thing. During the 2008 financial crisis I remember sitting in my manager’s office and helping her sort through a box approximately half full of paper resumes that had been submitted to us.

    She used to toss them if we weren’t hiring, but started keeping them during this period because she knew they likely wouldn’t have a job when we would have a space open up.

    I managed to keep my job at the time because it was ‘recession proof,’ but just the amount of people I know who struggled because of job loss and just the memories of that time means that I am preparing now. Nothing outside of what is being done in the video- I moved most of my stocks to a cash position a six months earlier than I planned to for a potential downpayment late last summer which was the only prep work that I have done.

  10. All very good points, One thing I’d recommend is to tighten the budget just a little to build up some extra savings(just in case).

    The point about increasing your portfolio’s weight in cash is good to take advantage for when stocks go on sale and you can average down, or open a new position at a fantastic price point.

    Finally, an idea from Adrian at Passive Income Investing: if you have money you know you’ll need in the short to medium term, consider using it to buy Preferred shares in a stock or fund. Generally, they trade in a very narrow band, so your money is relatively safe, and you can gat paid a decent return while you wait!

  11. For sure completely money is a tool that buys opportunities as well as peace of mind . I am exactly like you, I think of consequences first I go through
    some sacrifice / challenges to see the rewards in the future.. it s rewarding and I appreciate so much more .

  12. I’ve always lived below my means.
    I’m almost 50. One recession/crash after another in my lifetime.
    I was in high school history class when the crash of ‘87 happened.
    1) Job security is a myth
    2)Learn to live below your means
    3)Save/invest when times are good in preparation for the down times.
    4)Avoid/pay off debt

    This too shall pass.

  13. – Opportunity to get a work severance package and retire 🤞
    – Buy things on sale and only buy what you need.
    – Convince yourself that you don’t need to buy extra things.
    – Sell stuff you don’t need.
    – Make your own wine, beer, etc.
    – Avoid window shopping as it may lead to impulse buying. Watch nature instead.
    – Make your own meals. Only eat out when there is no other choice and chose modest places. Make your own coffee, tea, etc.
    – Become a minimalist, declutter, clear up
    – Be positive and find a way to make a downturn become an opportunity to make changes that will positively impact your way of doing things.

  14. Question! To build up cash in one’s investing accounts, this may be a silly question but if you have cash sitting in your RRSPs and TFSAs and you’re not investing it, does it still accrue whatever the interest rate is?

  15. Unfortunately, EQ Bank accounts are not available in Quebec, only the mortgages products!

  16. Thank you for making this video. It helps to stay motivated and prepared me if Tsunami comes.

  17. My personal advice: get educated about your rights and benefits. A friend of mine just got laid off and he missed out on getting a great package just because he didn’t know he was entitled to it so he didn’t ask for it and they didn’t offer it…

  18. This would be a great video as collaboration with Mark, since he lived through similar times and was managing portfolios as well. how it went how it turned out, what was the bad advice around and share his experience.

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