For today's episode of "Assetlab's Unpopular Opinions':
One of your best assets over the next couple of years = Keeping your job/maintaining business income.
In other words...Protect your cashflow.
Those who survive (and thrive through) downturns are those who manage their cashflow and have sound risk management in place.
Sound too boring and conservative?
Enter the humble side hustle. If you don't have one, get one. 'Side hustles' are aptly named because they are on the 'side'. They allow you to build incremental income while protecting your primary cashflow position. To give away your primary cashflow generator while heading into a recessionary environment, to 'go big' or 'be brave' is a recipe for disaster. It's a nice sound-bite though .
Simple formula really: Protect your primary cashflow in this environment, and then build an incremental one on the side.
If it goes well, your side thing may become your main thing, but you haven't risked the farm while you find out.
Assetlab; Bringing you the boring and simple stuff since way back.
