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what's up everybody and welcome to the meet Kevlar report number three now today we have some shocking news from the Federal Reserve and it's not the kind of news that you should be expecting we're going to break that down first and then we're gonna follow that up with some strategies for 2019 investing we're gonna talk about minority mindsets comments on debt and why I think his advice is wrong we're gonna touch on what Graham Stephon missed on credit we'll talk Gary Vee on failure during the next recession whatever that shall be and some dude about habits who had a viral video and I may as well give you the bottom line with my opinion on that video let's get into the meat Kevin report three if you're not familiar with what the meat Kevin report is well I meet Kevin and I summarized some videos that I've seen on the youtubes and a ton of financial articles because that's pretty much what I do all day long is I read and I drink coffee no cheers to that yeah that's a glass straw I'm trying to save the Turtles oh yeah and in case you're wondering why I'm dressed up that's cuz I'm a real estate broker I help people buy and sell real estate and I teach you at I buy and sell real estate as an agent and as an investor in the courses link below let's get right into what's going on with the Federal Reserve here's the bottom line as market prices increased from 2017 to the summer of 2018 and the Trump tax plan came into effect and really kind of boosted spending by companies and corporations we saw a surge in the stock market in q1 of 2018 which some people have called the beginning of a bubble we very quickly saw a hawkish Fed in the summer go WOW things are blowing up a little bit too much here folks we got to come in be the coolers to this party cuz things are getting a little out of hand somebody put something in the punch so what did the Fed do that the Fed started raising rates and that accomplished along with the actual impacts of the Trump tax plan is slowing in the marketplace this is why in q3 and q4 of 2018 we saw significant weaknesses October was a terrible market for stocks unless you were shorting the market and the real estate market plummeted through last summer a good 8 to 12 percent in many areas with areas like California and New York leading the plunge as a result throughout q3 and four I posted a lot of videos and so did a lot of other people god Federal Reserve police stop raising the federal funds rate which has an effect on increasing mortgage rates and so that is exactly what they did at the end in December of 2018 the Fed said ok you know what we're gonna we're gonna take a little bit of an easier approach well this Wednesday the Fed came out and suggested you know what we're done raising rates for 2019 we're not gonna race them at all and maybe we'll only raise rates once in 2020 and you might be thinking well that's great Kevin because everybody kind of wanted them to stop that would be good news for the economy right that's what we think the problem however is the underlying rationale from the Federal Reserve has actually led people to be a little bit more nervous than you might think that is the Federal Reserve suggested yeah okay we're not gonna raise rates because we think GDP is actually going to slow down much more significantly than we thought as a result of this slowdown and gross domestic product and what we're expecting you know a slowdown in hiring and we're gonna expecting the unemployment rate to increase a little bit we're gonna chill out a little bit this sent signals to the entire marketplace that while this is ordinarily good news ooh maybe we need to be a little bit cautious that the overall global economy is slowing down much more significantly than we anticipated last year because remember beginning at 2018 everything was euphoria now everybody's hitting the brakes a little bit and this is also evidenced in how consumers are beginning to behave consumer spending is down jumbo mortgage refinances now this is understandable because even slight increases in interest rates kind of make people with big amounts of debt not want to refinance now the flipside is true now refinancing might be a good idea but this is where I come up with my advice for 2019 while the Federal Reserve has done a complete u-turn from their hawkish stance from last summer to the dovish stance of now I highly encourage you to consider a couple things before you refinance one how stable will your income be during a recession and - do you really need to do what's called a cash out refinance right now that is increasing your leverage right now I would highly recommend folks consider home equity lines of credit capitalized maybe on higher values that exist and before you take out more debt or go into risky projects like flipping real estate consider just hold on a little bit be a little bit more conservative now we do see a lot of people suggesting that there is no sign of a clear kill shot to our economy that were just the justing to new low levels of growth I'm still recommending you be cautious and really look for the wedge deals that we always look for in the real estate investing course don't know what the wedge is let me put it very simply for you if you can buy a place for 350 put 50 grand into it and it's worth five that means you're into it for four and it's worth five you have a wedge or an insulated protective blanket protecting you insulating you from potential crashes by $100,000 that's nice we like that we like insulation we like safety that those are the kind of deals that I'm advocating right now I'm not recommending quick flips with a risky potential profits and I'm certainly not recommending high interest rate debt this is where I'm sorry mr.
minority mindset I have to hit you in that when you suggest the first scenario is you have high interest debts that are costing you 12% or more a year in interest I'm blown away that you picked 12% because the number I use is like 7% that is if you're paying student loans credit cards or car debt and the rate is above 7% I do not think you should be jumping into investing right now you should be paying off that debt because if our global economy is going to adjust to lower and slower growth after all look at the European Union where they have negative interest rates at the European Central Bank yeah negative interest rates that means if you put money in a bank you actually lose money pretty crazy anyway back to the United States or really wherever you are I would highly encourage you to peg that number at six seven maybe eight percent any interest higher than that pay it off that is the best investment that I would recommend right now from the point of view of a real estate agent for entertainment purposes only because I am NOT allowed to give financial advice I just make videos on YouTube right now your only focus should be to pay down these high interest debts as fast as possible because they are very very very expensive as a result I much prefer and liked Zachary's comment on minority mindsets channel where he says pay off your debt above 6% first if you have a mortgage at 4% then it's better to invest in stocks with an average return of 8% but any credit card debt pay off ASAP I could not agree more with this comment excellently done now we're going to transition a little bit over to Graham Steffen where he gives five mistakes to a ruin your credit score folks I think some of them we would already expect such as a high utilization rate of our credit cards and also missing a payment never miss a payment check all your stuff twice a month so that you don't miss a payment make a spreadsheet check it twice a month and then you won't miss a payment I set the stuff up on auto pay and pay it off every month I mean can't miss the baby anyway there was one very important part that I think Graham missed and it is a sign of well the jaded economy that we kind of need to be in today you need to freeze your credit aka Locker credit your credit can still grow when your credit is frozen but give this a Google Experian credit freeze transunion credit freeze or equifax credit freeze educate yourself about freezing your credit I just froze my children's credit and they are one and a bit and three and a half and I froze their credit on our credit is frozen - you should do it as well credit snow goes up it just gives you basically a nice personal pin code so that if you want to apply for new debt you have to unlock it with a special code so that way people can't steal your identity and if you think oh well I don't have a target credit card or Home Depot credit card those loser companies got hacked I have a better credit card somewhere else well you cray because Experian got hacked and if you don't think your date of birth and social which by the way is all you need to steal your identity is out there then Ukraine now speaking of crazy we can head right on over to Gary Vee who tells us that a lot of the fake Lambo Renton entrepreneurs out there are going to get spanked and and that's why I have so much cynicism towards the people that rent Lamborghinis to make it look like they own it because this is going to be a mental health issue my number one fear because entrepreneurship at scale is gonna fail during the next economy collapse I actually thought he had a pretty cool point of view that hey you know what we have a society that has been coddled and we need more people willing to embrace failure I'm substantially worried about this because I think we're talking about a generation that was over coddled by modern-day parenting we have I think we have to stop giving seventh place trophies it's bad for kids and a lot of people are gonna get flushed out for failing because they're not gonna be used to failing and I for one will agree with this and say I fail all the time don't sue me bro oh but I mean I actually wanted to reference value taemin's chart here because that's almost the story of my life so we'll put that up thank you very much Gary Vee and Patrick Pat David now over and above to the viral video on one thing you could change in your life that one habit you could change in your life and the question is why did Tom not stick with his good new habits and the main reason why Tom and why most people don't stick with good knee positive habits is because they don't possess the most important habit which is something called commitment and nobody really cares about the definition they give for commitment but what we do care about is the message that he embodies in this viral video that if you want to make a change you want to go to the gym three times a week don't go from zero to three times a week start going once a week and I would also recommend just focusing on one new habit at a time you can try doing a few at a time but usually you will end up exactly like Tom but if you really do feel like you can take on more then go for it the same could be said about investing in real estate which is what I encourage you do in the real estate investing course or even as a real estate agent don't try to go from zero clients to twenty clients don't try to go from zero to thirty units start with one just repeat what gets started start feeling it and then you could go to the gym again then you can buy another property then you could move on I thought it was a really great reference and a great way to cap off this video because guess what if the market is going to be in a slower growth direction if we are going to be more focused on paying off debt then folks I highly recommend you start committment start committing to investing start committing to yourself and your own personal goals in a smaller way then you've been used to because the last thing we want is high-risk high-reward a time like this but what is definitely not high risk is smashing that like button and click and subscribe and following me on Instagram because well if you follow me on Instagram you could send me some tips ad I need some tips because you see this iPad here I could fit a lot of articles and tips on here so please send me you also click one of these other videos thanks folks have a good one
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