Leanna Haakons is a financial marketing expert, entrepreneur and author of bestseller, Young, Fun & Financially Free. In addition, Leanna is the EIC of TheWellthyMindset.com, and says Millennials those in their (20’s-40’s) don’t need to panic now because they should be thinking about their long term financial goals with plenty of time for their investments to bounce back. Leanna hosts a regular segment on Yahoo Finance and is a seasoned TV guest appearing on CNBC, Bloomberg, ABC News and dozens of other publications.
COVID-19 and Disruption
How has this impacted your business?
Cash flow (potential job loss / reduction of work)
What are you telling your clients and listeners on how to gear up for what looks like a rough set of months coming up?
Cash positions (reiterating the importance of having 6 months+ of expenses)
Evaluate Expenses (now is a good time to sharpen the pencil on things that you need vs the things that you want)
Leverage and borrowing- taking a hard look at the various interest rates that you have and strategizing around them.
For those that can, is this a good time to refinance your mortgage? (I’d say yes if you can)
Market drops and volatility
Saving for retirement and other goals based investing- (I’d argue that this is a great time to continue to do this . . . or start)
Is now a good time to invest? (I’d argue yes, if you have the cash flow and time horizon to be able to do so)
Using the time well
Going deeper into your field- extra study, zoom conferences, making new contacts within your field
Developing skills just outside of your field that can make you even more dangerous in your job (Examples: media/PR skills, coding, taking courses in important subjects like contracts etc . . .?)
Developing contacts outside of your field that might be helpful (industry associations etc . . . )
Developing expertise in your non-career interests (do you have a book in you, podcasts, painting etc. . . .?)
Can those be linked together in the future?
Spending time with family and friends (even virtually), so that your support community is in place during this time AND after.
Rest/exercise where possible
Coming out of the Abyss
Trying to envision what the future looks like in six months
If you have a business, what should you be doing to stabilize it?
What are the various programs out there that might be of help?
Leanna- how do we keep tabs on you?
Where should we find you on social media?
Leanna Haakons – Media Reel