Alex Hormozi: 42 Recession Proof Money Hacks (2023)

The video is about 42 recession-proof money hacks that can be applied in both boom and bust economies.

This video by Alex Hormozi was published on Jan 25, 2023.
Video length: 14:10.

In this video, Alex Hormozi shares 42 recession-proof money hacks that have worked for him in both boom and bust economies.

He emphasizes the importance of giving money to have power, not trading reputation for money, and aligning home and business finances. He also advises ignoring money advice from poor people, thinking creatively with constraints, and investing wisely for a return.

Hormozi believes that poverty teaches valuable lessons that must be learned before moving out of it and that frugality drives innovation.

• Alex Hormozi shares 42 recession-proof money hacks that work in both boom and bust economies.
• Money secrets include the power of giving, not trading reputation for money, and taking calculated risks.
• Money mindset tips include aligning home and business life, ignoring money advice from poor people, and having a safety net.
• Creating value and leverage involves avoiding ignorance, negotiating well, and taking time to make decisions.
• Managing risk and relationships involves prioritizing trust, prioritizing long-term relationships, and being aware of power dynamics.
• Investing and building wealth involves investing in cash-generating assets, education, problem-solving businesses, and businesses with a competitive advantage and clear path to profitability.
• Money flows where attention goes, and fortunes are made by taking risks with a little bit of money and maintained by taking less risk with more money.

42 Recession Proof Money Hacks (2023) - YouTube

Section 1: Introduction

• Alex Hormozi is an entrepreneur, investor, and CEO of Acquisition.com.
• The video is about 42 recession-proof money hacks that can be applied in both boom and bust economies.
• Alex wants to share 10 years of money secrets that worked in both boom and bust economies.

Section 2: Money Secrets

• He who gives the money has the power.
• Never trade reputation for money.
• Money loves speed, poverty loves indecision.
• We can always make more money than we need.
• Fortunes are made by taking a lot of risk with a little bit of money and maintained by taking a little bit of risk with a lot of money.

Section 3: Money Mindset

• Money flows where attention goes.
• Your home life and your business life have to be aligned money-wise.
• Ignore money advice from poor people.
• It's always easier to buy than to sell.
• Money is fickle, money is jealous.

42 Recession Proof Money Hacks (2023) - YouTube

Section 4: Money Lessons

• We stay poor until we've learned all the lessons that poverty has to teach.
• Frugality drives innovation even when you have money.
• Think once before investing, think twice before spending.
• Money love speed, poverty loves indecision.
• It's always easier to buy than to sell.

Money Mindset

• Money flows to the person who needs it the least.
• Make money, but don't tie your self-worth to your net worth.
• Don't say yes to everything, only pursue opportunities that align with your goals.
• Control the money flow wherever possible.
• Always have a safety net, like a "no fund me" account.

Creating Value and Leverage

• The biggest eroder of wealth is ignorance.
• You get paid for the value you create times your ability to negotiate divided by how hard you are to replace.
• Mistakes love a rush decision, so pause and think before making a move.
• Leverage comes from needing nothing.
• Markets take longer to adjust than you expect and then move faster than you can imagine.

Managing Risk and Relationships

• Don't bet the empire for a pot of gold.
• Always do a starter deal with new faces.
• Trust is worth more than a bigger return.
• Don't take all the meat on the bone, prioritize long-term relationships.
• Be aware of the power dynamics in any business relationship.

Investing and Building Wealth

• Invest in assets that generate cash flow.
• Invest in yourself and your education.
• Invest in businesses that solve problems.
• Invest in businesses that have a competitive advantage.
• Invest in businesses that have a clear path to profitability.

Money Hacks for Investing

• Compounding relationships are important for long-term success.
• Money is not a zero-sum game, so look for ways to make money together.
• Never take a standard deal, always ask for better terms.
• Expect low-risk, high returns.
• Think about how long it will take to double or triple your investment.
• Diversification is a hedge against ignorance, but focus on mastering one game.
• Understand the terms of the agreement and how to make money from them.
• Use house money whenever possible to minimize risk.
• Always know how to get your money back.
• Cash flow is king, focus on saving rather than making money.
• Buy for forever, focus on long-term investments.
• If you feel FOMO, slow down and take a breath.

Money Hacks for Peace of Mind

• If you can't afford to lose the money, don't use it.
• Peace of mind can be bought and sold, so don't make decisions that will keep you up at night.
• Think about diversification in terms of capital stack, not just industry.

Watch the video on YouTube:
42 Recession Proof Money Hacks (2023) - YouTube