Your Money Crasher Minute: Fighting Positions!

Welcome to this week's edition of your Money Crasher Minute Having trouble viewing this email? [Click here]( # Welcome to another edition of the Money Crasher Minute! With so much uncertainty in the world these days, you can always count on getting plenty of emails. Thanks for opening this one! I was into karate when I was younger. I was never especially advanced or big enough to do any real damage to anyone. But knowing how to fight back, even if only in theory, made me feel like I could defend myself if I had to. It was good for me as a kid. That feeling comes in handy in the present day too, but not because I expect to need to escape a full nelson hold. Read on and hopefully you'll see what I mean. [Jim_Cirigliano Headshot.png] Jim Cirigliano Editor Quick Market Price Check Last updated: July 26, 4:30pm EST 3,921.05 S&P 500 (-18.25% YTD) $20,924.10 Bitcoin Price (-56.16% YTD) 5.71% 30-yr fixed mortgage Fighting Positions! Depending on to whom you listen, this market represents either a once-in-a-generation opportunity or only the tip of the iceberg, with the worst yet to come. Who’s right? Who knows? When uncertainty about the future arises, one approach is to get prepared for anything. Think of it like getting into a fighter’s stance. [GettyImages-109439932.jpg] Just like that playground bully who started shaving in the sixth grade, the economy is bigger than you and can kick your butt if it catches you flat-footed. You don’t know when, where, or how your opponent is going to strike, so you take a stance that puts you in a good position to respond to whatever they throw at you. You can do this with your money in a few ways, including having [multiple income streams]( or just keeping some extra cash on hand. Having cash set aside is a great way to give you more options no matter what happens. Market rebounds and gives you the all-clear? Invest some extra cash. Economy collapses and you lose your job? Live off your cash for a while. Is the market about to throw us a haymaker? No idea. But if it does, I want to be in a position to block it with an over-the-top "HI-YA!" Cash Stash Now might be the single best time to set up an [emergency fund]( if you don’t have one already. If you’re already in the habit of setting some cash aside, reassess how much you might need to keep liquid on the sidelines. Start by building up one month's expenses in savings; then, if you can, try to build up to three to six months'. It seems like strange advice to hold cash in a period of inflation. Yes, your cash will lose some buying power as long as inflation stays hot. Nobody is saying a pile of cash under the mattress is a good long-term retirement saving strategy. [GettyImages-1313267112.jpg] But keeping enough cash – not too little, not too much – lets you make thoughtful choices from a solid position no matter what happens in the short term. One Door Closes, Another Opens Karate wasn't the only kick-butt part of childhood that slipped away in later years. Just this week, Klondike has [announced]( the Choco Taco will be discontinued. Time will tell whether these frozen treats can [pull a Twinkie]( (be discontinued but then later be saved). In that same vein, getting to go to Toys R Us was a rare treat -- like winning a trip to Willy Wonka's Chocolate Factory but without the Oompa Loompas. When the 70-year-old toy chain ceased operations in 2018, it felt personal. So you can imagine the satisfied smile I cracked when I read [Toys R Us is mounting a comeback]( planning to open mini toy stores within hundreds of Macy's locations nationwide. Finally, some good news! It just goes to show there's always hope, even when the world has knocked you down to the mat. Keep fighting the good fight! Sent to: {EMAIL} [Unsubscribe]( Money Crashers, LLC, 1887 Whitney Mesa Dr #3030, Henderson, NV 89014, United States