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- [00:03]
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Are you someone who tries to drive all distracted by your phone? Someone who props it on the steering wheel or peeks down at it for a glance or just scrolls and scrolls? If so, you could be the next person to get into a fender bender, get a ticket, veer off the road, or even cause a crash that kills you or someone else. Enough already. Put the phone away or pay. Paid for by nhtsa.
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Welcome to the Candy Valentino show, the podcast for founders, investors, and entrepreneurs where we have honest conversations about what it takes to grow your business, build more wealth, and create financial freedom. Hey, guys, welcome back to the show. I'm Candy Valentino. Thanks for tuning in with me today. Whoo. We got a good one. So let's buckle up. Me, you, and I'm ready with my second cold brew. So let's get into it. If you've been listening to the show these past few weeks, you already know that I have been tracking this chess match. The tariffs, the trade war. And yesterday we saw one of the moves that we were waiting for. So let's break it down. If you've been following the headlines, the news, and then trending topics, everybody's talking about it. Actually, I shouldn't even say everybody's talking about it because quite frankly, I'm shocked at the lack of reporting that has talked about this since yesterday. I was on Good Morning Arizona yesterday with Scott talking about this and literally thought that this was going to go viral. The Wall Street Journal, the New York Times, entrepreneur. I've been getting, I get these emails every single day. I look at this every day and they're not really talking about it, as big of a deal as it is. So I'm gonna share the BTs behind the scenes. Let's pull back the curtain. Let's no BS this. Let's share what exactly happened. Now, obviously, if you've been following it at all, President Trump announced the 90 day pause just yesterday on most new tariffs. Not all, but most. And what happened then was 75 countries came to the table, like literally scrambling towards us as opposed to us trying to get them to the table to strike deals with the U.S. why? Because the proposed tariffs were going to hurt them way more than they were going to hurt us. But here's the kicker. China didn't get that pause. Instead, Trump slammed them with another 125% tariff hike. And what happened? The markets exploded. If you, if you were watching it and if everybody was seeing red, red, red this whole time in their stock portfolio, well, you just saw a lot of green yesterday. The S&P 500 jumped almost 10%. The Dow popped almost 8%. The Nasdaq shot up over 12%. In the global markets, Japan, Germany, the whole slate of them continued to fall and pop. Green, green, green, green. It was the most beautiful thing that we've seen in a really long time. But if you've been listening the show and you've been keeping a cool, level head about this and you've been buying the stocks while they were on sale, buying down, as I've been sharing, keeping perspective, understanding that this is where real wealth is made, well, you are smiling right now because this was one of our first payoffs. Now why did this happen? It's really simple leverage. This was the classic strategy of art of the deal. They're calling this art of the tariff deal. Trump really started out big. He threatened everyone. And what happened? It got 75 countries begging for negotiations. Japan, the biggest holder of US securities, started selling off Treasuries, which really added more pressure. The markets got shaky. The terms went from recession to depression. Tensions became at an all time high. And then the pivot. Well, unless you're China, but let's talk about the pivot. Remember, this was a game of chess, not checkers. Trump strategically isolated China and gave the rest of the world an off ramp. It was crazy. Reckless to some, bold to others, but regardless, it worked. And so now what does this mean to you, your money and your bottom line? Well, number one, if you stayed the course and you executed and you didn't just listen to this information, well, you just got paid. So let's celebrate that. Number two, this is a reminder that volatility and uncertainty creates opportunity. So if you're disciplined and you're paying attention to the opportunity and realizing that building wealth is so much of your psychology and understanding that what you do in the times when it's good, meaning that you stack cash so that you have more cash to deploy. When the market or the business or anything has uncertainty now, you're going to get paid bigger on the other side. That's literally what just happened. And number three, China's move backfired. They matched our tariffs and instead of it hurting us, they actually proved the United States point that China is not negotiating in good faith. So this now means more pressure on China, not just from the US but from the global markets. And likely a deal is coming in the long term. And if that happens, markets are going to go even higher. So if you've been dollar cost averaging down, if you've been sticking to fundamentals, if you've been keeping your emotions out of it and not listening to all of the fear and all of the clickbait that the news and the media is trying to sell you, this week just proved that this strategy works. And now look, this whole storm isn't over. But yesterday was a glimpse of sunlight that I believe everybody was waiting for, everybody was hoping for, everybody was really concerned that, oh, my gosh, is this the end of the world as we know it? Is this the end of the strength of the US and my gosh, I've heard from economists with fancy Harvard degrees that I'm sitting there listening, going, have you been stuck too long inside of that university? Because that's not the way the real world works. Like this is going to work out. I mean, we just saw the S and P jump more in one day, creating the most significant gain since World War II. I mean, come on, like. And meanwhile, just two days ago, I was listening to this Harvard economist saying that this is going to be the collapse of our dollar. It's like, oh, my gosh, I wish people would bring common sense to economics and understand that so much of the world has been taken advantage of our market. And the easiest way to explain this is if you have a business or even if you have a side gig that you're working on within your day job. Like, and if you have some partner, right, that you're sending them business and they're sending you business. Like, if we just strip this down to really simple, it's like, well, what are all these trade deficits about? Well, let's assume I have a business and you have a business. You send me business, I send you business. But you're sending me endless amounts of business because I have all of these customers that you can service. But on the flip side, you're not getting the same back. Well, how is that fair? And literally, that's what was going on in the US we have all of the customers that all the global markets want access to, and they weren't selling our products in the same way. And again, I'm super stripping it down and trying to generalize it. But really, that's kind of what happens in these trade deficits. Right? That's what we hear these talks all the time. Really, what it means is the US consumer is buying all of this stuff from all these global markets. And because of that, because of the race to the bottom, because they can produce and manufacture products so much less than us, because they don't have OSHA and they don't have employment laws and they don't have all the protections for their workers, well then we don't actually get to produce all of our products like we used to. That's so much of what the focus has been. And like I said on a couple of weeks ago, like the 1970s, that that model when a family could have one income household, when somebody could work at a steel mill or in the coal mine and have great benefits and a pension and mom or dad could stay home, like that is gone. And again, that might not be what you want your life to look like, but man, wasn't that nice to have the option. And that's part of this. So when people, and I hear it so much on legacy media, when they're talking about the tariffs and they're just talking about it as one slice of the pizza as opposed to the way it works in the whole strategy of revamping everything. I mean, the reality is if you have a business that is not profitable, if you have a business that is spending more money than it is bringing in, what do you have to do? You have to make drastic decisions to reduce expenses to understand where your most profitable revenue is coming from. That's our country. We have been spending and spending and spending and we don't have enough income coming in and we're taxing our own citizens to death. So I knew this was going to happen before the fall. I did not think it was gonna happen on April 9, but it was a beautiful day because I was dollar cost averaging a few of my favorite stocks the whole way down. So it was a beautiful morning. I hope you're celebrating with me today and if you're not, that's okay. I can't tell you how many opportunities I missed out early on and still do today because you don't quite know where the bottom is and we certainly don't. This could change drastically today, tomorrow, next week, next month. But the point is this, the lesson is this. Always make sure when there is instability in the market and you're getting common sense economic information that you know that when those stocks are on sale, that's when you want to stock up. And even though you may watch your 401k balance or your SEP go down, unless you sell those stock, you don't actually lose anything. So remember to stay invested, stay level headed and stay the course. Now I want to zoom out because I think there is a massive lesson. Outside of tariffs and outside of the strategy and outside of this chess match that we just witnessed, to me there is an even bigger lesson here, and that's this.
- [10:59]
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Are you someone who tries to drive while distracted by your phone? Someone who props it on the steering wheel or peeks down at it for a glance, or just scrolls and scrolls? If so, you could be the next person to get into a fender bender, get a ticket, veer off the road, or even cause a crash that kills you or someone else. Enough already. Put the phone away or pay. Paid for by nhtsa.
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Hey guys. Our show is made possible because of our sponsors. Without our sponsors, we would not be able to keep this show free for everyone who listens. And this is a message from one of our sponsors, Intuit TurboTax. You know, taxes was dealing with piles of paperwork and frustrating forms and then waiting and wondering and worrying if you were going to get any money back. Now taxes is easily uploading your forms to a turbo tax expert who's matched to your unique tax situation. An expert who's backed by the latest technology which cross checks millions of points for 100% accuracy. While they work on your taxes, you get real time updates on their progress and you get the most money back guaranteed. All while you go about your day. No stressing, no worrying, no waiting. Now this is taxes intuit TurboTax. Get an expert now on TurboTax.com only available with TurboTax Live. Full service real time updates only in iOS mobile app. See guarantee details@turbotax.com guarantees when we hear the word wealth, we only think of one thing, typically money. It's just what we were talking about now, your bottom line, your profit, your money, the market, what's next. But I want to challenge you to think about a few other types of wealth, because real success and real wealth isn't just about how much you have in the bank. And just last week I was with our founders members, we had a two day event in Florida and we were talking about, you know, profit and revenue and growth and so many things that people are focused on. But there are so many other types of wealth. And what I have seen, not only in my own life, 26 years in business and investing, but working now for several years with other people, other entrepreneurs inside of their businesses, partnering in other businesses, having a portfolio, a holding company of other businesses with other partners, founders, things like that, like I'm seeing this as a very broad issue that impacts so many people. And if it doesn't impact them in their first five years in business or 10 years, it eventually will at some point. And it's this. I see one trap that most people fall into. They Chase one sort of wealth really hard or even two types of wealth really hard, and I'm gonna break into what those are, but they end up sacrificing something in the process. And that is because financial wealth, cash assets, stocks, real estate, is not the only type of wealth. And the second type of wealth that most people focus on, when they're focusing on that one, financial wealth. Money is also social wealth. They're focused on status, building their reputation, how much influence they have in the world. That's social wealth and not relationship wealth. Totally different. Relate. You can have social wealth. You could focus on your reputation but not have much character. Relationship wealth is totally different. But I see so many people focusing on money and status that they actually sacrifice the last two things that most people are focused on and most people want when they start a business, which is time, wealth, freedom, controlling your day, how you spend your day, who you spend it with, what you do, where you go, and as often as you do it. That is what most people start a business for. That's what most people want to retire for. That's what most people want to work hard for and build financial wealth so that they end up having it. Meanwhile, they don't realize that they're trading it away the entire time. They're focused on social status and money. And how do they do that? They say, yes, in the moment, the bigger job, the second business, the flashy partnership. But it all comes with a leash. A calendar full of obligation, a body that's running on fumes, your health imploding on itself, a life that ends up feeling like you're in survival rather than success, that you're on the perpetual entrepreneurial hamster wheel, that you're not climbing rung by rung on the ladder to a new level of intentional growth. I've seen it hundreds of times. And don't be mistaken. I am certainly not saying that money isn't valuable. It is. It gives you options. It solves problems. It matters, but not at the expense of your time, your freedom, and your health. So I want to challenge you this week in a world that is going to sell you more, more, more. And what you need, more followers, more flash, more this, more that. I want to challenge that thought process to know that the only way that you are ever going to really expand, to build fulfillment, to have everything that you want in life is by eliminating. We often have to eliminate to expand. We have to create our yes no list. What are we going to say no to so that we can actually say yes to the things that we truly want to do the things that light us up, the things that create the most impact. And my tactical challenge is this. Audit your calendar this week. Take one hour. At some point this week, Friday, Saturday, Sunday, you're an entrepreneur or you're an intrapreneur working as an entrepreneur inside of somebody else's business. So I know you're working the weekend too. So take one hour with your coffee, just like I'm talking with you right now with my coffee. Take one hour and audit your calendar. Audit your commitments, your energy, and ask yourself a couple questions. Is this building financial wealth? Is this building my reputation? Or is this quietly draining my physical health or my time wealth? We've only got so many chips to play, my friends. Make sure that you are betting on the right table. Make sure you are going all in on the things that you truly want. Because like I always say, if you allow the world to define what it is that you want in life, you may get to the end and realize that it wasn't the path that you wanted to walk down. So take the time to create that yes, no list. Audit your calendar. Keep your head clear. Make sure that you're protecting your energy and your health. Because remember that real wealth is far more than money. Thanks so much for tuning in and spending this time with me today. We'll see you next time. Hey guys, thanks for tuning in to this episode and if there was something that you loved or you had a specific takeaway, share it and tag me at Candy Valentino. And if you haven't already, grab a copy of my latest book, the 9% Edge Life Changing Secrets to create more revenue for your business and more freedom for yourself. You can pick it up anywhere books are sold, Amazon, Barnes and Noble, or your local independent store. And once you do, head over to 9% edge.com and claim $1,500 in pre order bonuses, including a chance to join me on this very show. Thanks so much for tuning in and spending this time with me today, guys. We'll see you next time. This is Women's Work with Nicole Kahlil. I would rather have the temporary pain of discomfort than the avoidable pain of regret. There are too many of us there. We're waiting for someday and the clock is ticking, redefining what it means to be doing woman's work. Make sense of this wild, chaotic and beautiful world and your place in it. That is woman's Work. This is Woman's Work from Believe, Follow and listen on your favorite platform.