TheLiveBigWay® Digest: The Recession Question

A recession is coming. In fact, it is always true that a recession lies ahead. Economies operate in cycles, and because the economic cycle repeats indefinitely, we can say with certainty that we are always either living through a recession or anticipating the next recession’s arrival (though we don’t mean to suggest you should spend daily energy on this!). The question is: how is it that, despite the recent issues in the world’s economies, we’ve not seen economic growth contract? We’re going to focus on the three variables that we think are most relevant to our Clients’ lives.

We place a high value on deep, meaningful relationships with our Clients, our community, and our team. We make intentional investments in all of these relationships, and one of the ways we do so with our team is by creating space to meet in-person at our annual staff retreats. The team recently returned from a three-day trip to Boulder, CO, and left with a heightened sense of energy and connection. Here’s a look at how we spent our time together.

We’ll be going live next Thursday, July 27 at 1pm PT | 4pm ET for a special presentation featuring Forensic Document Examiner, Heidi Harralson. During our time together, Heidi will discuss how you can use the power of your hands to balance the brain and explore how to open up the creative potential of the brain through unique handwriting techniques. We think you’ll walk away from the session with fascinating new perspectives and a deeper sense of confidence and resilience. Register today!

We hope you’ll join us in wishing Cristin Stinson a very happy birthday this month! Cristin is our Operations Manager in our Vienna office and has supported the firm unconditionally for the past 13 years. We’re so grateful to have her as a part of our team and wish her a joyous birthday and abundant year ahead. Cristin shared the following photos from her birthday celebrations this year, as well as a few personal sharings into the current ongoings of her Live Big life.

Any exciting plans this summer?

My nephew will be starting his first year of high school in a few short months – so we’re exploring doing some more mature (exciting) activities before school starts. We’re planning on visiting a forge where we’ll be a blacksmith for a day, a day of paintball and we’re planning on doing some white-water rafting. I wouldn’t be surprised if he gets me on a terrifying roller coaster too!

What’s your greatest piece of life advice?

I think I’ve had different mantras at different points in my life. It helps reframe the situation for me. Some that come to mind for me:

• “Everything will be okay in the end. If it’s not okay, it’s not the end.” What resonates for me is that sometimes we just need to know we’ll get through this.
• “Not my circus, not my monkeys.” I’ve learned that sometimes we need to remind ourselves that it’s not our responsibility/problem.
• “When you don’t know what to do, do nothing.” For me this mantra doesn’t mean never do anything, but rather suggests that you hit the pause button, so you don’t do or say the wrong thing in a situation.
• “Just do it tired.” This is my newest mantra (hello birthday and fresh perspective)! We often use this excuse to not invest in ourselves and I’m hoping this helps me overcome that.

An emergency fund is a cash reserve set aside for unplanned expenses or financial emergencies. Think of it as a financial safety net to help you get through difficult times – a job loss, a medical emergency, or even a recession. The most common question we hear when it comes to establishing an emergency fund is, “how much do I need?” As with most financial questions, the answer is, “it depends!” Here’s a few considerations that can help you identify how much you might need.