ReduceDebtIncreaseWealth.com Welcome and Mr. Chuck here as I was driving today I was at this thinking about what's going on in this country with the shutdown of all the businesses and everybody getting sick and everybody, you know some people passing away and different things that the government's doing. And I got thinking, the longer this goes on, the worse it's gonna be for the financial and everybody. If you already had an emergency fund, you're probably tapping into it to pay your bills. If if you're lucky like I am, I'm still working. A lot of people are still working for home but then there's a lot of people they're out of work. I no longer this goes on, more people will be out of work. So the first thing I want to talk about is if you should work or collect unemployment, because with the Fed kind of vary state by state, but the feds got this extra $600 you Get, you get the unemployment check plus $600. Well, that might be more than what you're making every week. So let's say it's a month later, and you're getting that extra 600 bucks plus your unemployment and your business that you work for, say a restaurant or bar or whatever it was, I opened back up and you know, if you go back to work and make less money, what should you do? Should you stay on unemployment and get the money because you don't have to do anything. You could just claim that you're sick or you're afraid that you might get sick. So you got to lay low for a couple weeks or whatever. And put off going back well, I got to thinking about that, you know, yes, some people probably would do that. I'm not you know, saying it's good or bad. I'm just saying some people's got to do that. Then I started thinking you know, this goes on and they're talking about may you know, we're may not even start opening up business to me then. It's not like you're just gonna say Okay, everybody go back to work and All the businesses pop open and it's like nothing ever happened, that definitely not gonna happen. There's gonna be a lot of business out there, maybe one it may be your employer may not open back up. Have you ever considered that the longer you wait before you go back to work, the more businesses that closed down for good, the less jobs are gonna be out there with more people looking for jobs, you may have a hard time finding a job if you wait too long. That was just my thought. It's totally my opinion. So I would recommend anybody if you got a chance to go back to work, do it as soon as possible. Even though you might have to make less take less money in the long run, it might be a better thing to do because if you're wait till your unemployment runs out, or your wait till that $600 goes away, that extra $600 you're getting goes away and maybe too late, because there may be a lot of other people applying for the same jobs. Now with that said, I'm not saying you got to stay, you should stay in the same industry, this is a good time. If you're unemployed, non essential type job, whatever that is, I don't know because I see a lot of people working every day. But if you're home because you're considered non essential other than the hairdressers, the barber or the massage therapists, and you know, physical therapists, those are definitely essential oils. I don't know why they're not working because of the close contact with customers and the risk of getting a virus. I understand that. But if you're working in a job that's not necessary at career, I'm not saying I'm not gonna name any of them, but if this would be a good time for you to look around and to change careers, and the only reason I say that is I'm in Ohio, Ohio, less proactive and shutting everything down early, or at least recommending businesses to you know, social media. distance and reduce the number of staff and work from home and, and all the things that we're doing today, even before the governor shut these businesses down, a lot of them are already doing it. A lot of us quit going out to eat or going to the bars to foot traffic decrease in a lot of these places. Before they were even required to, you know, carry out only for the restaurants. You know, they someone was seeing a decrease already. I heard that today on the radio, we're going to do the right thing because we're all you know, want to protect ourselves, protect our health. I definitely don't want to get a virus that's gonna diminish my lung capacities or the rest of my life. And I'm sure everybody else is thinking the same. So that's the governor's now just a couple weeks ago, the governor was you know, closing down he's now he did every day close down this business and the next day, closed down Another daycare barber shops, beauty salons. I don't know what they call now, but that's what I call them physically, you know, close contact type businesses as he was doing that. So is basically the state governors closing the businesses. Well, I understand he's doing it for the good of everybody and everybody's health. And then the next paragraph or the next sentence, he was on a TVs new conference. He started talking about jobs that were out there for her but he was unemployed to go work. So he shuts down business causes the unemployment and then he tells everybody go find a new job. You know, Kroger, Target, Giant Eagle, Amazon, all hiring throughout the state of Ohio. And I'll go get yourself a job. I thought that was kind of strange and he stole today, dilute Governor was on a radio after they gave out all the, you know, stats and stuff. You know, we still have all these jobs that businesses are hiring Kroger, you know, and he named off a couple of them. Maybe you have to go find yourself a job if you're unemployed because Ohio has I think he said 700,000 people on unemployment as of April 9 2020. So they're urging people to go get a job and I started thinking, why are they doing that? And the only conclusion I can come up with is their think and that the businesses are going to be closed down for a much longer period of time than what we're thinking. I'm thinking maybe everything gonna start to open up maybe at the end of April, early May. But I'm also thinking one social distance thing is going to be commonplace. Everybody wearing a mask is going to be common. You're gonna wear a mask to go to work out the time you're at work, you got a mask on, I know it's gonna be a pain in the butt, but a lot of people's gonna have to do it. Keep your distance. And I'll keep your number of people going in any retail stores gonna be, you know, X number of people, you gotta wait in line to get in, that's gonna be the norm. But when are they going to start allowing businesses small businesses make up what 60 70% of our economy? When are they going to start allowing small businesses to start opening up? Are they going to start doing it in areas that are less affected, I have less cases and then gradually, the big cities are gonna stay shut down longer. Most of us live in a bigger city or a suburb of a big city. So if you look at the general population in Ohio, you got Cleveland, Columbus, Cincinnati, Toledo. And those are the biggest cities. There's a couple other ones in there. But that's the majority of probably, I'd say 75% of all people live in Ohio lives and nearby one of those cities. So if the big cities are going to be closed down even longer, say, August or September, on that, I don't know, I'm not predicted, I'm just saying, and then a smaller community start going back to work. You got to have some people working, but then you got to have a lot of people not working or not able to work because you got businesses shut down. The longer businesses are shut down, the more that affects the supply chains. So now manufacturers are going to start shutting down because they're not selling anything. The warehouses are getting filled up, so they shut down. Then if you don't have manufacturers are not shipping so now, trucks are sitting idle, and truck drivers, you know, he can see my point. It's a domino effect and is going to ripple through the economy, and it's gonna get worse and worse. So in my opinion, I think everything should be up and going sooner, the better. May 1, may 15, sometime in May, and be prepared, you're gonna be wearing a face mask, you gotta be doing social distancing. For a long time to come, and maybe nine months or a year and a half before there is a vaccine that's going to help control this. And hospitals are gonna be busy. And those type of things. So that's all I'm saying. And that's it for this segment, or this podcast and that's all I have to say. Stay well hang in tight. If you're still working. You need to increase your emergency fund. You know why you have emergency fun now. New episodes are released weekly. Subscribe. So you can follow Mr. Chuck's journey to reduce in debt and financial freedom as you do the same. If you liked this podcast, please share Transcribed by https://otter.ai