Listen on Apple | Spotify | YouTube | Android | Google
I’ve gotten a lot of questions about the recent Silicon Valley Bank failure and what it means for business owners everywhere. In this episode, we’ll talk about the cause and implications of the bank’s failure from a high-level (don’t worry, you don’t need a finance or banking degree to follow along!) and the takeaways that could help protect your business moving forward.
Are you ready to pay yourself a 6-figure salary and build a 7-figure wealth portfolio? My Millionaire CEO Incubator program empowers six-figure entrepreneurs to get off the cash flow hamster wheel and start making wealth-building investments in business and in life. Visit Millionaire CEO Incubator to apply for my signature 6 month profit coaching and wealth-building program!
In this episode, you’ll learn:
2:45 How banks operate
6:10 What is the FDIC?
7:53 The background on Silicon Valley Bank
12:49 What happened to cause Silicon Valley Bank’s failure
16:53 What to expect from a recession
19:17 How much money you can safely keep in the bank
20:52 Two investments you should hold off on right now
23:14 Why and where you should diversify
Click here to listen to this week's episode!
If you love the podcast, please leave me a review on Apple podcasts and share with a friend! This helps me share more knowledge with people like you so they can become more financially literate, create more profit in their business, and feel more financially stable and secure. Click here and scroll to the bottom to leave a review and make sure to let me know what you're finding the most helpful!
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Catch all the video versions of the podcast on YouTube
Get in touch with Sarah to add a CFO to your team