This content was created by Jeff Watson. This content was uploaded by Jeff Watson. This is a podcast episode titled '#68 - MM - 2020 Around The Corner' (recorded December 30, 2019). The excerpt is an informal multi-speaker discussion (participants identified as SPEAKER A, Luke, and Sam) focused on year-end financial preparation and planning for 2020 — setting goals, closing the year, reducing tax liability, forecasting and budgeting, reviewing 2019 results (gross/net profit), estimating 2020 cash needs, and managing debt and contingencies. The hosts announce a deeper-dive episode on those topics coming Thursday.
Chapters
Alright, guys, hope everyone had a great Christmas. Happy Monday to you. New Year's coming up, new beginnings. Luke, hopefully your Christmas was good. I'm sure it was. I wish you would stop sending me all those Snapchats and pictures of you hanging out with your family.
But you know I don't have snap face. Come on.
On the interwebs. 2020 is going to be awesome, Luke. We're gearing up, we're getting ready. What should people be doing?
You should be getting ready. If you haven't done the things we talked about last week in the money minute, do them today. You only have a couple days left, so make sure you're setting goals. You're closing the year, you're reducing your tax liability, you're doing the things you're supposed to do to get your books in order because some things you can't do after the first of the year. So you got a day or two. Let's knock it out. Above that though, you should be setting your goal and you should have already been forecasting and budgeting for 2020. This needs to be done. Let's get it done.
Yes. This week's episode coming Thursday, Luke and I, we're going to dive real deep into some topics on gross profit, net profit, you know, looking at our 2019s, forecasting, estimating our 2020s, our cash needs that we're going to have in 2020, making sure we're getting out of debt and we're got our contingencies depending on which way the economy goes and the election and all this other nonsense that's happening this year. So tune in Thursday with your pen.
And your paper, take great notes, you're.
Gonna excel, spreadsheet, your abacus, whatever you're using there at the lot, tune in. It's gonna be a great episode. Right, Luke?
All right. It's gonna be awesome.
All right.
Sam.
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