Depending on who you talk to, we’re either quickly approaching a recession or we’re already in one. Either way, there’s been a significant pullback in the economy this year and we wanted to help ease your mind about what to expect during times like these.
So today we want to approach the conversation of navigating a recession from a few specific angles. First, how did we get here and what’s causing it? Then we’ll look at some of the past recessions and see what we can learn from that experience. And finally, what are some of the practical things we can do to reduce our risk during a recession?
By the end of this conversation, hopefully you will have learned something about recessions and picked up an action item to apply to your financial plan.
Here is some of what you will learn in this episode:
- How did we get here and what factors have led us to a recession? (2:41)
- The strength of the dollar and the issues it causes around the world. (6:04)
- What can we learn from past recessions? (11:52)
- What can you do now to prepare for a recession? (17:33)
- Now is the time to assess the risk in your portfolio and make any necessary adjustments. (21:01)
If you have any questions about what we discussed or anything else in your financial plan, email us at firstname.lastname@example.org.