Notas del episodio
What is financial planning in a nutshell? In the case of a financial emergency, do you have a cash cushion large enough to cater to your everyday expenses?
While experts are quick to point out that downturns are a normal part of the economic cycle, you should still be prepared when one occurs.
Whether a recession is near, or a bit further away, here's what you can do to prepare.
- Update your resume.
- Reduce expenses.
- Bulk up your emergency fund.
- Pay down debt.
- Stay invested.
You remember the Great Recession and how harsh it was for so many. So telling you to “calm down” or that “this too shall pass” doesn’t address the anxiety you’re feeling about your financial well-being. The worst thing people can do is they get nervous and pull money out the market. Instead, ...