We are officially in a recession.  Today, Rick Bloom takes a look at the historical context of recessions. Then, we run through seven things you should do in our current climate.

1. Cash flow and net worth statements
2. Reducing household expenditures
3. Evaluate your Life insurance
4. Reducing debt
5. Having an emergency fund
6. Have an estate plan
7. Look at your portfolio

As always, Rick answers listeners emails. Today, we talk about emergency funds in short term  bonds and using banks as trustees.

If you have a question for Rick Bloom, you can email him at [email protected]

Resources:

Bloom Asset Management website: http://www.bloomassetmanagement.com/

 

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