Your Next Money Move

Bracing for a recession - What should your next move be?


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Not sure how to best prepare for and navigate market fluctuations?

In this episode of the Your Next Money Move podcast we share the best ways to prepare for and thrive during a recession or market downturn. Use these strategies and tips to confidently ride through market swings and make the most of a recession.

3:02 - What should you do to prepare for a recession?

4:30 - What about getting a Home Equity Line of Credit in this market?

5:28 - How can an individual increase their savings to prepare?

6:15 - How should you evaluate your expenses as preparation for a recession?

7:04 - What should you know about investing during a recession?

7:50 - How can you analyze your spending on wants and needs?

9:58 - Why should you stay invested during a market downturn?

12:25 - How does the economy recover after a recession?

13:15 - How should you rebalance your portfolio during market fluctuations?

14:50 - How can you manage your emotions during a recession?

15:50 - How can you best navigate media and news coverage during a recession?

17:45 - How can you use a financial plan to navigate through a recession?

20:15 - What changes have you made with discussion of a recession coming?

23:30 - How should you approach paying off debt as a safety net during a recession?

26:17 - How can you increase the security of your income stream?

27:39 - How can you navigate annuity and insurance salesmen during a market downturn?

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Your Next Money MoveBy Derek Lawson PhD, CFP® and Trent Porter CPA, CFP®