History tells us that a recession is all but inevitable. But just when the next slowdown will strike is a mystery.

So is there something you should do now to prepare? IBJ columnist Peter Dunn—aka Pete the Planner—says yes. But unless you're within 10 years of retirement, resist making big changes to your investments.

Pete talks to host Mason King about how to look at your budget and evaluate your readiness for a recession, and he offers advice about the kinds of changes that can help. Plus, he explains why you're making a mistake if you try to time the market's ups and downs.

Photo courtesy of Shutterstock.com

This episode of the IBJ Podcast is sponsored by Krieg DeVault.