Hearing talk about a recession is a pretty scary thing. Whenever a recession hits, it brings a ton of discomfort and uncertainty for individuals and their finances. In today's episode, we're diving deep into what a recession is, factors that can contribute to a recession, the impact that a recession can have on your finances, and how to prepare your money to remain financially successful in the midst of a recession.
In This Episode We Talk About:
- What is a recession?
- What causes a recession?
- How long can a recession last?
- 4 phases of the economic cycle
- 6 steps to recession-proof your finances
Sources & Extra Reading!!:
https://www.investopedia.com/terms/b/businesscycle.asp
https://www.forbes.com/advisor/investing/what-is-a-recession/
https://www.bankrate.com/personal-finance/smart-money/watch-these-indicators-know-when-recession-could-be-coming/
https://www.kiplinger.com/article/investing/t038-c032-s014-4-key-indicators-of-a-looming-recession.html
https://www.thebalance.com/what-is-the-business-cycle-3305912
https://www.investopedia.com/ask/answers/042415/what-average-annual-return-sp-500.asp
https://www.forbes.com/advisor/investing/what-is-diversification/
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Disclaimer: The content and information provided on this podcast is for educational purposes only and does not constitute professional financial, legal, or tax advice. For recommendations on your specific financial situation, you must additionally seek the services of an appropriate licensed legal, accounting, tax, or investment professional.
Music Written By Chris Glassman