What to Do During A Recession to Maintain Your Financial Sanity
In a recession, there are a lot of forces out of your control, including job loss and loss of income. Experts recommend doing the following during a recession to maintain your financial sanity:
- Assess your outgoing cash flow and look for places to cut back if necessary
- Aim to build at least six months’ worth of living expenses in savings and
- Invest in your retirement if you can.
John M. Schneider and his Pittsburgh-based team of financial advisors at JMS Capital Group can help you with wealth preservation strategies during the recession.