What is a Recession? Should You Be Concerned? (& Statistics for Bear & Bull Markets)
Have you been hearing the word “recession” a ton lately? It feels like we’ve heard it every single day as a looming, sinister concern for each of our financial futures.
In this episode, we’re breaking down what a recession is, whether or not you should be concerned, a look back on the statistics for the ups and downs in the economy throughout history, and what you should consider doing with your investments if we do enter a recession.
Check this one out for some timely advice! We hope this is a support to you as you think through your financial plan.
1) The economy is very cyclical. Ups and downs are a normal part of the economy we live in. As such, recession isn’t unusual; it’s part of the process.
2) Stay invested. We hope that the statistics Kendall shared in today’s episode give you a historical look at high and low markets. You don’t need to be scared. Instead, there is likely great opportunity to consider in a “low” market. Now is not a time to shy away from putting money into your retirement accounts and investments.
3) If you are a retiree, the potential recession might have you worried. If you are retired, your income typically does not change in a recession. This is a small little piece to consider from today’s conversation, but it’s an important one!
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