How to prepare for recession?

Amazon Minnies
Aug 14 15 Comments

I was still in college during the last recession. This will be my first one while working.
What are some of the things to be aware of and take care before recession news sinks in?

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TOP 15 Comments
  • Microsoft seagull
    Pay off any debt you have. Make sure you have an emergency fund that can tie you over for some time even if you lose your job.

    My parents were middle-class folks when they went through a big one and it didn’t faze them much because their mortgage was paid off and they were debt free. We just didn’t eat out and didn’t go for any holidays during that recession.
    Aug 14 1
  • Mozilla berrygood
    Try not to get laid off
    Aug 14 0
  • NVIDIA ahjig
    buy non dollar denominated assets; gold etc. the next recession is not gonna be a subprime mortgage crisis; it is gonna be a currency crisis. central banks in europe, china and the us have been weakening their currency in a zero sum competition. Interest rates are gonna go down; quantitative easing will also probably come up.

    TL;DR dollar is gonna be weak. run away from stocks; buy value preserving commodities like gold. Bitcoin maybe, real estate is also ok
    Aug 14 5
    • Dell LUHV04
      Serious question - how do you buy gold?
      Aug 15
    • Cisco trolll
      IAU
      ebay - apmex
      Aug 15
    • Dell LUHV04
      Thank you.

      The eBay apmex price is of regular gold bullion or they charge extra because they are offering coins etc. ?
      Aug 15
    • Cisco trolll
      They typically charge $20 to $40 over spot per coin.

      Keep and eye out on deals: http://www.ebaystores.com/APMEX_W0QQ?_sop=12&_nkw=%22special+price%22&
      Aug 15
    • NVIDIA afangulo
      you could buy Gold ETFs like: GLD, IAU. or stocks of precious metals mining companies.
      you don’t need to buy and take home a physical metal with you.
      Aug 15
  • Amazon / R&D
    ps.ily

    Amazon R&D

    PRE
    Google
    ps.ilymore
    Buy real estate
    Aug 14 1
  • NVIDIA
    420_Blaze

    NVIDIA

    BIO
    BlazeMaster 10K
    420_Blazemore
    As bad as a downturn is, it's also the best time to purchase things on the cheap. When you feel the market is at rock bottom, start buying real estate, stocks, etc. You won't regret it
    Aug 14 1
    • Credit Karma no rsu 😔
      Well who knows where the bottom is. And not everyone has cash. Lots of net worth goes down with equity my friend.
      Aug 15
  • Indeed Odd Job
    Underground bunker with enough non-perishables to last 6-months at least
    Aug 14 0
  • Uber / Eng itsdara
    Build up 3 C's: cash + credit + career. You'll be golden when recession hits.
    Aug 15 0

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