How to prepare for recession?
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?
Try not to get laid off
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.
This
Underground bunker with enough non-perishables to last 6-months at least
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
Serious question - how do you buy gold?
IAU ebay - apmex
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
Well who knows where the bottom is. And not everyone has cash. Lots of net worth goes down with equity my friend.
Build up 3 C's: cash + credit + career. You'll be golden when recession hits.
Buy real estate
For real?