Are Americans prepared for a recession before 2023?
Almost half (46%) of Black and Hispanic Americans surveyed said they would not be prepared for a downturn before the end of 2023, compared to 38% of White Americans. Women were more likely than men to say they were not at all prepared, according to the survey.
What are the financial opportunities of a recession?
There are many financial opportunities from lower prices overall — including the opportunity to buy stocks, real estate and businesses at discounted prices. Rich people love recessions since they are great opportunities to buy low and sell high, take advantage of a stressed job market and otherwise make coin. Here is what you can do:
How can I prepare my finances for a recession?
Here’s what you should do now to prepare your personal finances for a recession: Remain calm. Rebalance your portfolio. Revisit your budget. Max out retirement contributions, if possible. Convert funds to a Roth IRA. Boost your emergency savings. Pay down debt.
When will the next recession hit?
Not everyone thinks a recession is imminent, but financial observers say it will happen sooner or later due to the normal economic cycles at play. Late 2023 or early 2024, for instance, is the best guess of Andy Moore, vice president of advanced planning and portfolio solutions for The Quantum Group in Scottsdale, Arizona.