23 Things You Can Do To Recession-Proof Your Retirement

Sep 29, 2023 · Andrew Latham, the content director for SuperMoney, suggests a rule of thumb: individuals who are only a few years away from retirement should aim to keep at least 60% of their assets in high-grade bonds. Once retirement is reached, this allocation should be further …

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Mar 13, 2019 · An estimated $2.4 trillion disappeared almost overnight from Americans’ 401(k)s and IRAs when the market crashed in 2008, devastating many Americans' retirement …

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FAQs about 23 Things You Can Do To Recession-Proof Your Retirement Coupon?

How can I protect my lifelong savings against a recession?

Whether you are already in retirement or planning to retire in a couple of years, here are some strategies to safeguard your lifelong savings against a possible recession. The first step when assessing what to do in the face of possible recession is to diversify your investments as much as possible. ...

How can I make a recession-proof life?

6 ways to recession-proof your life These moves make sense in good times and bad. Before making any big money moves, pause and reflect on what's driving your choices. Knowing that you have a plan in place that accounts for good times and bad can be reassuring. It's always a good idea to review your spending and saving. ...

How to save money during a recession?

Using these accounts is another way to save money during a recession, but you may want to check with a tax professional to determine whether the FSA or the child and dependent care tax credit is better for your situation. You can’t use both. 20. Make Wellness a Priority ...

What to do in a recession?

The first step when assessing what to do in the face of possible recession is to diversify your investments as much as possible. Investors have many ways to do this, but the most important thing to remember is to not keep all of your investments in the same few assets. ...

What should I do if a recession hits?

Credit availability tends to dry up quickly when a recession hits. Once these things happen, use your emergency fund to cover necessary expenses, but keep your budget tight on discretionary spending in favor of making that emergency fund last and restoring it ASAP. 2. Live Within Your Means ...

Should you invest in a 401k during a recession?

"Remember, a 401k is a long-term investment and a recession is just a short-term shift in the market; however, if you are expecting to retire in the next few years, you don't want to be 100 percent in equities if the stock market tanks and you need to start pulling out money to fund your retirement that's just around the corner,” says Allec. ...