On Get Started Investingthis week we find out the best ways to invest during a recession.
The US is teetering on the edge of a recession and Australia could follow suit, but Bryce and Alec talk about the opportunities for investors and how we can best get through difficult economic times.
Listen here
Hey this got us thinking…
As is custom, we went to the trusted Equity Mates Instagram community this week to find out your thoughts on a potential recession. We do a poll on Monday every week, so check in on our insta to get involved. Here’s some of the juicy data from this week…
Do you think two negative quarters of gross domestic product (GDP) growth constitutes a recession?
- 59% said yes
- 28% said not exactly
- 13% said they weren’t sure
Would being in a technical recession change your thinking?
- 17% said yes, more conservative
- 35% said yes, looking for more opportunities
- 48% said nothing changes for them
Debt is often a risk during a recession. How are you approaching debt?
- 5% said taking out more debt
- 21% said they’re paying it down
- 39% said nothing has changed
- 36% said they don’t have any debt
Do you have an emergency savings fund?
- 42% said yes, about 3 months worth
- 39% said yes, 6 months or more worth
- 19% said no, they don’t have an emergency fund
That got us reading…
Recession is the word of the day… but while it’s important to understand what’s going on with the world economy, don’t feel too gloomy. This article shares 7 ways to ‘recession proof’ your life and prepare for economic uncertainty.
[Read the article here]
There has been plenty of debate around whether the US is actually in a recession or not. Traditionally, a recession occurs when a country records negative GDP growth for two consecutive quarters (6 months in a row). And the US has just done exactly that, but officials aren’t calling it a recession. This article explains exactly what a recession is and why the US hasn’t declared one yet.
[Read the article here]
And a beginner’s tip for the week…
| It might be somewhat unrelated to the theme of this email… but it’s guaranteed to help you on your investing journey. This article shares four important steps towards a healthier financial life. [Read the article here] |
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