1. 程式人生 > >Ask HN: Is this the beginning of the 'Greater Recession'?

Ask HN: Is this the beginning of the 'Greater Recession'?

Seen it all before. If you think about it there is always an incoming "severe market downturn" - it's just that very few people can predict exactly when it will happen (look at 2008).

What really matters is this: do you have a strategy in place should things go south? Have you learned the lessons of 2008?

1) Do you have decent liquidity? 2) Do you have a diversified portfolio? 3) Have you been continually improving your skills and knowledge and expanding your types of skills? 4) Have you created multiple streams of income (both active and passive)? 5) Have you minimized your ongoing costs and developed a frugal lifestyle, or do you have an excessively high "burn rate"? 6) Have you kept debt to a reasonable and manageable level (i.e. you pay off your full balance on credit cards, you have a manageable fixed interest low interest rate mortgage). 7) Do you have an emergency fund in place?

You can't control the global economy. There will be wars including trade wars and corrupt politicians etc etc What you CAN predict is your own strategies, behaviours and preparedness.