If America’s recession pattern continues, our next downturn may occur before the end of this decade. Will you be ready?
The word recession is often thrown around on the nightly news and in the papers, but what exactly does it mean? Simply put, a recession is a period of decline in economic activity that lasts at least a few months. Some of the more visible signs of a recession are a plunging stock market and sharply rising unemployment.
If you’re dependent on a job for income—as most of us are—or close to retirement, then the idea of losing your job or seeing your life’s savings take a nose-dive can be a major source of stress, especially since recessions are so hard to predict.
