There are rumors that we (Americans) are heading into another recession. What steps are you taking to safeguard your career and finances?

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There aren’t rumors. There a massive economic indicators combined with the President (who ran on a promise of reducing cost of living for Americans) admitting that his “economic policies” may result in a recession.

As I’m not a billionaire, I am unable to take short positions on stock or ride the wave of crypto value manipulation, so I’ll stick to what I’ve always done: keep fixed costs low, increase cash holdings, and hope that god has mercy on our stupid American souls.

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I was going to say these definitely aren't rumors. You can look at the numbers and see what is exactly where we are headed. Things are literally getting worse by the day.

Well you can gloom and doom like other posters or you can try to approach things strategically. You can try to move into sectors that are recession proof, consider working for a European based company or a private company that does not have publicly traded stock so the market has less impact on their day to day. Of course have enough cash on hand for 6 months of unemployment. Otherwise try not to let it disturb your peace of mind.

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Sleepless nights,

and keeping some funds in cash so that I can live off savings if I get laid off or buy more stock when the market continues to go down.

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Keeping some funds in cash makes sense. It's wild and annoying how our economy has been on a rollercoaster since late 2008

Every day you see more reports of layoffs, and it feels like the pace is accelerating. So whether we slide into the textbook definition of a recession, this is going to be a memorable year. And for all the wrong reasons. I think the prudent thing to do is have some cash reserves just in case. And I know I'm not doing any spending that isn't required. Like Poor Richard said, a penny saved is a penny earned.

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My portfolio is well diversified and I have a 15-20 year outlook. Not sure it make sense to move more investments to cash or just put the blinders on and ride it out

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