5 Things Warren Buffett Says To Do Before a Recession Hits
Build Liquidity
Image Credit- Google
Becky Quick earlier in 2023 that his strategy ahead of a recession is to “keep plenty of cash on hand so that people are going to keep making intelligent decisions rather than those forced upon them
Image Credit- Google
Put Your Money Into Proven Companies
Image Credit- Google
During economic downturns and stock-market slumps, blue chip stocks suffer like anything else, so you might be wary of investing in a company
Image Credit- Google
Stick With the Normal Game Plan
Image Credit- Google
he believes in taking a “business-as-usual” approach before a recession.” You don’t want to suddenly stop investing, but you don’t want to go overboard with it either by gobbling up a bunch of stocks you wouldn’t otherwise
Image Credit- Google
Avoid Putting All Your Money Into No-Growth Assets
Image Credit- Google
It’s tempting to seek a safe financial harbor before a recession by keeping all or most of your money in risk-free checking and savings accounts, where it will likely have little to no growth potential
Image Credit- Google
Keep a Long-Term Outlook
Image Credit- Google
Some recessions last longer than others, but all are temporary. In contrast, the stock market has a decades-long pattern of rising over time