Recession?

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Dgflorida
Posts: 3317
Joined: Wed Oct 07, 2015 8:10 pm

Recession?

Post by Dgflorida » Fri Aug 16, 2019 7:06 am

The nightly business report and other media have reported that due to an inverse interest rate curve, there is a possibility for a recession within the next 2 years. What frugal changes do you make or intend to make should a recession occur?

Quilter51
Posts: 487
Joined: Sat Aug 29, 2015 6:04 pm

Re: Recession?

Post by Quilter51 » Fri Aug 16, 2019 8:13 am

I had so have read two seperate financial.articles ..one by Morgan Stanley that says increased tarrifs could bring the beginnings of one in 9 months. I'm reliant on a pension and SS rather than investments so while expect higher prices other things dont affect me. But I have a sister in pre retirement and a son who is a manager in the restsurant industry so i could need to be prepared to help them.

LogicsHere
Posts: 461
Joined: Sat Aug 29, 2015 9:49 am

Re: Recession?

Post by LogicsHere » Fri Aug 16, 2019 8:26 am

I believe that there will be a recession . . . it's been over 10 years since the last one and everything the current administration has done will make it considerably worse than 2008. I live on SS and have some savings, but i do have money in investments. What they say is not to touch them so all one can do is take a deep breath and not look at one's investment statements when they come in. I will take no more than the required RMD from my 401K and IRa; my annuities, since I don't have to start taking money out if I don't want to until age 85 are OK for now.

mbrudnic
Posts: 2137
Joined: Fri Aug 28, 2015 7:57 am

Re: Recession?

Post by mbrudnic » Fri Aug 16, 2019 8:39 am

I just read an article on this:

https://www.hermoney.com/borrow/debt/is ... gust162019

I think I will continue as I have, and tighten up the belt a bit since I have been spending more than I'd like lately. And pray nothing happens to my job. But things are looking busier for my team.

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Jackielou
Posts: 5764
Joined: Tue Aug 25, 2015 7:51 pm

Re: Recession?

Post by Jackielou » Fri Aug 16, 2019 8:44 am

I hope the recession that you are speaking about does not hit Canada, but the way of things now it probably will.

We will carry on as usual, perhaps with a bit of belt tightening just in case we have to help out our children a bit over any rough patches.

BevMoore
Posts: 680
Joined: Thu Aug 27, 2015 11:04 pm

Re: Recession?

Post by BevMoore » Fri Aug 16, 2019 11:12 am

I'm not sure what to do at this point. I do have a small 401K and will have to start taking the RMD in 2 years. Should I take it out all now or let things run their course?
Bev

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