Given all the uncertainty and COVID-19 situation, it would be good to prepare for a possible recession, but how can I be prepared?
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Being of value to your boss. If you're self-employed, being of value to your clients and customers.
On the practical side of things tho, yes, following Kenneth's lists is a really good idea. If a recession really do goes down, interest rates would tend to be lower, thus refinancing would be a good idea. Keeping cash is incredibly important.
One thing I would also like to add is relationships. During the recession, it'll be a blood bathe, people would be out of jobs, market would be crashing. But end of the day, what's most important is that we don't lose humanity. We don't lose hope. It's the most trying time where we see ones true colours. Priorisites relationship above everything else.
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Kenneth Lou
13 Mar 2020
Co-founder at Seedly
I guess this is where 'preaparing for a rainy day' really comes into effect.
It is very true that m...
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invest in yourself (education)
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think ultra-longterm as to investments, no change needed to the following thoughts:
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