What is a Recession? Recession Explained 2024 | How to prepare for a recession 2024

Have you ever wondered what a recession is? In this video, we’ll cover everything you need to know about a recession and ways to prepare for a recession.

A recession is a period of economic decline characterized by a decrease in gross domestic product (GDP) which is a measure of the total value of goods and services produced by an economy. It can also include decreases in income, employment, and trade, usually lasting for at least two consecutive quarters. Recessions are generally caused by a variety of factors, such as a drop in consumer demand, reduced levels of investment, or a financial crisis.

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#Recession #recession2024 #RecessionExplained

[KiraWells-rl]

Transfer of wealth usually occur during inflation and market crash at times like this. So for me, this is time for aggressive investment. The more stocks drop, the more I buy. I'm just focused on making better investments and earning more as recession fear increases.

[GillerHeston]

Don’t wait for a crash. Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.

[allenwilliams]

I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it, Investing is a long-term game, so I try to focus on the long term.

[RoykieN.]

Thanks so much, it's very informative and easy to understand. Thank you again ❤

[harrybrain]

It stuns me enormously the way that I go from carrying on with a typical way of life to making over 63k each month
I've gleaned some useful knowledge throughout recent years that there are a lot of plenty opportunities in the financial markets;all it takes is just to focus on the right thing. Credits to Amanda Elizabeth Keller

[kortyEdna]

Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich

[adamweah]

please tell us how to use this recession to make gains! grew my reserve of $110k to over half-a-million dollars between Dec. 2007 and Aug.2008, but the market is different now.

[davidgreen]

Someone told me to surmise 2023 under ten words.
I did it in three
"POST Indulgence Clarity"😊

[eguegueh]

Decrease in GDP
Business
Tax Cuts to Stimulate Growth

[crescentmoon]

it hurts more to those who have Buisenness and industries

[MattOtten-orhd]

In my opinion, preparing for a recession in 2023 requires a combination of proactive financial planning and a mindset shift towards saving and investing. Some of the practical steps that can be taken include building an emergency fund, reducing debt, diversifying investments, and cutting back on unnecessary expenses. It is also important to stay informed about economic trends and to seek professional advice when necessary. By taking these measures, individuals and businesses can weather the storm of a recession and emerge stronger on the other side.

[bickeya.j.m]

Paying of credit cards lots of times is easier said than done.

[WholesomeHolisticKitchen]

Seems to me it’s not all that bad it hurts the govt and stores way more than us hopefully the price of good will go down.

[Afromontana]

Honestly crypto is quite profitable and lucrative it’s been all beneficial with my weekly earns of 22 percent.