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Save extra money - my experience from the dot com crash and financial crash is that you should assume you are going to need 6 months of runway and so build up a
by outside1234 7y ago
Save extra money - my experience from the dot com crash and financial crash is that you should assume you are going to need 6 months of runway and so build up an extra rainy day fund that you will have when it hits.
For me, this means deferring big purchases etc. until this is built up again.
Note, this is in addition to your retirement, which you DO NOT WANT TO SPEND during the recession, since the stock market will have crashed then and you will be spending premium dollars there that you want invested for the recovery.