The news recently seems all bad, and it’s easy to fall into the trap that things will never get better. Sorry to ruin the fun for any apocalypse preppers, but it’s not true. Historically, market downturns have been temporary, and we must deal with hiccups as they come along.
R Persichitte speaks about the uncertainties of the future in two news articles.
First inflation. R Persichitte talks about the causes of inflation, how to deal with them, and what we may see in the future. Although this may change in the future, as of publication, we are projecting that inflation will remain higher than it has over the past ten years but will not peak to the level it did in the 70s. The way to deal with it is by managing your spending in the short term and having a long-term plan that fits your goals. Read more in this article featured by GoBanking Rate.
Second, he talks about managing your finances if we wind up in a recession. Persichitte says, “People should always prepare for the worst. We don’t always know when a recession is coming or what will happen next. Start by having an emergency fund for 3-6 months’ worth of expenses. Next, evaluate your long-term goals. A mix of investments can help reduce risks. A well-balanced portfolio is one of many tools to help safeguard against high inflation, a slow stock market, or anything in between.” See the full article at Policy Genius.