I don’t have much in terms of investments (401K). I was wondering if there is anything I can do to minimize the impact of the incoming recession on my financial position.
1- What do I do with my 401K? Do I keep it in the same funds or should I look into reinvesting it in different funds?
2- Should I keep an eye out for “the dip” and buy in? What? Market funds? Bond funds? ETF?
3- In terms of stocking up, what’s the best approach? Bottled water obviously, but what else?
4- I am almost done paying off my credit cards. However, I bought a new car last year. Other than looking into refinancing to a lower APR, is there anything else I can do?
Until last year, I never thought much about how to survive the many “once in a lifetime“ shitshows we are seeing and usually rolled with the punches because I mainly didn’t have the financial means to do so.
Now that I am somewhat financially capable –a privilege not many of my fellow countrymen have unfortunately– I want to try and minimize the damage that is incoming.
Any advice/suggestions would be greatly appreciated.
Thank you in advance.
I remember when they sold for $0.98 at Aldi 🥲