A recession is defined as two consecutive quarters with a down turn in the economy. Many people believe we are already in a recession. During a recession, the economy struggles, people lose work, companies make fewer sales and the country's overall economic output declines. The point where the economy officially falls into a recession depends on a variety of factors. Rental agents, landlords, and property management companies can thrive during a recession when renting is likely to become a more appealing option, if not the only one available. Some people are reducing debt and creating cash to prepare for early retirement, loss of work and new opportunities that may arise unexpectedly. .
Joining us for our discussion on Preparing For The Recession is who is calling in from his Bainbridge Island WA office . Paul Merriman is a nationally recognized authority on mutual funds, index investing, asset allocation and both buy-and-hold and active management strategies. Now retired from Merriman, the Seattle-based investment advisory firm he founded in 1983, he is dedicated to educating investors, young and old, through weekly articles at Marketwatch.com, and via complimentary eBooks, podcasts, articles, recommendations for mutual funds, ETFs, 401(k) plans and more, at Paulmerriman.com .
He is the author of "We're Talking Millions! 12 Ways to Supercharge Your Retirement. WELCOME BACK TO MASTERING YOUR MONEY, PAUL MERRIMAN