5 Ways to Bolster Your Finances in a Recession | Morgan Stanley (2024)

5 Ways to Bolster Your Finances in a Recession | Morgan Stanley (2024)

FAQs

5 Ways to Bolster Your Finances in a Recession | Morgan Stanley? ›

Options to consider include federal bond funds, municipal bond funds, taxable corporate funds, money market funds, dividend funds, utilities mutual funds, large-cap funds, and hedge funds.

What is the best asset to hold during a recession? ›

Still, here are seven types of investments that could position your portfolio for resilience if recession is on your mind:
  • Defensive sector stocks and funds.
  • Dividend-paying large-cap stocks.
  • Government bonds and top-rated corporate bonds.
  • Treasury bonds.
  • Gold.
  • Real estate.
  • Cash and cash equivalents.
Nov 30, 2023

How to prepare for a recession in 2024? ›

How to prepare yourself for a recession
  1. Reassess your budget every month. ...
  2. Contribute more toward your emergency fund. ...
  3. Focus on paying off high-interest debt accounts. ...
  4. Keep up with your usual contributions. ...
  5. Evaluate your investment choices. ...
  6. Build up skills on your resume. ...
  7. Brainstorm innovative ways to make extra cash.
Feb 22, 2024

Where is the safest place to put your money during a recession? ›

Options to consider include federal bond funds, municipal bond funds, taxable corporate funds, money market funds, dividend funds, utilities mutual funds, large-cap funds, and hedge funds.

How to Prepare for a recession Dave Ramsey? ›

Here are seven steps to help you prepare for a recession:
  1. Don't panic. ...
  2. Take a look at your finances. ...
  3. Get on a budget. ...
  4. Build up your emergency fund. ...
  5. Leave your investments alone. ...
  6. Pay down your debt. ...
  7. Reevaluate your job situation.
Apr 5, 2024

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