We are officially in a recession. Today, Rick Bloom takes a look at the historical context of recessions. Then, we run through seven things you should do in our current climate.
- Cash flow and net worth statements
- Reducing household expenditures
- Evaluate your Life insurance
- Reducing debt
- Having an emergency fund
- Have an estate plan
- Look at your portfolio
As always, Rick answers listeners emails. Today, we talk about emergency funds in short term bonds and using banks as trustees.
If you have a question for Rick Bloom, you can email him at Rick@RickBloomTalksMoney.com
Bloom Asset Management website: http://www.bloomassetmanagement.com/