Within investment categories – I teach 4 categories – Business, Property, Paper and Cash – there are always ups and downs in each category. Recessions are exactly the same, some investments within each category will go up and some investments will go down. Financial Education will teach you what to look for and how to position yourself to take advantage of the situation.
For instance, in a previous blog, I spoke about how in business, some traditional businesses will struggle in a recession, but how there are businesses which will thrive in a recession. Owning one or two businesses will allow you to use the economic markets to your best advantage to grow your wealth and support or even improve your current lifestyle.
These do not need to be big businesses they can be side hustles that can produce regular income for a small amount of regular working hours per week. Often an hour a day will have significant benefits.