recession

022: Are We in a Recession?

May 14, 2020

As the COVID-19 pandemic continues all across the world, we’ve seen some of the most discouraging jobs and unemployment reports in recent history. A lot of investors are worried right now, and it’s easy to jump to the worst possible conclusions.

While this is certainly a crisis, for many people, it’s also a navigable one – and there are definitely things you should and shouldn’t do over the next few months, no matter how the markets react to news, both good and bad.   

In today’s episode of the podcast, we discuss what technically defines a recession and the factors that determine if we’re in one. From there, we dive deep into what you can do to survive (and even thrive) in this moment, how to hold on to your plans, and how to deal with risk in a time when no one’s comfortable losing anything. 

 

Here are just a handful of the things that we'll discuss:

  • The difference between a recession and a depression – and why we are likely in a recession right now. 
  • Why pundits and TV news should be seen as entertainment first and shouldn’t inform your investment strategy.
  • The reasons that now is a great time to talk to your advisor, avoid emotional investing, and hold to the plans you created before this market downturn.
  • Why the markets have been going up despite terrible job reports. 

Inspiring Quote

  • “Usually, we don’t know if we’re in a recession until it’s already over because a recession by definition is a temporary economic decline.” – Ed Siddell
  • “You have to remember, when you’re watching the media and the pundits, they’re entertainers. Very few of them really have the expertise to back it up. They’re trying to entertain – and if it bleeds, it leads.” – Ed Siddell

Interview Resources

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