Jill On Money: The upside of a downturn

With prices high and recession fears swirling, Americans are nervous. Instead of feeling helpless, now is a good time to highlight six potential upsides of a downturn in both the economy and financial markets.

Jill Schlesinger 

1. Emergency Reserve funds are cool again. A self-funded safety net can be the difference between tossing and turning and getting a good night’s sleep.

So, while the economy is still growing, make sure that your emergency reserve fund can cover 6-12 months of living expenses. If you’re already retired, increase it to 1-2 years’ worth of expenses, to avoid being forced to sell assets at lower levels just to pay the bills.

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