I don’t have much in terms of investments (401K). I was wondering if there is anything I can do to minimize the impact of the incoming recession on my financial position.

1- What do I do with my 401K? Do I keep it in the same funds or should I look into reinvesting it in different funds? 2- Should I keep an eye out for “the dip” and buy in? What? Market funds? Bond funds? ETF? 3- In terms of stocking up, what’s the best approach? Bottled water obviously, but what else? 4- I am almost done paying off my credit cards. However, I bought a new car last year. Other than looking into refinancing to a lower APR, is there anything else I can do?

Until last year, I never thought much about how to survive the many “once in a lifetime“ shitshows we are seeing and usually rolled with the punches because I mainly didn’t have the financial means to do so.

Now that I am somewhat financially capable –a privilege not many of my fellow countrymen have unfortunately– I want to try and minimize the damage that is incoming.

Any advice/suggestions would be greatly appreciated. Thank you in advance.

  • prof_of_memeology@piefed.social
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    14 hours ago

    German here.

    I’m heavily invested in US Stocks. Lots of blue chips, tech stocks and dividend payers. I’m worried the US is heading down a very very bad path right now. But I’m hoping it will at some point recover from this insane administration. If it doesn’t we will have a global crisis. If it does, US stocks will come back. So my bet is the US will come back at some point. So even though I’m now balancing more in favour of other countries, I will continue buying US stocks, because I believe in the companies.