I've been investing for more than 40 years and have learned lots of lessons over the decades, many by making mistakes. One of the most important lessons I've learned is also one of the most simple. As I wrote years ago in an article called The 10 Golden Rules of Becoming a Millionaire: 

Rich people ring the register when the economy is booming, but that's not when they created their wealth.

You get richer by investing when nobody else will: when unemployment is high, the market is tanking, everybody's freaking out, and there's nothing but fear and misery on the horizon.

The cyclical nature of our economy all but ensures bad times will periodically occur, and human nature all but ensures that when bad times happen, most people will freeze like a deer in the headlights. But downturns are the time you've been saving for.

If you think the world is truly ending, buy canned food and a shotgun. If not, step up. As billionaire investor Warren Buffett famously advised, "Be fearful when others are greedy and greedy when others are fearful."

In other words, recessions and the stock market tumult that often accompanies them may be jarring in the short-term; but in the long term, they can make you rich. That is, if you're prepared. To put it another way, investors need to make hay while the sun isn't shining.

That's what this week's "Money!" podcast is about. We're going to give you an educated guess as to when you might see the next major economic downturn, but more important, we're going to give you the tools you'll need not just to survive, but to thrive in the aftermath.

Want more information? Check out these resources:
9 Ways to Brace Yourself for the Next Recession
Freaking Out About the Stock Market? Read This
20 Dumb Investing Moves and How to Avoid Them
5 Ways to Profit From a Recession — If You Act Now
Staying Alive: How to Make Money in a Recession
3 Good Things About Recessions
Motley Fool: How to Prepare for a Stock Market Crash
Yahoo Finance: Warren Buffett on Preparing for the Next Stock Market Crash
Investopedia: 6 Ways to Prepare for a Market Crash
Acorns: How to Prepare for a Recession
Money Talks News' savings account search tool
Subscribe to the Money Talks News newsletter
Take our course The Only Retirement Guide You'll Ever Need
Take our course Money Made Simple
Miranda Marquit's website

I've been investing for more than 40 years and have learned lots of lessons over the decades, many by making mistakes. One of the most important lessons I've learned is also one of the most simple. As I wrote years ago in an article called <a href="https://www.moneytalksnews.com/slideshows/the-10-golden-rules-of-becoming-a-millionaire/">The 10 Golden Rules of Becoming a Millionaire: </a>
<blockquote>
Rich people ring the register when the economy is booming, but that's not when they created their wealth.
You get richer by investing when nobody else will: when unemployment is high, the market is tanking, everybody's freaking out, and there's nothing but fear and misery on the horizon.
The cyclical nature of our economy all but ensures bad times will periodically occur, and human nature all but ensures that when bad times happen, most people will freeze like a deer in the headlights. But downturns are the time you've been saving for.
If you think the world is truly ending, buy canned food and a shotgun. If not, step up. As billionaire investor Warren Buffett famously advised, "Be fearful when others are greedy and greedy when others are fearful."
</blockquote>
In other words, recessions and the stock market tumult that often accompanies them may be jarring in the short-term; but in the long term, they can make you rich. That is, if you're prepared. To put it another way, investors need to make hay while the sun isn't shining.
That's what this week's <a href="https://www.moneytalksnews.com/podcasts/">"Money!" podcast</a> is about. We're going to give you an educated guess as to when you might see the next major economic downturn, but more important, we're going to give you the tools you'll need not just to survive, but to thrive in the aftermath.
Want more information? Check out these resources:
<ul>
<li><a href="https://www.moneytalksnews.com/10-ways-prepare-yourself-for-the-next-recession/">9 Ways to Brace Yourself for the Next Recession</a></li>
<li><a href="https://www.moneytalksnews.com/freaking-out-about-the-stock-market-read-this/">Freaking Out About the Stock Market? Read This</a></li>
<li><a href="https://www.moneytalksnews.com/20-dumb-investing-moves-and-how-to-avoid-them/">20 Dumb Investing Moves and How to Avoid Them</a></li>
<li><a href="https://www.moneytalksnews.com/5-ways-to-profit-from-a-recession-if-you-act-now/">5 Ways to Profit From a Recession &mdash; If You Act Now</a></li>
<li><a href="https://www.moneytalksnews.com/staying-alive-how-to-make-money-in-a-recession/">Staying Alive: How to Make Money in a Recession</a></li>
<li><a href="https://www.moneytalksnews.com/benefits-of-recessions/">3 Good Things About Recessions</a></li>
<li>Motley Fool: <a href="https://www.fool.com/investing/stock-market/basics/crashes/how-to-prepare-for-crash/">How to Prepare for a Stock Market Crash</a></li>
<li>Yahoo Finance: <a href="https://finance.yahoo.com/news/warren-buffett-preparing-next-stock-151239455.html">Warren Buffett on Preparing for the Next Stock Market Crash</a></li>
<li>Investopedia: <a href="https://www.investopedia.com/articles/financial-advisors/100615/how-protect-your-portfolio-market-crash.asp">6 Ways to Prepare for a Market Crash</a></li>
<li>Acorns: <a href="https://www.acorns.com/money-basics/the-economy/how-to-prepare-for-a-recession/">How to Prepare for a Recession</a></li>
<li>Money Talks News' <a href="https://www.moneytalksnews.com/rates/savings/">savings account search tool</a></li>
<li>Subscribe to the <a href="https://www.moneytalksnews.com/#newsletter">Money Talks News newsletter</a></li>
<li>Take our course <a href="https://unb.moneytalksnews.com/retirement-guide/">The Only Retirement Guide You'll Ever Need</a></li>
<li>Take our course <a href="https://www.moneytalksnews.com/courses/money-made-simple/">Money Made Simple</a></li>
<li><a href="http://mirandamarquit.com/">Miranda Marquit's website</a></li>
</ul>

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Money Talks News: The Podcast

How to Prepare for the Next Recession or Market Crash

https://api.omny.fm/orgs/67ee9ddc-11a3-4cec-841d-ac9a015d5b41/clips/9d270066-1992-452f-8bfb-ad8100f87398/transcript

Transcript

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