We are in a recession. There’s no denying it. I don’t care if the official measurements about two-quarters of a downturn haven’t come out yet. You cannot have the level of unemployment that we have and not be in a recession. What does the recession mean for your money? How does the recession affect your retirement?

History of Recessions:  

History has shown that in previous recessions people who kept their money in the market did better than those who tried to time the market. There’s a caveat to that though, which is that you had the right financial plan in the first place. The right financial plan for you should act as the foundation, as an anchor, so you don’t end up making decisions based on emotion.

Having a Financial Plan:

I think you should make sure you have a custom financial plan based on your individual situation. This will help you not take more risk then you’re supposed to. Then, you won’t get spooked out of the market.

If you don’t have a plan, it’s time to get one! I believe it’s best to have a financial plan that goes out for 20 or 30 years. It doesn’t have to be complicated. We realize at Johnson Brunetti people want simplicity. Also, make sure that you have a custom financial plan based on who you are as an individual, not based on what some software program says.  

Use a Fiduciary:

If you’re going to get professional help, I recommend you use a fiduciary. If you use a fiduciary, it means they must act in your best interest by law.