Is the next US recession looming?

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Is the next US recession looming?

According to the latest economic report by Moody’s Analytical, most U.S states are not prepared for the next recession, which some economists say is not only looming but overdue.

The report further states that it has been eight years since the last economic downturn, making it the third longest expansion period in US history.

This raises some interesting questions, says Dale Gillham, Co-Founder and Chief Analyst for Share Market Education firm Wealth Within. He argues that “if the state is not prepared for the inevitable recession, then most likely mums and dads aren’t either,” says Gillham.

So then the question is that in the face of recent market factors and a possible recession in sight, what can the mum’s and dad’s do about improving their situation?

Quite simply the best forward planning is looking back and learning from the past. For example during the great depression the DJI rose around 380 per cent from 1932 to 1937. In short, recessions spell opportunity rather than fear.

“We are seeing a growing trend, not just in the US but internationally, toward individual responsibility when it comes to people securing their financial future. And, nothing could be a better step toward preparing for the next economic downturn,” he says.

“Being financially secure in a downturn is more about having long-term plans for your investments as well as a savings buffer,” Gillham says.

“People need to be willing to take responsibility for their finances and look at realistic ways to safely leverage their money for greater capital gain. This means having a savings cushion as well as good solid investments.

“What stops most people is a lack of know-how and the fear of making costly mistakes.”

With more surveys and studies identifying a general lack of financial literacy across the population, including among professional people and high-income earners, we are seeing an uptake of financial education and investment courses such as share trading and investing.

“Having seen first-hand the effects of poor investment choices, and lack of financial know-how, we have created an affordable education program to help tackle this problem and empower new investors entering the share market,” Gillham added.

Wealth Within has been credited with the leading share market trading and investing education programs used widely throughout Australasia, with their Diploma of Share Trading and Investment gaining full accreditation from the Australian Government – making it one of the leading share trading/investing courses available anywhere in the world.

Since inception over 15 years ago, Wealth Within has provided share trading education across the Asia Pacific rim and launching in the U.S. more recently – providing new access points to share market education for traders and new investor alike.

With a possibility of a recession looming, the demand for financial education and solutions for future financial planning has never been more essential.

And, although the threat may not seem immediate, its precedent suggests that people need to actively do more and do it now rather than wait until it is too late – whether that be seeking out education and financial literacy streams or preparing themselves for an economic downturn using professional services. Acting now to secure your future will save a lot of pain and discomfort later.

Dale Gillham, as a leading stock market expert, best-selling author of ‘How to beat the managed funds by 20%’, a frequent contributor to Money Magazine and having been featured on CNBC and Sky News, is often sought-after for commentary by media. He is also about to release his latest book through Morgan James Publishing, due out shortly.

For more insights log onto www.wealthwithininstitute.com.au

For media enquiries please contact Erik Bigalk of Men at Work Communications at erik@wearemaw.com.au or +61 447 019 107 or +61 2 8005 7732

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