Hello PF,
I'm 24 and currently work in sales for a software company. I live in Illinois and my pre-tax income is 70k. I've got 10k invested (mix of 401k and Roth IRA) and a 3000 dollar emergency fund. I have no credit card debt and I bought my car with cash I saved (2010 Toyota Camry with 80K miles on it).
I have about 27k (started at 36k) in student loans that I'm making more than the minimum payments on each month (4.5% interest). I live with my girlfriend and our rent is $1650 per month which we split in half so my rent payment each month is $825-ish.
This info might not be super relevant, but I figured I'd include some rough numbers on my situation. Basically, I'm worried that there is a strong chance that we'll see a 2008 level recession in the next 3-5 years. Assuming we do see a recession in that time frame, what can I do to pad myself against any major dip in the economy?
My parents were put through the ringer when the 2008 recession occurred and it put a major strain on our family. I also know that my dad in some ways was able to make it work in his favor (various real-estate investments etc). What can I do now to prepare for a possible recession, and assuming we see one, what can I do during the recession to maximize my gain when the market comes back.
Thanks!
Submitted July 23, 2018 at 10:03AM by dragunight https://ift.tt/2A9DvEm
