Many economic experts predicted an economic downturn to take place in the latter part of 2015. I wonder if this stock market activity, or lack thereof, is an indicator of this so called economic downturn.
I'm not one to go all doom and gloom but it did kind of hit me today that maybe these guys were just off a few months in their predictions. So let's just throw this out there: suppose an economic downturn actually happens. Am I ready? Are you ready? Is my pantry stocked? Not really. I mean it does have items but I couldn't live out of if for months on end. What about water? Do you have enough water for everyone in your family to last a week? And what about savings? I'm still planning on paying down our car loan and mortgage but maybe put more into savings instead than previously planned. I remember when the country was in the recession that Suze Orman kind of stepped back from advising folks to pay every extra cent to debt. I believe, if I remember correctly, her reasoning was pretty obvious-to build up the savings account because people were losing jobs and homes left and right.
Does this news about the stock market make you sit and think about your financial plans?