We’ve been talking about the chances of a recession for months now. Thanks to rising rates choking company profits, some Wall Street firms currently have the odds of a recession sometime between now and the end of 2023 as high as 98%.
In a recent podcast episode, we discussed what to do with your savings and investments to prepare for a recession. But today we’re going to look at the other side of the coin: how to profit from an economic downturn.
As usual, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This week’s guest is a friend of the show, Joe Saul-Sehy from Stacking Benjamins.
Remember, even though we sometimes talk about money and specific investments on this show, don’t take them as recommendations. Before investing in anything or making any other money moves, do your own research and make your own decisions.
You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:
Are you prepared for a recession?
There’s always a recession coming, and you need to be ready. Taking a step back and thinking it through is a big part of preparation. Check out some of our resources about recessions and preparing for them.
How to profit during a recession
It’s not enough to just be prepared. You need to be ready to profit during an economic downturn. Joe offers some ideas for investing in Dimensional funds and we suggest getting Joe’s book, “Stacked,” to help you learn more about money and how to manage it. (Check out our podcast episode with co-author Emily Guy Birken, where we talk about how to make money management fun.)
Here are some of the things we talk about—plus additional resources—that can help you get ready to thrive during the next recession.
Meet this week’s guest, Joe Saul-Sehy
Joe is a former financial adviser (16 years) and represented American Express and Ameriprise Financial in the media. He was the “Money Man” at Detroit television station WXYZ-TV, appearing on air twice weekly. He’s appeared in Bride, Best Life, and Child magazines, and in the Los Angeles Times, Chicago Sun-Times, Detroit News and Baltimore Sun newspapers. He’s also appeared online in more than 200 different places, including CNBC.com and WSJ.com.
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About the hosts
Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.
Read More: 3 Ways Recessions Can Make You Rich