, Columnist
Recessions Lead People to Make Big Money Mistakes
Financial planners share what they tell clients not to do.
Don’t be rash.
Source: scaliger/iStockphoto
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After relishing one the longest bull markets in history, millions of millennials and young investors, myself included, are getting our first real taste of a severe recession — a scenario that often leads to costly, knee-jerk financial decisions.
A global pandemic has made it unclear when routine socializing and in-person events can continue, dealing a devastating blow to many industries. Even a $2 trillion relief package in the U.S. hasn’t provided an adequate safety net. Not to even mention the double-digit unemployment numbers we’re seeing.