In looking at a list of recessions in the United States , I realized that I have been through seven recession during my lifetime. I was born during one, was in high school during another, started my career in the midst of one and have taken early retirement at the beginning of the most recent one. Average time between recessions. . . 7 years.
The reality is that recessions are a fact of life and it's hard to go over 10 years without experiencing one. My future advice to our four year old daughter is to plan on recessions happening. Save more during the good times in order to survive the recessionary times, because recessions will happen.
For more on Crossing Generations, check back every Thursday for a new segment.
This is not financial advice. Please consult a professional advisor.
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