Harvard Business published an article a while ago that talked about job security and how the younger generation question if their job is secure. No matter how old you are, there is one thing that is certain – gone are the days that we leave school and work at the same career throughout our lifetime. Well, there may be a handful of people such as doctors that may remain in the same career, but still, the vast majority of us will ultimately have two or three careers. One thing to always keep in the back of the mind is what if you are in the midst of changing careers and a recession hits? Or even if you are in a pretty good position but the company you work for takes a hit if another recession occurs? Recession proofing your life should be just as much a priority as having life insurance to take care of your family.
There are some steps you can take to recession proof your life and depending on your financial situation, it may not be too difficult.