Want to Recession-Proof Your Assets? Here Are 7 Ways To Do It

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Want to Recession-Proof Your Assets? Here Are 7 Ways To Do It

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Preserve your wealth with gold and silver

Being wise about your investments won’t be enough. Inflation is able to hammer even the most prudent of these choices. Have you taken any look at your 401(k) balance lately? In order to secure your retirement against recession, you have to diversify.

And since gold has been the standard when it comes to wealth for many years now, you should consider it. Gold is a very important part of modern electronics. Plus, it never falls under the government currency rules. You can either buy gold bars or coins or invest in a “gold IRA” that’s strictly done to Internal Revenue Service regulations.

Shield yourself against expensive car repairs

The advanced safety features on a car these days are beneficial to aged drivers, but they will burn down your wallet. 10 years ago, the average repair was $1,600. Now it’s $4,000. The average driver keeps his car for 12 years, but the typical manufacturer warranty only lasts for three.

So you must ask yourself: What would a car-repair bill do to my budget? If your car breaks down or needs service, you could contact a firm that takes care of your car, by offering vehicle service contracts.

Protect your family and your future now

If you think that Medicare will take care of your long-term care insurance, then you should think again. For example, after an illness or accident, the hospital is able to release you to a recovery center, until you feel you can manage on your own. But Medicare doesn’t cover this “custodial” care, and if you pay it out of your pocket might cost more than you ever planned on spending. Add inflation to that, too!

Diversify your portfolio with commercial real estate

Real estate is a safe way of investing because people will ALWAYS need to live somewhere, right? Even if there’s a constant rise in the e-commerce sector, some businesses might need a place to sell their goods and services.

That’s why you could consider investing in companies such as Fundrise, where you could get the benefits of being a landlord without having to worry about tenants. Fundrise investors earned an average annual return of 22.9% in 2021. Even if past performance isn’t guaranteed future results, the return on investment isn’t bad at all.

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