How Americans Are Handling Their Recession Fears
The vast majority of Americans now fear an impending economic shift for the worse. How is the average person responding with their finances? What are experienced investors doing differently right now?
A New Recession Seems Inevitable
Between rising interest rates, gas prices, shifts in federal monetary policy, sinking stocks, and declining GDP in the first three months of 2022 most believe a new recession is imminent. There is a good chance we are already in one, but the data to show it hasn't been released yet.
According to recent surveys, 81% of American adults fear a recession this year. In fact, more than half already report that they are under financial stress already.
Even more pressing than the loss of their savings and incomes, close to half of those surveyed in the Momentive Poll say their thoughts are consumed by rising prices all of the time. Only 1% do not seem to be thinking about it.
According to respondents, the bulk of financial stress is coming from:
Gas prices
Housing costs
Food costs
Medical costs
How People Are Reacting
According to the data, consumers are already frantically responding to this financial stress by:
Cutting back on dining out
Cutting back on driving
Canceling monthly subscriptions
Canceling vacations
As we saw by the $54B overnight loss for Netflix investors, it is already having a big impact.
Investors
Many individuals are already crying out in desperation over the outlook for their stock accounts and 401ks.
More experienced investors who have been through these times before are adjusting by getting out of stocks, diversifying, choosing more liquid investments, choosing real estate wholesaling over flipping or rentals.
They are looking for assets that will benefit from these changes, investing short term to grow their money faster than inflation, and putting money back in the bank to seize upcoming opportunities in the recession. They are not holding devaluing cash, but know cash will be king when sellers turn desperate.
REI Businesses
Real estate investment businesses led by experienced managers that have been through it before are preparing by building out their infrastructure so they can scale, building databases of sellers, investing in follow up marketing, and readying to buy a lot at discounts.
Summary
The fact that so many fear an imminent recession, and are reacting with their dollars already is likely to bring it about. The financial stress is already mounting, and will directly impact savings and investments. The experienced know exactly how the cycle plays out, and are getting ahead of it, and positioning to benefit and thrive through it.
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