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Five Reasons Why You Need a Financial Plan Before a Recession

 

March 26, 2020

StatePoint

However dire a crisis may seem, having a long-term financial strategy will keep you on track to achieve your financial goals.

With speculation swirling that the U.S. economy is heading for another recession, you might be wondering what you can do to protect yourself from feeling the pinch of a slowing economy.

Experts agree that proactive and prudent financial planning is key to avoiding emotion-driven decisions and maintaining a long-term orientation during times of turmoil. Those who already have a financial plan should take the time to re-evaluate its goals and strategies to ensure it can withstand a dramatic market decline. If you do not have a financial plan yet, take the initiative to start putting one toget...



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