High inflation, rising oil prices, and a falling stock market. These problems have all been affected over the last few months, and they don’t seem to be going away soon.
The team at Personal Capital surveyed over 1,000 Americans to determine just how prepared they are for a recession and what investments they plan to make.
Searches For “Recession” Soar 254% In Last Year – 3 In 4 Americans Fear It’s Near
Many Americans are scared that a recession could be right around the corner. Fears are continuing to grow as the financial climate remains unstable. Over 2 in 5 fear that they may lose their jobs or be unable to provide for their family if a recession occurs.
Q2 2022 hedge fund letters, conferences and more
Despite the uncertainty that lies ahead, individuals are preparing for a potential recession. 56% are educating themselves on recessions through YouTube, and 78% who worked with a financial advisor said they feel more secure!
"Survive Recession" Up 460% In Last Year - Here's The Top Tips For From Previous Recession Survivors Themselves
With so many fearing a recession, people are turning to their elders and relatives for tips on how to best prepare.
Increasing savings and learning to budget are the most significant pieces of recession advice Baby Boomers and Gen Xers give the younger generations. While Millennials and Gen Zers are taking these tips to heart, they also prioritize maintaining a stable job. (Honestly, who could blame them for that?)
About Personal Capital
Personal Capital is a digital wealth management company that helps people transform their lives through technology and personalized advice.
