I got this pro-active email in my inbox today. So wanted to share with you guys. What to do and what not to do at the time when world is heading towards Recession.
1. Don’t take any loans; buy homes, properties with loans, or even cash. Keep as much cash as possible.
2. Pay off as much of personal loans, private loans, as debt collection will be hastened.
3. Sell any stocks you can even at lower prices.
4. Take money off from Trust Funds.
5. Don’t believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.
6. Don’t invest in new capital.
7. If you are selling homes/ properties/ cars, do it now, when you can get good prices, they are going to fall.
8. Don’t invest in new business proposals.
9. Cancel holiday plans using credit cards.
10. Don’t change jobs, as companies will retrench based on ‘LAST IN FIRST OUT’.
Few sources claim this recession may last for 2 years or more .. I am worried 😛