57: What Women Need to Know if there's a Recession

Recession.   We've seen the headlines, in all their dramatic glory.   Today's episode isn't about defining "recession" and all its complexities (a topic on which no one ever seems to agree!). Instead, it's about the reality that recessions are simply a part of the economic cycle and, more importantly, that it's something everyone has to deal with when it does come.   We have no control over the economy, and that's okay. What we can—and must—control is our economy. Stephanie and Kevin share how we can do just that, from dealing with scary stock market fluctuations, to having a Plan B in case you lose your job (or your spouse loses theirs), to creating more financial flexibility and tapping into your assets, and more!   Key Topics: "What the heck is a 'recession'?" (1:50) The importance of having a long-term view of the stock market (5:34) Losing your job during a recession (10:21) Increasing your flexibility (12:49) Your Plan B (17:19) Health insurance (19:12) Tapping into your assets (20:53) Loans from retirement plans (27:04) Health savings accounts (28:59) Life insurance and social security benefits (30:04) Our closing thoughts (31:46)   Resources: Take Back Retirement Episode 20: Women + Roth IRA's – What Should You Be Aware Of? Take Back Retirement Episode 21: Simplifying Medicare: What's Important For You To Know with Susan Sloan Take Back Retirement Episode 29: How Much Cash Should I Have and Where Should I Be Putting It? Take Back Retirement Episode 42: What Women Need to Know When the Stock Market Goes Down Take Back Retirement Episode 55: Lessons from the Career of Janet Yellen with Jon Hilsenrath, Author       If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected]   You can find the transcript and more information about this episode at www.takebackretirement.com.   Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.  Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.