There are growing indications that the investment markets and the overall economy have reached short-term highs and that we might soon headed into a period of market correction and possibly even recession.
I am not interested in or attempting to ‘time the market’ not do I pretend to have any ability to make such a forecast. My only interest is to prepare my business and my clients for when this pattern does unfold. We know from experience that a declining market has widespread tangible and psychological effects. Every economic downturn takes a painful bite of our business and personal success plans. The key to success through the period of change is to recognize the risk and make deliberate strategic adjustments as a proactive instead of a reactive adjustment.
While we do not know when a market drop or recession will come, we know that these will come. After many years of economic growth, we know that a period of recession is the predictable next phase. We can not ignore that this current period of market expansion has been going longer and stronger than historic economic growth cycles.
There are precautions and strategic actions that people, businesses and nonprofit entities can take now to prepare a declining market or period of economic recession. I would be pleased to discuss the issues that may have the greatest impact in your situation.