3 lessons I learned during the last recession that are relevant now - Business Insider

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, but our reporting and recommendations are always independent and objective.

From that experience, I learned not to look at the stock market and leave my retirement savings alone, and I changed up my career path to including freelance gigs to keep my income steady in times of uncertainty.Because of the coronavirus pandemic, we may be headed into another economic recession. During the last major recession, I lost almost everything, and it forced me to change how I handle my personal finances.

When the market bounced back, I looked at the big picture of my 401 and Roth IRA. The purpose of both accounts was to fund my retirement, which at the time was more than 40 years away. After doing some research, I set up both accounts for aggressive investments early and more conservative investments as I got closer to retirement.

Because of the market crash, we were approved for a short sale, meaning the bank agreed to sell our property for less than what was owed on the mortgage.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coronavirus: Crime rates in NYC and LA drop as more people stay inside - Business InsiderThe number of serious felonies and arrests has reportedly gone down in NYC and LA as city streets empty out and more people stay inside.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Lamborghini recalls Aventador SVJ because owners can get stuck inside - Business InsiderAn improperly installed door mechanism means that some Lamborghini owners could get trapped inside their cars. What better thing to be stuck and quarantined in than a Lamborghini Aventador during these time. The wealthy are creative with ways to self quarantine. Why aren’t more in the media covering this!!?!?!!! Ugh I really don't want to deal with shipping for this thing, I'm going to keep mine and chance it /s
Source: BusinessInsider - 🏆 729. / 51 Read more »

Michaels keeps stores open, and CEO memo explains why - Business Insider'I am asked on a daily basis by customers why we are still open,' a Michaels manager speaking on the condition of anonymity told Business Insider. The virus makers? They must be teetering on bankruptcy already
Source: BusinessInsider - 🏆 729. / 51 Read more »

How a key architect of Lean Startup uses his own lessons to scale up - Business InsiderHere's how a key architect of the Lean Startup model is using his own philosophy and experience to scale his own company that trains innovators for the worlds biggest firms like Microsoft, 3M, and GE. Presented by Cisco Cisco strategyzer featured
Source: BusinessInsider - 🏆 729. / 51 Read more »