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

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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.

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