{"id":70669,"date":"2019-07-15T08:30:05","date_gmt":"2019-07-15T12:30:05","guid":{"rendered":"http:\/\/webapp2.wright.edu\/web1\/newsroom\/?p=70669"},"modified":"2019-10-25T10:31:27","modified_gmt":"2019-10-25T14:31:27","slug":"newsday-quotes-wright-state-business-professor-in-recession-prep-story","status":"publish","type":"post","link":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/2019\/07\/15\/newsday-quotes-wright-state-business-professor-in-recession-prep-story\/","title":{"rendered":"Newsday quotes Wright State business professor in recession prep story"},"content":{"rendered":"

Excerpt<\/strong><\/em><\/p>\n

\"\"There\u2019s perception and then there\u2019s reality. For many folks, the glass is already nearly half empty, while others feel it will be not too far in the future.<\/p>\n

In a new survey, “Experts vs. Everyday Americans,”\u00a0Bankrate.com says 40 percent\u00a0of the people polled say they feel the next recession has already begun or will begin within\u00a0the next 12 months. Meanwhile, the experts say\u00a0it will be at least a year before the downturn\u00a0begins.<\/p>\n

For sure, no one can know with any certainty when a recession might happen, but there are some trending thoughts. In a recent survey of economists, nearly half said they expected a recession in 2020, while 37 percent think it will come a year later, according to Brian Cohen, principal with Landmark Wealth Management in Melville.<\/p>\n

As for him and his firm, \u201cWe agree with the overall consensus,” on a looming recession. “It is almost a 50\/50 bet that it would take place within 12 months.\u201d<\/p>\n

So, what should you do if the conventional thinking is right and\u00a0a recession is likely in the next 12 to 24 months?<\/p>\n

Pay Down Debt<\/strong><\/p>\n

As the market turns south, having a lower monthly \u201cnut\u201d of payments to crack, such as car loans, student loans, credit card debt\u00a0and mortgage\u00a0will be crucial. \u201cAlso, depending on the severity of the recession, you may need access to credit going forward. So\u00a0pay down debt where you can,\u201d says John Dinsmore,\u00a0an associate professor at Raj Soin College of Business at Wright State University in Dayton, Ohio.<\/em><\/p>\n

Even under the best of circumstances, strive to have at least six\u00a0months\u2019 worth of living expenses socked away. If your income fluctuates because you are a commissioned\u00a0worker, self-employed or a freelancer, your savings should add up to\u00a0more like a year’s worth, says Cohen.<\/p>\n

View the entire post at newsday.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Excerpt There\u2019s perception and then there\u2019s reality. For many folks, the glass is already nearly half empty, while others feel it will be not too far in the future. In a new survey, “Experts vs. Everyday Americans,”\u00a0Bankrate.com says 40 percent\u00a0of … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":21,"featured_media":45702,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[748,730],"tags":[],"class_list":["post-70669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-wright-state-in-the-news"],"_links":{"self":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/70669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/comments?post=70669"}],"version-history":[{"count":1,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/70669\/revisions"}],"predecessor-version":[{"id":70673,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/70669\/revisions\/70673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media\/45702"}],"wp:attachment":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media?parent=70669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/categories?post=70669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/tags?post=70669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}