Jaspreet Singh Heeds Chase CEOs Warning About Recession — 3 Ways He Says To Prepare
Written by
Dawn Allcot
Edited by
Travis Woods
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JPMorgan Chase CEO Jamie Dimon has been predicting a U.S. recession for nearly two years. Dimon reiterated those fears on Tuesday, March 12, 2024, at the Australian Financial Review Business Summit in Sydney, Australia. The billionaire said the possibility of a recession is not off the table and urged the U.S. Federal Reserve to hold off on interest rate cuts.
In a “Minority Mindset” video on YouTube, Jaspreet Singh agreed that a number of factors could point to a recession in the coming months. Right now, the economy is bolstered by government spending, Singh and Dimon agreed.
But a recession doesn’t have to spell doom if you are prepared. Singh emphasized in his video, “What you should be doing is understanding. Not worrying, not panicking, but understanding how you can be financially educated and financially prepared.”
Singh offered three tips to put yourself financially ahead of most people if a recession occurs in 2024.
Focus on Financial Education
An outspoken advocate of financial education, Singh said it’s more important than ever now to learn about different ways you can invest your money. “This is the time you want to make sure you’re investing in your financial education,” he said.
Set Cash Aside
In the event of a recession, job loss, or cutbacks, you’ll want to have an emergency fund to help you weather the storm. “Preparing means putting cash aside,” Singh told viewers.
Be Ready to Capitalize on Opportunities
Finally, with a solid financial education and some money in the bank, you’ll be prepared to capitalize on opportunities that could stem from a bearish stock market, lower interest rates, or reduced prices for commercial or residential real estate.
“If you see a market opportunity, if you see a stock market crash, if you see a real estate investment opportunity, if you see a business opportunity, the only way you can capitalize on it is if you have some money … and the financial education,” Singh said.
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