The recent plunge in equities value was like a shot across the financial bow for many stock market investors—a warning that darker economic storm clouds are gathering.
Many investors now question whether to “buy the dip” or pull out of the market amidst the turbulence.
But for the average American, staying financially afloat boils down to having essential financial planning and survival skills.
“The time to get your finances in order is always as soon as possible before an actual emergency,” says John Ramey, founder of ThePrepared.com, an emergency preparedness website.
The New York Stock Exchange operates during normal business hours in the Financial District in the Manhattan on Oct. 13, 2021, (John Minchillo/AP Photo/File)
“It’s similar to the people scrambling to buy toilet paper at the start of COVID—the prepared people were at home, already stocked, avoiding the contaminated crowds,” Ramey told The Epoch Times….