A new survey says many Americans are not prepared for a recession.
According to a new survey by bankrate.com, 40 percent of Americans are not ready for an economic downtown if it were to happen in the next six to 12 months.
Nearly a quarter of the respondents said they were not very prepared, while 16 percent said they were not prepared at all.
“This is where a lot of Americans need to learn to flex their financial muscles,” says Megan Gorman, founding partner of Chequers Financial Management, a San Francisco-based financial planning firm. “Most Americans are reactive to their money, and they are not proactive. You should always be preparing for downside risk.”
This content is brought to you by the FingerLakes1.com Team. Support our mission by visiting www.patreon.com/fl1 or learn how you send us your local content here.