How Does a Recession Affect Me?
Key takeaways
- The Fed thinks the U.S. economy might squeak past a recession, but it’s still not off the table
- Recessions often lead to three main issues for the average consumer: job losses, wage stagnation and spending cutbacks
- AI investing can boost your income and build wealth
The Fed chair Jerome Powell might be talking about the U.S. economy avoiding a recession, but it’s far from a done deal. With mass layoffs continuing and uncertainty in the air, it can be hard to know what to expect.
We’ve got the lowdown on how exactly a recession hits your pocket and what you can do to fight back against the dreaded “R” word. Keep reading.
Worried about inflation eating into your returns? Q.ai’s Inflation Protection Kit is a great option for those looking for investments that beat high inflation. An AI algorithm finds the outperforming assets and shifts the Kit’s holdings as needed, helping you stay one step ahead.
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Three ways a recession can hit your finances
The most obvious way a recession can affect consumer finances is through job losses. We’ve sadly seen the tech sector make scores of mass layoffs, with the banking sector joining in after March’s banking crisis.
The latest ADP jobs report found wage growth slowed for the third consecutive month, hitting 6.7% in April as opposed to 6.9% in March and 7.2% in February. In short, there’s less chance of getting that pay raise or bonus as companies turn to efficiency-saving measures.
Not to mention the economic uncertainty and high inflation pushing up prices. This can lead to households deciding to cut back on spending to have more of a financial cushion, should the worst happen, like redundancy.
How to recession-proof yourself
AI investing is a pretty neat way of opening up a new income stream without much hassle. At Q.ai, we provide pre-made investing Kits powered by an AI algorithm so you don’t have to do the heavy lifting.
It works by the AI trawling through different data streams (even social media and the news) to find which assets are performing well. Then, it weights the holdings and shifts your investments around as needed. All without upfront work from you to help grow wealth.
AI is here, so why not take advantage of the trend and help yourself build a nest egg to weather a financial crisis at the same time?
The bottom line
A recession is never good news, and it can hit households in different ways. But knowledge is power. Everyone is talking about a recession now, so there’s no harm in protecting yourself for the future by cutting back, saving up and trying out AI investing to help you build a new income avenue.
Q.ai is ready with the goods to help you survive a recession. The Recession Resistance Kit is tailor-made to target companies with solid returns through all market cycles. The secret? An AI algorithm that scans the data so you don’t have to, helping you line your pockets without the upfront work.
Download Q.ai today for access to AI-powered investment strategies.
