Bonus Episode: How to Build a Recession-Ready BudgetCore Theme

[00:00:00] Speaker A: With news headlines about recessions flipping from imminent to unlikely almost weekly, a lot of individuals are left wondering, how do I prepare my money for whatever 2026 throws at us? I'm Jim Tarabok here for the Retirement Radio Network powered by Amerilife. Recession talk is back for 2026, not screaming from every headline but lingering in the background with odds that aren't zero. And honestly, that's okay. The good news? You don't need a crystal ball. You just need to be prepared. HerMoney.com CEO Gene Chatsky outlines the signs to watch for when a recession is looming. [00:00:34] Speaker B: Keep an eye on unemployment. We'll look at consumer spending. Consumers often lose confidence. The tricky part about a recession is that we could be in one already and not know it. [00:00:45] Speaker A: Financial experts say the first step to being prepared is surprisingly simple. Get clear on what you actually need out what fear is telling you. Start by building or topping off an emergency fund that covers three to six months of living expenses. Perhaps consider a high yield savings or money market account so your safety net is actually growing. Next, pick a budgeting system you'll stick with, whether that's the old school envelope method, a spreadsheet or even an app. And finally, how to configure your financial portfolio and investment strategy in uncertain times. CNN senior business writer Gene Shahadi explains a key component you want to be. [00:01:22] Speaker B: Really diversified in your portfolio. Mean between stocks and bonds, between sectors of the economy. You can't predict what's going to do well and what's not going to do well. A diversified portfolio where you have some stocks, some bonds, they will perform differently. [00:01:34] Speaker A: Whether it's covering the basics, making easy cuts, redirecting that money to high interest debt. The people who come through economic uncertainty best aren't the ones who panic, they're the ones who plan calmly, live a little bit below their means and keep investing anyway. A well built budget doesn't just protect you from a recession, it gives you freedom no matter what the economy might do. Small steps now, big peace of mind later for the retirement radio network powered by Amerilife, I'm Jim Tarabokia.