I am not predicting a recession. I am watching the signals, though, and I want the families who usually get hit first and hardest to be ready this time. My message on this episode is four words: don’t panic. Prepare, position and prosper.

I’ve lived through a few of these. In 2008 I held on to a townhouse in Los Angeles when friends told me to sell, and years later it sold for more than three times what I paid. I have also made the opposite mistake and sold out of fear, and I share that story too, because a decision made in panic is almost always a bad one.

I walk through the cycle every economy moves through, from expansion to contraction and back again, and I give you a practical checklist for your household. Protect your income. Build cash. Bring your credit utilization down. Get rid of the debt that isn’t serving you. And get to know your banker before you need one.

A recession is a reset, not the end of the story. Don’t let fear make permanent decisions for you in temporary circumstances, and share this one with someone who needs it this season.

🎧 Listen now — wherever you get your podcasts, or simply click below.

Prefer to watch? The full episode is on YouTube.