How (and When) to Save During an Economic Downturn
In this video, Entrepreneur Network partner Phil Town discusses how to invest during a recession.
By Phil Town •
Opinions expressed by Entrepreneur contributors are their own.
If you can purchase companies at affordable, recession-level prices, you can easily get rich, says Entrepreneur Network partner Phil Town. Town talks about recession-proofing your savings by looking for bargain prices.
Even investing maestro Warren Buffett says to treat the market's fluctuations as friends and to profit with the market follies, rather than participate in them. Of course, that's easier said than done ... but it can be done.
401ks work great when your employer matches your contributions. But don't be fooled: even with their diversified features, if the market tanks, your 401k will also suffer, as well.
According to Town, a recession is a great time to start saving. Even if you're investing less in the beginning, any time you can save money during this economic period, you are making a smart decision.
Click the video to hear more.
Related: How to Approach Your Finances If You Want to Retire Stress-Free
Entrepreneur Network is a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.
EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on Roku, Apple TV and the Entrepreneur App available on iOS and Android devices.
