Comment by junto

I’ve been through several recessions.

Painfully I’ve learnt that you want to work in an industry that is largely recession proof.

Focus on industries that sell things that people need and will try to keep buying right down to their last buck.

Food, utilities, insurance. People don’t like sitting in the dark. People need water. People need to eat. People really don’t like living without insurance cover or to let cover lapse.

They don’t need Netflix, Disney+ or Prime. They don’t need Spotify. They don’t need training or e-learning. They don’t need luxury goods. They don’t need new motor vehicles. They don’t need holidays. They don’t need new iPhones or new computers.

Try and move now to an industry that has some security.

Investment wise diversification is key. Just pray that it doesn’t get so bad that banks start to fail.