How to Prepare for the Biggest Economic Challenges of the Future

How to Prepare for the Biggest Economic Challenges of the Future To prepare for the many big economic problems that could arise in the next few years, you must plan, be flexible, and make wise decisions. Think about these things to get ready for these and other significant problems: 1. Inflation and interest rates are hard to predict • Problem: Changes in monetary policy, problems in the supply chain, and geopolitical tensions could make inflation hard to predict. If central banks raise interest rates, it could change the costs of both investing and borrowing. • To prepare for inflation, do the following: Spread your money out among assets that do well in times of inflation, such as commodities, real estate, and stocks that are safe from inflation. Put some cash away in case your costs start to rise. Get rid of high-interest loans to protect yourself from rate hikes. 2. Possible recessions and economic downturns Problem: The world's economies could slow down beca...