1. Increase your liquid savings
When referring to the next financial crisis, the best thing you can do is to save, save, SAVE! Liquid savings will most definitely help you in a difficult period, because they don’t fluctuate such as market stocks or index funds. However, remember that a retirement account has a tax penalty when you withdraw money too early.
So, it’s best to steer clear of your IRA for a while. Try to save as much as you can, and take into consideration that you should save for at least six months’ worth of expenses in liquid savings if you want to be financially prepared in the future.
