Retirement Answer Man

So, we’re not in a recession yet, but these are definitely challenging times. Now is a great time to learn how to navigate a recession in retirement. A recession is a temporary economic decline with a fall in the gross domestic product over successive quarters. Although we technically aren’t in a recession right now, we can stay agile by preparing ourselves for what is to come. Join me today to learn how you can navigate a recession in retirement. You’ll learn 6 areas in which you can play offense or defense to help you be prepared for what may lie ahead. 

6 areas of defense or offense to prepare yourself for a recession in retirement

  1. Maintain a mental edge - What do you do to stay mentally agile? Self-care is so important during challenging times. Exercise and journaling are 2 great ways to practice self-care. Find a healthy way to vent if you need to let off steam. It’s also important to limit the news you watch and avoid the bait of commercials and sales pitches. Be careful with those sales pitches, everyone is trying to take advantage of the situation to make a buck. 
  2. Evaluate what is important to you - Right now we are experiencing unprecedented times where we have an opportunity to really think about what is important to us. So give it some thought. What are your life goals? What is important to your life? 
  3. Consider your cash flow - Another opportunity presents itself to stress test your retirement plan. Review your liquidity. Do you have enough laid out in cash reserves? Take this time to evaluate the sustainability of your retirement plan. Build a cash floor, moderate your wants and wishes
  4. Look for opportunities - Since interest rates are at an all-time low, consider refinancing your mortgage. Now is also a great time to find flexible travel deals look for travel deals. 
  5. Examine your portfolio - This is a good time to simplify your investments in a tax-efficient way. Examine your asset allocation. Is your portfolio doing what you expected? You don’t need to take action right now if you want to change, just make a note of it for better times. Examine your risk tolerance. We’re used to riding risk while accumulating assets, not while we’re in the decumulation stage of life. You also have an opportunity to do some tax planning this year. You may be able to take advantage of tax loss harvesting. Also consider whether it makes sense to do some Roth conversions. 
  6. Help the family - Now is a great time to gift shares of stock or cash. Many people are experiencing challenging times with job losses. Remember you can gift $15,000 per person. You could also consider making an interfamily loan to someone who just needs help weathering this storm. These loans have no requirements other than you must charge a minimum applicable interest rate which is low right now. 

How will you stay agile?

You may never be 100% prepared for a recession in retirement, but you can be agile. Think about the ways you can maneuver and look for opportunities. Although it is important to consider how to defend your assets it’s also important to stay on your toes and be proactive. So what will you do to stay agile in the coming weeks and months?



  • [2:00] What is a recession?


  • [3:22] 6 areas to help you navigate a recession 


  • [24:30] Where should you invest a chunk of money?
  • [28:40] Evaluate the things you own
  • [31:55] How to best utilize tax brackets
  • [34:33] No one knows how to file for unemployment as a contract worker


  • [38:00] Do something to manage your stress and anxiety

Resources Mentioned In This Episode

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

Work with Roger

Roger’s Retirement Learning Center

Direct download: RAM321.mp3
Category:general -- posted at: 6:00am CDT