Preparing for the Next Recession: Six Considerations for Retirees

Being more disciplined and risk averse in the good times can make it easier to weather the bad times when they inevitably arrive.

A hiker on a mountain checks out storm clouds on the horizon.
(Image credit: Getty Images)

Just like spring and summer always lead to fall and winter, we know winter is coming and another recession is on the horizon, we just don’t know when. If you have a leak in your roof, when's the best time to fix that leak? Before it rains, because once the rain comes, it's too late.

We've seen this movie before — sky-high real estate prices coupled with sky-high stock market prices — and we have our own ideas on how it’s going to end. Some retirees may be concerned about going through another 2008-type of crash again at this age now that time is no longer on their side. I'm 48 years old, so I have 20 more years before I even need my money. However, my retired clients are living off their money today.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Craig Kirsner, Investment Adviser Representative
President, Stuart Estate Planning Wealth Advisors

Craig Kirsner, MBA, is a nationally recognized author, speaker and retirement planner, whom you may have seen on Kiplinger,,, AT&T, Yahoo Finance, MSN Money, CBS, ABC, NBC, FOX, and many other places. He is an Investment Adviser Representative who has passed the Series 63 and 65 securities exams and has been a licensed insurance agent for 25 years.