How to Avoid Financial Panic When a Recession Threatens

More Americans are worried about a recession with record inflation and a downturn in the stock market. If you’re among them, here are a few steps you can take that could help you sleep better at night.

A woman presses her palms together in the namaste yoga pose.
(Image credit: Getty Images)

It’s OK to worry about a potential recession. The unknown is scary. But, don’t let those emotions lead you into financial panic.

You are not the only one feeling anxious – more Americans are worried about a looming recession than in years. Two-thirds of Americans (66%) say they are expecting a major recession right around the corner, according to the 2022 Q2 Quarterly Market Perceptions Study* from Allianz Life Insurance Company of North America. At this time last year, fewer than half (48%) expressed concern about a recession.

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Allianz Life Insurance Company of North America does not provide financial planning services.


Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America (Allianz). Variable annuity guarantees do not apply to the performance of the variable subaccounts, which will fluctuate with market conditions.


Products are issued by Allianz Life Insurance Company of North America (Allianz) and distributed by its affiliate, Allianz Life Financial Services, LLC, member FINRA, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. 800.542.5427


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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Kelly LaVigne, J.D.
Vice President, Advanced Markets, Allianz Life

Kelly LaVigne is vice president of advanced markets for Allianz Life Insurance Co., where he is responsible for the development of programs that assist financial professionals in serving clients with retirement, estate planning and tax-related strategies.