Market corrections and recessions are a normal part of the investment and financial planning process. When these events happen, the fear of what the future will look like can be overwhelming.
It's important to remember that these types of events are part of the process and should be expected. It's also important to remember that these types of events can also provide opportunities for you to to both strengthen and analyze your financial plan, which is what this checklist is here to help you do.
This checklist covers many of the issues to consider during a recession or market correction.
It addresses some strategies particularly useful when the valuations of the markets are low (such as Roth conversions and gifting strategies), as well strategies to mitigate the negative impact.
This can help to pivot a focus away from one of fear of the future to one where you consider strategies to take advantage of lower valuations and volatility.
Use this checklist to look at your situation and how it can assist you to deal markets when we encounter these types of events.