In a recession, for most people keeping your job should be the number one priority. This may mean putting in a few extra hours, working a little harder, and improving your skill set. Those that stay employed during a recession generally weather the storm just fine. While the unemployment rate is still relatively low, it is very likely to go up.The most uncomfortable part of a Wall Street crash or economic recession is the lack of control most of us feel. It’s contrary to our human psychology. We want to drive the car, or at least be the passenger in the front seat giving directions. But in an economic downturn, we’re not even in the car. We have no say on which rest stations we are stopping at. In fact, much of the time if feels like we are riding in the trailer hitched to the back of the car. With the horses. Admitting that we’re not in control can be somewhat liberating. The essential thing to remember is that the economy and market move in cycles, and a steady, sensible approach will carry your portfolio through good times and bad—including Wall Street’s current winter of discontent.

