This episode questions whether you can fully "recession-proof" yourself. While total protection is unrealistic, steps can help safeguard income and career stability. A recession is usually defined as two consecutive quarters of economic decline, but with mixed indicators, awareness is more important than panic.
Camille suggests proactive financial planning, like building an emergency fund, cutting expenses, and seeking financial advice. Instead of reacting to fear-driven headlines, she encourages small, practical steps to strengthen finances.
This may be a good time to invest in the stock market as prices fluctuate. While she recommends professional guidance, stocks or mutual funds may be more affordable now, making investments more accessible.
Beyond investing, Camille suggests diversifying income. Rather than relying solely on a job, explore freelance work, a side business, or contract work. Balancing employment with independent work creates flexibility, helping you pivot as needed.
One of the best ways to recession-proof is skill-building. Enhancing skills, particularly in AI or digital tools, boosts employability and future-proofs careers. Diversifying experience by exploring adjacent roles creates new opportunities. A strong professional network, especially on LinkedIn, can open doors to jobs and clients. Strong job performance is key, as positive reviews and recommendations are valuable.
Lastly, developing a personal brand builds credibility and visibility, positioning you for long-term success.
Key Takeaways:
- Consider Market Opportunities – Stocks and mutual funds may be available at lower prices, but it is recommended to consider seeking professional financial advice.
- Diversify Income Sources – Freelance work or side businesses can help to provide stability alongside current employment.
- Enhance Skills & Adapt – Learning new, in-demand skills such as AI and digital tools, can help increase job security and earning potential.
- Expand Professional Networks – Connecting with professionals within your industry can help lead to new opportunities.
- Maintain Strong Performance & Branding – Consistently delivering quality work and building a personal brand can help in providing career security.
Click here to get the full show notes:
Tips to Protect Your Career and Income During a Recession
Host Camille Attell is a remote work strategist, career coach, and the host of The Remote Work Retirement Show. After leaving a 20-year corporate career, she transitioned to a flexible, location-independent lifestyle and has since helped thousands of professionals do the same. Through her Remote Work School program, Camille empowers mid-career professionals and retirees to find meaningful remote work opportunities, build financial security, and design a work-life on their own terms.
Take her FREE remote work training:
www.camilleattell.com/remote-training
Learn how to leverage your digital products or service:
www.camilleattell.com/remoteworkschool
Click below to connect with Camille online:
Read more about the RV and Remote Work Lifestyle at https://www.morethanawheelin.com/
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