Ronald Reagan once said, “A Recession is when your neighbor loses his job. A Depression is when you lose yours.” Are we headed for a recession? The answer is always “yes,” but no one knows when it’ll come or how deep it will be. Rob talks about how you can prepare with financial coach John Putnam. This is Faith and Finance Live - biblical wisdom for your financial journey.
John Putnam is a Certified Financial Planner, a Certified Kingdom Advisor, author of He Spends, She Spends and founder of <a href="https://smarterstewardship.com/">Smarter Stewardship</a>, a marketplace ministry offering resources, podcasts and content. 
<ul><li>A survey of economists by Bankrate found that nearly two-thirds of them believe the U.S. will go into a recession in 2023. And the Fed’s rapid increase in interest rates is probably driving that. What are our chances for recession this year?</li><li>Is there a biblical perspective on recession?</li><li>How should Christians view a recession?</li><li>We all have financial goals. Do those need to change when we’re in a recession?</li><li>We should always prepare for a recession, but is there a point where that goes too far - when preparation becomes hoarding - or maybe shows a lack of faith?</li><li>What financial steps should we take to prepare for a recession, and how do they conform to Scripture?<ul><li>Decrease your expenses and increase your income.</li><li>Think about where you can immediately reduce your spending.</li></ul></li><li>Job security is always a concern when recession strikes. What’s your advice for folks concerned about that?<ul><li>Be aware of what's happening with your employer. Start putting feelers out if they are under economic pressure.</li></ul></li></ul>Next, Rob answers these questions at <a href="tel:8005257000">800-525-7000</a> or via email at <a href="mailto:askrob@faithfi.com?subject=Faith%20and%20Finance%20Listener%20Question&amp;%20Finance%20Listener%20Question">askrob@FaithFi.com</a> 
<ul><li>Do you have to download the FaithFi app in order to get a list of faith-based funds?</li><li>Is there a faith-based hedge fund?</li><li>Will housing prices go down if there is a recession?</li><li>Is a quit-claim deed the best way to get your name off a property and mortgage you co-own with your sister and brother-in-law because you co-signed with them a few years ago and they can now pay off what they borrowed from you?</li><li>What are the advantages of setting up a trust over having a will for your retirement accounts, which already have beneficiaries?</li><li>If you're self employed can you contribute more that $7000 a year to an individual 401k?</li><li>How do you contact Certified Kingdom Advisor? (Rob referred the caller to <a href="https://www.faithfi.com/find">Find a CKA</a> at faithfi.com). </li><li>What should you do with $245,000 you received from a divorce settlement and you own your condo but have no retirement assets?</li></ul>&lt; -- Market Analysis with Bob Doll of <a href="https://www.crossmarkglobal.com/">Crossmarkglobal.com</a> -- &gt; 
<ul><li>The Fed is beginning to see the light at the end of the tunnel and the markets are saying interest rates may decline. However, the strong labor market confuses the situation</li><li>So far this year, the market has been bullish until the last few trading days.</li><li>Credit card delinquency rates are going up, causing some concern.</li><li>If we're going to have a recession the market will have further pain, because company earnings will be under pressure.</li></ul>Be sure to check out the rest of <a href="https://www.faithfi.com/">FaithFi.com</a> to access our books and our many free helpful resources. You can also find us on <a href="https://www.facebook.com/faithfiofficial">Facebook Faith and Finance (Live)</a> and join the conversation. Thanks for your prayerful and financial support that helps keep Faith and Finance (Live) on the air. And if you'd like to help, just click the <a href="https://moneywise.netviewshop.com/nov22web">Give</a> button.

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Ronald Reagan once said, “A Recession is when your neighbor loses his job. A Depression is when you lose yours.” ﻿Are we headed for a recession? The answer is always “yes,” but no one knows when it’ll come or how deep it will be.

Recession Readiness With John Putnam

FaithFi | Feb 6, 2023

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Where Faith Meets Finance

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