Buying Assets During a Recession

[Kane]

If you listen to finance gurus, you will hear that millionaires are created during recession. That’s because recession brings inflation and market downturn, therefore buying more and stop selling during a recession might be a good strategy. However, there are challenges. And one major challenge is, recession will have an adverse affect in your income and purchasing power. Therefore, normal people may not have the funds to buy more asset. Even though asset prices are low, it's challenging for regular individuals to build wealth in such economic conditions.

 

[Grant]

A lot of people make it rich doing this, but it's not easy. It's not always easy to find a asset that will be good for you. I'd say we're kind of in a recession now, and I can see a lot of companies and people trying to take advantage of that. I hope poorer people can take advantage of that too.