How to Prepare for a Recession

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Here are highlights:

1. GDP (gross domestic product) lasting two consecutive quarters or longer
2.  On a technical basis, the economy returned to growth in the second half of 2009, and the unemployment rate peaked four months later.
3. Unemployment would remain at or above 9% for two more years and didn't return to the prerecession rate of 5% or below September of 2015. That's six years of high unemployment.
4. Item 3, more explanation: even though the recession was technically over, a slow jobs recovery meant millions of Americans continued to struggle mightily.
5. Unfortunately, one of the biggest mistakes people make during a recession is to sell their stocks or stock-based mutual funds, often after the market has already fallen sharply, expecting it to fall even more. Sadly, this rarely results in savvy "buying at the bottom" for most people. More often, the stock market starts to recover before people are ready to reinvest, resulting in them missing out on the market's recovery.
6. Owning bonds is a great way to hedge your risk from that volatility for the part of your portfolio you may need to sell in the next few years.