As the Financial Planning intern at Traditions Wealth Advisors, Kyler’s role is to support the development of the key systems and processes that TWA uses to operate efficiently and provide the optimal client experience. Along with Sarah and Brien, he conducts research, analysis, and review of the clients’ financial plans to assist them in achieving their life goals. Kyler’s main areas of interest within the Financial Planning process are portfolio management, retirement planning, and risk management.
Kyler is entering his final year here at Texas A&M and will graduate in May of 2021 with his Bachelor’s degree in Agricultural Economics and a minor in Financial Planning. Upon graduation, Kyler will be studying in preparation for the CFP exam, as well as finding a reputable employer to launch his career with.
On top of working for Traditions Wealth Advisors, Kyler is an active member of the Financial Planning Student Association and is a Financial Planning Ambassador. He has also been a member of the Club Basketball team for the last three years where he served as president last year. In his own time, Kyler enjoys reading books, establishing relationships, and playing basketball with friends.
The US Economy has been officially deemed in a recession due the pandemic-induced downturn. There are so many unknowns, not just with medical concerns with COVID-19, but also with your personal finances. How long until you find another job? Will your employer lay-off more workers? How long will this recession last? Here are some tips to recession-proof your finances to prepare for the days, weeks, and months ahead.
1. Increase your emergency savings
Job security has become very uncertain during the pandemic months. Boosting your emergency savings is more important than ever so that you can pay for your necessities in the event an emergency arises.
2. Live within your means
Make sure you have a monthly budget and you are not overspending. Groceries are a necessity but eating out is a luxury and limiting luxuries is a way to live within your means.
3. Plan for the long haul
The markets will continue to increase and decrease weekly. Do NOT adjust your long-term goals even when the near future is uncertain.
While it is hard to predict the future, especially that a pandemic was going to cause a recession, it is good to always be prepared for whatever the future might hold. For more tips or help planning how you will manage the recession, contact us Brien@traditionswealthadvisors.com or 979-694-9100.
Source: Foster, Sarah. “7 Steps to Recession-Proof Your Finances.” Bankrate, Smart Money, 8 June 2020, https://www.bankrate.com/personal-finance/smart-money/ways-to-recession-proof-your-finances/