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Why I’m not scared of a recession

by WOOWinvest
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Why I’m not scared of a recession

For the past six years, since he retired at 35, Steve Adcock has been bracing for the possibility of a recession.

As the stock market slides and a potential recession looms, Adcock’s careful preparation is paying off. Although he and his also retired wife, Courtney, make money almost entirely from the growth of their investments, they have been able to weather the current market turmoil without making any major changes to their spending or portfolio. That’s thanks in part to their strategy of always keeping expenses in savings accounts for two years.

Adcock, 40, said it could also be due to the couple’s minimalist lifestyle. They live off the grid in the Arizona desert. Their home is powered by solar panels, and they draw water from wells installed on their property. As such, their budgets consist mostly of discretionary spending.

“People think it’s crazy that we’re living such a low-key life during a bull market where everyone is making money. [They said] We were supposed to live big,” Adcock said. “But we didn’t. Now we hardly make any changes, everyone else is. “

The Adcock home is fully solar powered.

CNBC’s success

Adcocks have barely adjusted their spending since the market slumped from its December and January highs. They try to “eat less” and buy top bottles less often, but even runaway inflation hasn’t dampened their spending.

“If your expenses are low, you don’t feel inflation like everyone else. It’s that simple,” Adcock said. “You don’t suffer from the same level of inflation as people who spend far more than they need.”

If your expenses are low, you won’t experience inflation like everyone else. It’s that simple.

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