The devastating economic impact of the COVID-19 pandemic has drawn comparisons with a previous U.S. economic calamity – The Great Recession of 2008.
That crisis, similar to the current one, included high unemployment, a plunging stock market, and government stimulus packages. While the population wonders how and when the U.S. economy will recover, there are some lessons learned from 2008 that can be applied now, says Steve Kruman, a financial planner and investment advisor at Bryce Wealth Management.
“There was a wide variety of strategies applied during the last recession, from infrastructure investments to re-regulating financial institutions and others,” Kruman says. “Some ...