4) How do I keep myself recession-proof?

“Education,” says Professor Diamando Afxentiou, Ph.D. (above), of NYIT’s School of Management. “Educated people have the ability to transform themselves to perform the jobs of the future.”

Notes Afxentiou: “The U.S. economy is reinventing itself,” leading to opportunities in business and other sectors. “While the economy’s evolving, we need to evolve as well,” she says. “There are always going to be jobs available. The thing is for people to have the skills to do these jobs. You have to have the competency and capability to adapt to the new changes.”

A key part of preparing for changes, she adds, is staying informed so you can be aware of what new skills you might need to acquire to protect your job.

Professor William Lawrence, Ph.D., of NYIT’s School of Management offered what some might note is tried-and-true advice often ignored: Don’t accumulate debt beyond your asset base.

“You want to make sure your debt-to-income ratios are really in control,” he says. You can avoid economic difficulties if you’re balanced in how you’re living, not spending beyond your means, and building a savings account.

“Make sure you have human capital and skills so you’re marketable,” he 

adds. “You’ve got to be flexible. Be comfortable with accepting change and preparing yourself.”

Entrepreneurship offers another possible edge against economic downturns and uncertainty.

“Over the past 10 to 15 years, people have learned the corporate world is not the safe umbrella it always was,” Lawrence says. “You can have some freedom and security in owning your business because you’re not dependent on mergers, acquisitions, or downsizing.”

Like Afxentiou, Lawrence advises that people stay abreast of new developments in their fields.

“The most important thing is to learn how to learn, to know how to seek new information, to watch these trends,” he says.

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