As the world braces for a possible recession in 2023, many investors are wondering where to turn to secure their wealth. According to David Bailin, Chief Investment Officer at Citigroup Inc Global Wealth, real estate may be the key to weathering the storm.
In a recent interview for Knight Frank’s 2023 Wealth Report, Bailin outlined his predictions for the year ahead. He believes 2023 will present many investment opportunities if we get a mild recession and that active cash management will increase portfolio wealth.
Bailin’s insights are particularly noteworthy given the recent failures of Silicon Valley Bank and Signature Bank, which have stoked fears of an economic downturn. However, it remains to be seen whether a recession will actually occur.
As the threat of a possible economic downturn looms large, Americans are taking a cautious approach to their finances. A recent survey conducted by Morning Consult found that 41% of Americans have taken steps to prepare for the potential impact of a recession.
With all eyes on the Federal Reserve, the decision to continue raising interest rates or to pause on its inflation-fighting strategy has significant implications for investors. As the future remains uncertain, it’s clear that those who are prepared and strategic in their investments will be best positioned to weather any economic storms that may arise.
For those seeking to invest wisely, Bailin’s advice to focus on real estate may be particularly valuable. As an alternative investment, the wealthy have long favored real estate for its ability to serve as an effective hedge against inflation and offer diversification benefits.
But real estate investing isn’t just for the wealthy anymore. New companies have innovated ways for individual investors to gain property market exposure — for as little as $100. Here’s how to get started investing in real estate to earn passive income and build long-term wealth.
Whether or not a recession comes to pass, it’s clear that investors who take a long-term view and remain agile in their investments will be best positioned to grow their wealth over time.
Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article If We Get A Recession In 2023, Here’s Where To Invest: David Bailin originally appeared on Benzinga.com
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.