“In a recession, it’s not about finding the one perfect investment. It’s about building a mix that lets you sleep at night, stay invested and be ready when things turn around,” says Dan Pascone, founder and CEO of Tailored Wealth in Fairfield, Connecticut.

“A blend of dividend stocks, Treasurys, quality bonds, some defensive exposure, a little TIPS and a reasonable cash cushion will do a lot more for long-term wealth than trying to perfectly time the next downturn,” he adds.