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With a flat economy, it's still possible to bring in an income

The economic recovery was a relief to many people in America. It meant there were more jobs and better home prices. Their properties began to improve in value, helping many sell for more than their mortgages, so they could move on to new ventures.

There is a concern that the economic recovery is beginning to slow, though. An Oct. 21 report describes record-low unemployment in Minnesota along with decent wage increases. However, that doesn't mean the economy is still booming. Some people are worried that there could be another economic crash.

Why do people worry that the economy is tiring?

The main concern is the flat nature of the stock market this year. Between March 2009 and 2017, there was a 250-percent run on the S&P 500. There is uncertainty about tariffs, trade and interest rates, all of which have caused the stock market to spike and drop repeatedly.

What can you do to avoid financial struggles in an economic downturn?

One thing to do is to invest across dividend-paying stocks and to invest long-term. Real estate, for instance, can be a good purchase, especially if you plan to rent. People always need a place to live, so that's an income you can more or less rely on.

Minnesota took a hit during the last economic downturn, but it did survive. Be cautious with the real-estate transactions you choose, and you may find yourself in a better position if the economy once again struggles. Choose properties that bring in an income, and don't buy when prices are high, since the risk is, too.

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