Recession Survival Guide Released by Dolans.com

FOR IMMEDIATE RELEASE

February 15, 2008

Recession Survival Guide Released by Dolans.com

Dolans.com offers serious "act now" advice for weathering the stormy times ahead.

WASHINGTON (December 18, 2007) – Don't be lulled into a wait-and-see attitude by pundits debating the finer points of recession, warn personal finance experts Ken and Daria Dolan. The majority of Americans polled now believe we're in our first recession since 2001.

The recession is already here and the time for action is now.

In their Recession Survival Guide at Dolans.com, the popular personal finance experts take a hard look at the Fed's recent panic rate cuts together with the severe housing downturn, reduced consumer spending, questionable employment numbers, rising oil prices, and stock market jitters worldwide. Their conclusion is inescapable: many parts of the country are already neckdeep in a recession and there will be a recognized national recession within the next year.

"We're in for a rocky ride and the latest Fed rate slashes aren't going to prevent it," says Daria Dolan. "In fact, the Fed's aggressive actions may be setting us on course for the worst recession in decades. So it's important for everyone to take action now, to protect their financial well-being no matter what happens in the months and even years ahead."

Their recommendations include:

  • Get out of debt as quickly as possible, and don't add to debt.
  • Don't fall prey to the Wall Street mantra of "buy on weakness;" instead, start to build up your cash and municipal bonds, and consider a small investment in gold.
  • Take advantage of falling mortgage rates and refinance with a fixedrate loan if you are sitting with an Adjustable Rate Mortgage. Build a cash reserve covering six months of expenses, and maximize this reserve in money market mutual funds.
  • Check out the stocks your mutual fund owns and get out of those funds with significant holdings in home construction, the financial sector, car manufacturers and large appliance makers.
  • Spruce up your job skills to recession proof your job.
  • Adds Ken Dolan, "We've been through this before. It's no time to lose your head, but it's no time to lose your shirt either. Our continuing reports give Dolans.com members the truth about the economy, without the sugar-coating they get from Wall Street and Washington. It may not be pretty, but we will help them get through this developing recession without a scratch."

    Further, Ken adds, "The recently signed economic stimulus package, including millions of rebate checks, is a band-aid for an economy that needs major surgery."

    Read the Dolans' new Recession Survival Guide at http://dolans.com/invest_wisely/recession_survival_guide.html.

    Listen to the audio report, The Recession is Here: What to Do Now at http://www.dolans.com/audio/are_we_headed_for_a_recession.html.

    Other reports spotlighting recession news and strategies can be found at the Dolans' homepage: http://www.dolans.com.

    About Dolans.com: Launched in October 2007 by nationally syndicated radio hosts Ken and Daria Dolan and InvestorPlace Media, www.dolans.com offers expert practical advice on every personal finance matter imaginable. The Dolans bring a combined 40 years of proven expertise to the internet, and are known and trusted by millions of people thanks to their award-winning 20-year radio career. The Dolans have also hosted their own CNN television show and authored five personal finance books.

    Contact: Dave Gilbert
    dgilbert@phillips.com
    301.279.4201 ext. 2090

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