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How to Potentially Survive & Thrive in a Recession Economic expansions never last forever. Eventually, they'll be followed by a recession. It's inevitable. And it's a natural part of the economic cycle. While we never know when the next recession will hit—or how long it'll last—history shows that, on average, recessions don't typically last as long as booms. We also know that, no matter when they hit, recessions will stir up anxiety and fear. And that'll trigger panic and rash decisions, which can lead to big losses. So, resist the panic trap that can come with recessions. If you can keep a level head, and follow these six steps, you'll be empowered to weather any recession—and any personal financial hardships you may face outside of recessions.