This is an interesting column by Zoe Williams in The Guardian.
Something we have been discussing a lot recently at Informed Choice is a significant market correction seems long overdue.
Combined with rising personal debt levels and the threat of rising interest rates, things could prove challenging for a lot of people should we experience a global financial crisis comparable to or worse than the one experienced in 2008.
There are some simple steps you can take in preparation for any future financial crash.
Paying down unsecured debt and any debt subject to variable interest rates would be a good place to start.
From an investment perspective, regularly reviewing your portfolio to to ensure it is well diversified and resilient to market volatility is smart practice.
And keep in mind that cash is king when times get tough.
Whilst low interest rates and rising price inflation make keeping cash unattractive over longer terms, there's something very reassuring about having sufficient cash reserves to help cope with financial shocks and prevent having to draw on invested assets during market dips.
Nobody can accurately predict the timing or severity of the next financial crash. Various indicators suggest the conditions are ripe for one to take place.
Something you can control is taking steps to improve your own financial resilience today.
Yet financial recklessness would only be kerosene on an already-lit bonfire: the real threat of a recession is not from a few bad debtors bringing down a system that is unable to disaggregate them from all the other, decent debt.