Financial planners Steve and Zach Lind joined Sara Kirkley to discuss the challenges of predicting a recession and how to prepare for one:

"A recession is a two quarter, 6 months, of declining gross domestic production, in simple terms, the economy slows down. Here is why investors are concerned, your portfolio can drop 10%, 30% 50% and obviously this is a concern causing cash flow, spending issues. Some of the indicators are corporate profits, down 4.8% first quarter and projected to be down this quarter, inverted interest rates, long term bonds paying less than short term bonds, we saw this earlier this year, unemployment, sharply down in April, but up nicely this month, manufacturing orders, down in March and April, and energy prices which have been down to record lows but are starting of move up. This have been a very wild and unusual set of circumstance. Talk to your financial planner before you do anything," said Zach.

"This is more than interesting. This is the wildest movement I have ever seen. The markets are about back to where they were end of January 2020. We get request on what to do, when to get out and then back in. We have been suggesting staying the course, but some options are moving some/all to money markets, shifting some/all to bonds, but be aware of interest rate movements, moving to utilities, larger blue chip stocks, that may offer some downward protection, but no guarantees. This is a challenge. Talk to your financial planner," said Steve.

Watch the video above for more insight from our Financial Planners.