We have been in a very long period of economic expansion. It might not feel like it’s getting better because it’s been a slow expansion. We are gaining though.
This of course begs the question: “When is it going to end?”
Here are the top 3 expansions going back to 1950.
• Starting in 1991, lasting 10 years
• Starting in 1961, lasting 8.8 years
• Starting in 2008, lasting 8.1 years (currently)
The average number of years for recovery since 1950 is 5.7 years.
Some experts now think this expansion is about ready to switch to a recession.
Financial adviser Rick Reagan through doesn’t see that happening. He thinks there’s a good chance we could take over the second spot in the listing above.
Rick thinks that we might be able to have the longest economic expansion on the books.