With every passing day, the chances of an upcoming recession increases. Just a few days ago, we had more experts highlighting that the US economy is likely to spiral towards a recession next year. If a global recession strikes, you'll be sure that Singapore will not be spared from it. While it's usually a good time to invest in equities during recession periods if you are looking to play the long game (refer to this post), the first thing that you should be doing in the wake of a potential recession is not to look at your investment portfolio. The first thing you should be focusing on is how much leverage (or in simpler terms, debt) you are having. There is a famous saying from Warren Buffett that goes- "It's only when the tide goes out that you learn who has been swimming naked ". You certainly do not want...