‘Recession is inevitable’: Elon Musk now thinks there’s a larger than 50-50 likelihood that the financial system will decline. Listed below are 3 easy methods to guard your moneyThe U.S. financial system made a powerful restoration from the COVID-19 pandemic. However based on Tesla CEO and billionaire Elon Musk, the nice occasions could be over fairly quickly.“I feel a recession is inevitable in some unspecified time in the future,” he stated on the Qatar Financial Discussion board on Tuesday.“As as to whether there’s a recession within the close to time period, that’s extra probably than not. It isn’t a certainty, however it seems extra probably than not.”This isn’t Musk’s first financial warning.In an e-mail to Tesla executives earlier this month, Musk stated that he has a “tremendous unhealthy feeling” in regards to the state of the financial system and desires to chop 10% of the corporate’s workforce.Do not missWe are in a bear market already. If the financial system falls right into a recession, many shares may see additional draw back.The excellent news? Some sectors are extra recession-resistant than others. Right here’s a take a look at three of them.Client StaplesConsumer staples are important merchandise corresponding to meals and drinks, family items, and hygiene merchandise.We’d like this stuff no matter how the financial system is doing.If a recession hits the U.S. financial system, many firms will probably see their enterprise deteriorate. Nonetheless, we’ll in all probability nonetheless see Quaker Oats and Tropicana orange juice — made by PepsiCo (PEP) — on households’ breakfast tables. In the meantime, Tide and Bounty — well-known manufacturers from Procter & Gamble (PG) — will probably stay on lists coast to coast.You’ll be able to achieve entry to the group via ETFs just like the Client Staples Choose Sector SPDR Fund (XLP) and the Vanguard Client Staples ETF (VDC).UtilitiesThe utilities sector consists of firms that present electrical energy, water, pure fuel and different important providers to houses and companies.Story continuesThe sector isn’t an enchanting one, however it’s recession-resistant: It doesn’t matter what occurs to the financial system, folks will nonetheless must warmth their houses within the winter and switch the lights on at night time.In the meantime, excessive boundaries to entry shield the earnings of current utility firms. Constructing the infrastructure wanted to ship fuel, water, or electrical energy is sort of costly, and the trade is extremely regulated by the federal government.Due to the recurring nature of enterprise, the sector can be recognized for paying dependable dividends.If you’re searching for the very best utilities shares, names within the Utilities Choose Sector SPDR Fund (XLU) present a very good start line for additional analysis.HealthcareHealthcare serves as a traditional instance of a defensive sector because of its lack of correlation with the ups and downs of the financial system.On the similar time, the sector gives loads of long-term development potential resulting from favorable demographic tailwinds — significantly an getting older inhabitants — and loads of innovation.Common traders would possibly discover it tough to select particular healthcare shares. However healthcare ETFs can present each a diversified and worthwhile approach to achieve publicity to the area.Vanguard Well being Care ETF (VHT) offers traders broad publicity to the healthcare sector.To faucet into particular segments inside healthcare, traders can look into names like iShares Biotechnology ETF (IBB) and iShares U.S. Medical Units ETF (IHI).This text gives data solely and shouldn’t be construed as recommendation. It’s supplied with out guarantee of any sort.