[muzani]

With stuff like crypto and stocks plummeting, they might be worse than holding on to the cash.

Personal skills are always a great investment IMO. If a country's economy implodes, there are still other countries doing better and hiring. Someone with good skills is going to have an easier time.

[MacsHeadroom]

No, they're better for holding* (and buying). So long as you won't need to cash out during the recession, it's the ideal time to hold and to buy.

Conversely, a bull market is the ideal time to cash out.

aka "Buy low, sell high."

*Assuming they'll still exist after the recession. For example, I would be weary of equity in the subset of relatively young companies which DON'T have record lay-offs in the next two quarters. (Failing to preemptively trim more than just fat is a big red flag.)