What are the odds of an economic recession this year? Take your pick of prognostications. Some pundits say there’s a better than 35% chance the U.S. will fall into a recession in coming months. Others predict a greater than 50-50 chance. A few doom-and-gloomers forecast recession’s likelihood at no less than 70%.

But there’s one bit of good news. It may be mid-year or later before a recession arrives, say a number of those bold enough to try predicting a 2023 recession’s ETA. This means you may have time to prepare for a downturn.