A familiar sense of unease is creeping into financial markets, with economists and investors warning that the global economy could be vulnerable to another major financial shock. That doesn’t necessarily mean ASX shares are on the verge of a 2008-style collapse. But the warnings are worth considering.

Nouriel Roubini, who famously predicted the Global Financial Crisis, continues to highlight the risks from excessive debt and government borrowing. Ray Dalio has similarly warned that the world is approaching the later stages of a long-term debt cycle.

Meanwhile, concerns are building around stretched asset valuations, private credit, commercial real estate and the enormous sums being poured into artificial intelligence.

So, is GFC 2.0 coming? Not necessarily.

There is no consensus that another banking crisis is imminent. However, the broader warning is difficult to dismiss: vulnerabilities have accumulated across parts of the financial system, and several could reinforce each other if economic conditions deteriorate.

How should investors prepare?

The answer probably isn’t to sell all your ASX shares and hide in cash.

Timing a financial crisis is notoriously difficult. Investors who abandon the market while waiting for a crash could miss years of gains if the predicted crisis never arrives.

Instead, investors should focus on building resilience.

Watch leverage

Highly indebted businesses can be particularly vulnerable when interest rates remain elevated or economic growth slows.

Companies with strong balance sheets, manageable debt and reliable cash flows may have a better chance of weathering a downturn.

This is particularly important when assessing ASX shares trading on ambitious growth expectations.

Diversification matters

Owning 20 ASX shares doesn’t necessarily create a diversified portfolio.

Investors should consider spreading exposure across companies, sectors and geographies and, where appropriate, different asset classes.

Concentrating too heavily in one expensive investment theme can turn an ordinary correction into a devastating portfolio loss.

Don’t ignore valuations

A great business isn’t automatically a great investment. If a company’s share price already assumes years of near-perfect growth, even a strong business can deliver disappointing returns.

The artificial intelligence boom illustrates the point. AI could ultimately transform the economy, but that doesn’t mean every AI-related ASX share will generate attractive returns from today’s valuations.

Keep some liquidity

Investors should also avoid putting themselves in a position where falling markets force them to sell their ASX shares.

Maintaining an emergency cash buffer and avoiding excessive personal debt can provide valuable flexibility when markets become volatile.

Foolish takeaway

The biggest mistake may be trying to predict whether the next financial crisis arrives in six months, five years or never.

Nobody knows.

What investors can control is how resilient their portfolios are when something unexpected happens.

Rather than betting on whether GFC 2.0 arrives, investors may be better served by preparing their portfolios for volatility while continuing to look for opportunities when fear eventually creates them.

The post GFC 2.0? Could ASX shares be heading for another major crash? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Friday
• How much superannuation do I need to earn $80,000 per year in passive income?
• Corporate Travel Management recently resumed trading – Here’s why it could be a buy
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Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

When it comes to superannuation it’s a great idea to have a target in mind so you can have some comfort that you’ll be well looked after in retirement.

Starting early brings with it the benefits of compound interest and can make what seems like a large savings task much more achievable.

Savings currently falling short

It’s true that, on average, people’s superannuation savings at age 60 fall well short of being able to generate the $80,000 per year in passive income I am looking at today.

Figures from the Association of Superannuation Funds of Australia show that men aged 60-64 have on average $395,852 in superannuation while women have $313,360.

So, how much would you need in your super to generate $80,000 per year in passive income?

Let’s do the sums.

If you were able to generate a 10% average dividend yield on your investments, which would be a difficult task, you’d need $800,000 in superannuation.

If you were getting just a 5% return, you would need double this, at $1.6 million.

I would argue that with the benefit of franking credits, retirees can aim for a return somewhere in the midpoint. So, to generate $80,000 from a 7.5% return, you would need to have $1.06 million in retirement savings.

Franking credits are crucial to this equation. If you invest in fully franked dividends, you get back all the tax the company has already paid.

This is because retirees are not taxed on their superannuation earnings.

In practical terms, this means a share paying a 5% dividend yield actually pays 7.14% once franking credits are included.

Which shares might help you hit the $ 80,000-per-year goal?

Infrastructure stocks such as APA Group Ltd (ASX: APA) and toll roads operator Atlas Arteria Ltd (ASX: ALX) pay healthy dividends of 5.36% and 8.86%, respectively.

In the resources sector, iron ore miner Fortescue Group Ltd (ASX: FMG) pays 6.07%, Santos Ltd (ASX: STO) pays 3.67%, and Woodside Energy Group Ltd (ASX: WDS) pays 5.04%.

In the financial services sector, Regal Partners Ltd (ASX: RPL) is paying 11.06%, Bank of Queensland Ltd (ASX: BOQ) is paying 6.03%, and Westpac Banking Corporation (ASX: WBC) is paying 4.39%.

How to check your progress

If you’re keen to check how much superannuation you’re likely to have when you retire, it’s worth checking out the federal government’s Moneysmart website, which has an easy to use calculator.

And if you want to top up your superannuation, it’s also worth reading up on concessional contributions, which are contributions you can make to your superannuation each year up to a cap of $32,500, which are only taxed at 15%.

Keep in mind that the $32,500 cap includes any employer contributions and salary sacrifice contributions.

The post How much superannuation do I need to earn $80,000 per year in passive income? appeared first on The Motley Fool Australia.

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• 2 ASX shares I think could return more than Westpac
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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Apa Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Corporate Travel Management Ltd (ASX: CTD) shares resumed trading on 3 September. This came more than a year after the shares were suspended from the ASX.

Its shares were suspended for 13 months because the company couldn’t complete its audited financial accounts while an investigation into its billing practices was underway.

The investigation found that the company had overcharged clients by more than $250 million. This included around £80 million relating to UK government contracts.

The stock last traded at $16.07 before the halt began in August 2025.

On their first day back, shares crashed a monumental 85%, and are now hovering around $2.13. 

So is this a bargain buy, or simply too big of a risk?

The bull and bear case

Despite the negative headlines, the underlying business is still performing reasonably well. 

FY26 revenue rose to $670 million, and underlying EBITDA increased 36% to $114 million. The company also returned to a statutory profit of $17.7 million. 

It also continued to win and renew large contracts, suggesting customers haven’t abandoned the business.

However, the big risk is that the problems aren’t completely behind the company yet. 

Revenue also fell in July compared with the previous year, which raises questions about whether the business is actually recovering. 

If the liabilities increase, customers leave, or it needs to raise more capital, shareholders could suffer further losses or dilution. 

On the other hand, if Corporate Travel Management finishes the repayments, avoids further problems, gets a clean audit opinion and returns to growth, the current share price could prove very cheap. 

In simple terms, it is potentially a good business at a distressed price. But buying it now is a high-risk bet that the worst is over.

What is Morgans saying?

In a note out of Morgans this week, the broker said it believes Corporate Travel Management is a “turnaround story under new leadership.”

Following years of overcharging clients, it will refund them A$246m by 30 September 2027, supported by its new A$175m debt facility. 

FY27 guidance will be provided at the AGM. We forecast earnings to fall materially due to a higher AUD, reduced special project work and higher corporate costs. Earnings growth should resume from FY28 given new management’s strategy. The acceleration of new client wins in the first two months of FY27 is encouraging. Given what has gone on, it will take time for confidence to rebuild and risks remain. However, we think CTD is a turnaround story under new leadership with material upside potential if it executes. We resume coverage with a BUY and A$3.06 PT.

From the current share price, this indicates an upside potential of over 40%. 

Foolish takeaway 

Corporate Travel Management is a high-risk turnaround investment. While the underlying business shows signs of recovery, significant customer liabilities, a modified audit opinion, and weakening recent revenue leave the company financially uncertain. 

Investors are effectively betting that no further major problems emerge and that it can resolve its liabilities and return to sustainable growth. 

But if that doesn’t happen, further losses or shareholder dilution are possible.

The post Corporate Travel Management recently resumed trading – Here’s why it could be a buy appeared first on The Motley Fool Australia.

More reading

• Corporate Travel shares plunge another 9%: Is the worst yet to come?
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• Why I’m still smiling after losing 85%

Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Corporate Travel Management. The Motley Fool Australia has positions in and has recommended Corporate Travel Management. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.