I do not want this to be a political debate nor an opportunity to post recent headlines. However, in my opinion, this administration seems to be taking actions which history suggests may lead towards a near or total economic collapse. Whether you agree with this or not is irrelevant.
This post’s question is: If one were to have a concern that they’d no longer be able to afford common household goods or that mainstream (S&P, Nasdaq) financial investments were no longer sound, what can one do to prepare for “the worst”? What actions could someone take today to minimize economic hardship in the future?
I would also like thoughtful insight from older adults to offer younger adults about how they should be better preparing themselves for an uncertain future, outside of current events or place of residence.
Learn how to cook, go on some camping trips. You’ll learn a little bit of self-sufficiency and get a break from society.
Take care of your mental health. The first thing that breaks down in a disaster is usually your mental state.
Discuss your emergency plans with the people that you would be including in them. Know where you’re staying if you need to hunker down and know where you’re going if you need to leave.
At the end of the day if there’s a full economic collapse there’s not much you can do except survive and take care of yourself and those you love. A total economic collapse means your money won’t be worth anything, your investments will go to zero, and your best bartering chip is going to be food/water over a chunk of gold.