The Real Storm Is Coming. Get Ready.

Dear Rich Lifer,

It feels like we’ve all been living in a strange bubble this last month or so …

The “new normal” is that nothing is normal, and I, for one, am growing weary of it. 

I know that one day, everything will get better again. 

We’ll all be able to go outside without face masks and fear. 

Our bank account balances will rise again.

We’ll see our families and friends, we’ll go to movies and ballgames, we’ll have birthday parties and vacations. And I’ll finally be able to go surfing with my daughter without an dirty looks, or getting downright yelled at.

Life will be back on Easy Street. 

And that’s the good news. Things always bounce back.

But the bad news is that things are going to get worse — maybe a lot worse — before they get better.

What’s going on in the world right now will have far-reaching consequences. 

The chairman of Tyson Foods warned that the food supply chain could break down entirely in just a few weeks …

Millions of people have already been laid off, and further rounds of layoffs are coming. Big companies ranging from Tesla to Disney to Boeing have given their employees the pink slip, and they have no idea when they’ll be able to bring them back …

Because of all of this, current estimates show that as many as 265 million people will fall into extreme poverty this year. That’s twice as many as the normal number, and sadly, far too many of these people will die from starvation. 

Unfortunately, there’s not a lot of time between now and when we start to see these predictions coming true.

There is a little time, though, and that means you still have time to act. 

Should the worst happen, there are still things you can put into place to make sure you and your family are insulated from the repercussions of this looming crisis. 

Save When You Can

This is obvious, but spending extravagantly right now is not a wise move. Make sure you have enough to last for a few months at least before planning a vacation or expensive home improvement project. 

Spend judiciously and save carefully. If you can find a way to make more in this time — like with intelligent investments — that’s even better. 

Store Water

When we talk about the “essential employees” who are keeping the country running, we think of police, medical personnel, and grocery store clerks. Many people fail to think of the true unseen essentials – workers who keep the electrical grid up and the water flowing. 

If something should happen to these people, we can live a while without power, but we’ve only got a few days before dying of thirst becomes a very real problem. Store water while you can. You can collect it in rain barrels or other large containers – just avoid old milk jugs. Milk residue can cause bacterial growths in your water, and that completely ruins the purpose of having clean water on hand.  

Build A Smart Stockpile

As I’ve mentioned in emails past, it’s time to start over-stocking your pantry and medicine chest. Buy nutritious staples that will last and first aid supplies you might need. 

Be sure that you’re buying intelligently. If no one in your house likes canned spinach, don’t bother stocking up on it even if it’s a great deal. If you don’t want it now, chances are good you won’t be too keen on it in the future, either.  

Also, don’t forget the family pets. Add pet food and medicine to your stores, too. 

Store Your Essentials Safely

Some homes have large pantries perfect for prepping, but most don’t. Make sure that you have a place to store food that is temperate, dry and safe from potential pests. 

It might seem easy to throw everything in the garage now, but just think how upset you’ll be if you find that a water heater leak ruined everything or that mice have helped themselves to your food down the road. 

Stock Up On Toiletries

We’ve seen people go toilet-paper-crazy over the last few weeks, but they’re forgetting that you need to clean the rest of your body, too. 

Double down on items like shampoo, toothpaste, and dish soap. Staying clean is an important part of staying healthy.

Keep Your Plans Quiet

I’m sure your friends and neighbors are very good people, but when faced with a crisis, people can change – and not always for the better. 

No one needs to know what kind of stockpile you’re sitting on. Sure, you can always offer help in the future, but keep your cards close to your vest or you’ll risk having that option – and everything else you’ve got – taken away from you by force. 

Commit To Fitness 

Right now, people who are suffering from medical conditions like obesity, diabetes, and high blood pressure are more at risk from coronavirus than those who are completely healthy. 

We aren’t as young as we used to be, but there are still things we can do to improve our fitness and reduce our risks dramatically. Losing weight, exercising more, and getting proper supplementation is more important now than ever, so look for the areas in which you are less than fit. Then, make the necessary changes to fix them. 

Stay Flexible

The only thing we know for sure at this point is that the future is uncertain. Don’t decide on a plan and then refuse to deviate – you’ll almost certainly be sorry. 

Make sure you’ve got provisions for sheltering in place (yes, even more than you currently are) and plans for what to do if you have to leave your home. Think of ways you can protect yourself and your family and then mentally rehearse what you’ll do in different scenarios. 

As more information comes in, be willing to adjust your plans. People die in disaster scenarios because they’re unprepared physically and mentally. Commit to staying mentally flexible now so this doesn’t happen to you. 

If we’re lucky, the great financial storm won’t impact us too much. Maybe states will open up next week, people will go back to work, and we’ll get back to normal quicker than anticipated. 

In case that’s not the way it goes down, though, do your homework now. 

The more of this stuff you handle now, the better prepared you’ll be no matter what comes your way.

To a richer life,

Nilus Mattive

Nilus Mattive

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Nilus Mattive

Nilus is the editor for the daily e-letter The Rich Life Roadmap and a Paradigm Press analyst.

Nilus began his professional career at Jono Steinberg’s Individual Investor Group, where he published his original research through a regular investment column. Later, he worked for a private equity business and spent five years editing Standard and Poor’s...

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