The Real Storm Is Coming. Get Ready.

Dear Rich Lifer,

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

Not only is the novel coronavirus still a threat, but the nation is in upheaval following the murder of George Floyd and ensuing protests — some of which have turned into riots and looting.

The “new normal” is that nothing is normal.

We know that one day, things will get better. 

Not just in terms of quarantine and virus fears (We’ll all be able to go outside without face masks, we’ll see our family and friends again, etc).

But now is a major moment of change for our country, when we are being forced to ask hard questions about race. These questions are important, and demand answers, but they are answers hard to come to, with solutions that will make some people angry, when we’re talking about a national scale.

The good news is, things are changing for the better. With Phase 1 reopening of the economy, bank accounts will rise again. With large scale conversations about race happening around the country, policies that have been hurting marginalized communities will be fixed. Things always improve. This is why we love this country. We never stop pushing forward.

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. 

On this, we speak specifically on the harms the shutdown of the economy has been causing. (We will discuss more about the Black Lives Matter movement in an upcoming issue. It undoubtedly deserves more attention.)

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

Surely 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,

The Rich Life Roadmap Team

 

You May Also Be Interested In:

Why You Should Plan To Retire YOUNG And RICH

People who work for a paycheck have the least control over their taxes and pay the most in taxes, even after they retire. If your income today comes from the E quadrant, you may want to consider doing something to earn income from other quadrants.

Peter Coyne

Peter Coyne is the publisher of all of Paradigm Press’ free and paid publications. He received his degree in economics and political science from Loyola University Maryland where he studied under the Austrian economist, Tom DiLorenzo. Before joining Agora Financial, Peter worked in Congress for Dr. Ron Paul until he retired in 2012.

View More By Peter Coyne