Another weekend, another couple items on my list moved ‘into the green’. While I was at CostCo picking up oatmeal and hand sanitizer I noticed that the seemingly endless social distancing annoyances are fading. The directional arrows to encourage one-way traffic in an aisle? Gone. The “Please wait here until called forward by cashier” signs? Gone. The red tape on the floor marking where to stand with your cart while in line? Gone. Requirement to wear a mask? Still there. Can’t have everything, I suppose.
Having finally gotten the house paid off has freed up enough cash from the monthly budget that spending $50 a weekend on ‘preps’ is a less than zero sum game, budgetwise. I need to start moving some of that available money into my Roth, cash savings, and metals.
The hardcore among you will say that I’m foolish to be putting money into my Roth when the economy is going to come crashing down any day as the BIlderbergerTrilateralCFRIlluminati sre only moments away from executing their grand plan to crush the US economy and get the Blue Helmets out on the street.
Look, I’ve been a survivalist for over thirty years…I’ve needed $50 bills far more often than I’ve needed .50 BMG. And being a survivalist means you prepare for the future…and if the economy doesn’t come crashing down, I want to be ready for that too. So..I continue to put money into the markets through my Roth. And, just in case, I also put money into silver. And, for those middle-of-the-road emergencies…cash. And none of those strategies, such as they are, are preventing me from making progress. Putting money in my Roth isn’t leaving me vulnerable and unprepared against the boogaloo, and preparing for the zombie apocalypse isn’t keeping me from making smart moves with my Roth and savings. I can do those things at the same time.
Right now, I don’t see the economy imploding and turning us into a crowd of Steinbeck characters standing around a campfire trading .22 cartridges for gasoline. So, what do I think is going to happen?
Unemployment is going to stay high for the short term, GDP will improve but still be negative for at least another quarter so not a recession in the technical sense but, really, a recession, and the market will continue to gain until the election, when all bets are off.
Whats that mean to me? It means continue to live well within my means, buy now what I think I may need later that may not be available, buy and hold when something in the market looks underpriced, steadily and consistently buy a little metal here and there, and put back as much cash as possible. Think about the effects of a hobbled economy and what risks and opportunities it’ll present.
What should you do? Beats me. Your situation is unique and you are the most qualified person to evaluate the courses of action you should take. But, the one thing I can recommend to you is this: think. Don’t just daydream when you’re in WalMart about “Oh, maybe I should get some of these…” or jawbone with your buddies “If it gets bad, I’m gonna…” Get away from the computer, find a quiet place where you won’t be disturbed, sit down with a notebook and a pen, and actually, actively, purposefully…think. What are your liabilities? What are your priorities? What are the risks to you? What can you stand to give up? What are you willing to do to make your position more secure? What opportunities are you aware of that may present themselves? Whats your worst case scenario? Whats your most likely case scenario? “I want to be resilient enough that if XXXXX me and the family will be okay for the duration”…great, now plan how to get there.
Very few people build anything well…a car, a house, a relationship, a life…by just spitballing it and going about it half-assed. Some people do, and thats more luck than anything else. Luck is for rabbits. Don’t rely on luck. Find what it is your worried about and then come up with a plan, a strategy, a course of action and behavior, a roadmap to get to the position where that thing you are worried about becomes something you’re not worried about.
My life is not yet nearly as resilient as I’d like it to be. But it has reached a point where it is leaps ahead of many other people’s lives. I’m not unsinkable, but I can withstand icebergs that would crush my neighbors. So..I’ve got that going for me, which is nice.