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Sunday, March 8, 2009

What To Do in an Economic Collapse


Survival Links provides some great common sense ideas in the event of a social economic collapse. With the times we find ourselves in, an economic collapse could be looming at any moment, please read the list below so that you will be well prepared;

  • REDUCE YOUR DEBT: Reducing ones debt to as close to zero as possible is essential. That may involve selling off some of your real estate investment, moving to a smaller home, refinancing your home mortgage to a 15-year loan, and eliminating your credit cards. Stop paying interest.
  • Do not be dependent on the government for your well-being. Try an be as independents and self reliant as possible for your income.
  • Take control of your own finances. Read many alternate sources of information. Do your homework. Be careful to understand what is going on. Avoid states of denial. Become as independent as possible.
  • Make yourself save as much as you can. Most people live above their means. Learn to live below your means. If you save a minimum of 10% per month, you can grow your wealth very safely. Some can save 20%-25%.
  • Diversify your investments, include investing in Swiss money instruments,gold, different currencies.
  • Avoid weak financial institutions. Get out of harm's way. Many banks, brokerage house, S& Ls and insurance companies are tottering on the brink of disaster or close to it in the event of a market downturn. And in spite of the perception to the contrary, there is no substantive insurance safety net under these institutions.
  • Avoid popular investment markets. There are few goof opportunities for conservative investors. Stocks are overvalued. If you own stocks have stops in place. Corporate bonds are vulnerable and will drop as U.S. interest rates rise. Be very selective in investment real estate. Commodities are out of favor and at bargain prices. All things are cyclical and go from being under valued to over valued.
  • Find investment safe havens. The three best and most conservative investments to put your money into over the next few years are gold and silver, foreign government bond funds, and U.S Treasury bill money market funds. Don't announce to the world what you are doing; keep a low profile.
  • Legally bulletproof your business and personal matters. America is the most litigious country in the world, with 700,000 lawyers and 187 million new civil lawsuits per year. Every doctor, professional business person or business owner has a nightmare about being sued into ruin.
  • Change your mindset about the news, about investments and about your financial security. To survive the coming hard times, you must change the way you do things, the way you think, and the way you invest. You must read between the lines in today's news reports ... find alternative investments and financial institutions ...and plan for the future.
  • Purchase a one-year food supply and have a large water source. Own tangible assets or commodities that can be bartered or traded.
  • Buy real estate in a small town or rural community that can serve as a retreat or place of refuge.
Original: http://theaspiringsurvivalist.blogspot.com/2009/03/ready-to-post-what-to-do-in-economic.html