If we don’t take steps to protect our wealth no one else will do it for us. We can’t rely on banks or government schemes to take care of us when times are hard. In fact, these institutions can freeze or seize our assets whenever they feel the need.
In a SHTF scenario of total collapse, banks and governments won’t even exist anymore.
To be truly prepared when disaster strikes, we need to think outside the box – or outside the bank account. There’s a lot we can do to secure our assets and lots of ways to build them back up, as long as we get creative about it.
1. Educate Yourself
When it comes to personal finance, education is a form of investment. Read up on financial markets, interest rates, and currency fluctuations so you understand how they work. This will not only help you save money in the short-term but will also help you read the signs of impending financial crisis. When you know what’s coming well in advance, you have a better chance of avoiding it.
2. Find A Place To Escape To
When SHTF you want to get away from the epicenter. This holds true whether you’re facing an earthquake or a stock market crash. Things might go pear-shaped in the US or the UK, but life might still go on in China or New Zealand. Hatch an escape plan by getting permission to reside overseas. If possible, choose a country with a lower cost of living. The application process is usually lengthy, so the sooner you get started the better.
3. Open Offshore Bank Accounts
If you’re not able to move abroad or buy residency privileges, you should at least open offshore bank accounts. In the event of a localized crisis. banking offshore protects your assets from being frozen by your government. You can choose a jurisdiction where banking is more transparent and highly-regulated, like the Isle of Man, for example. It also allows you to save money in different currencies for added security.
4. Keep Physical Cash
If a natural disaster occurs and you need to bug out fast, you won’t even be able to reach the bank. If the grid goes down, your cards become worthless plastic. Keep physical stores of cash in a strong currency like dollars, sterling or euros. Spread your cash across different locations to minimize loss from theft. Some should be kept in a fire-proof safe, some can be hidden around your home and some should be kept off-site.
5. Buy Precious Metals
Precious metals will always be worth something, even when the dollar isn’t. Therefore, every forward-thinking prepper should invest in gold or silver bullion. These are reassuringly physical assets which can only be taken away from you by force. Their value may fluctuate slightly, but only up to a point and only while financial markets still exist. In a rebuild/recovery scenario we’ll go back to the way things used to be, when gold was the most precious substance on Earth.
7. Claim A Patch Of Land
When it all goes down you will need a safe place to stay. That means buying an actual, physical patch of land. This should be somewhere remote, away from traces of civilization. Your own Pacific island sadly isn’t an option unless you’re Mark Zuckerberg. There will still be good choices within your home country, though – even the UK has the Outer Hebrides. Land is an investment that can hold or increase its value in a SHTF scenario, especially if it’s good growing land.
8. Diversify Your Assets
In other words, don’t put all your eggs in one basket. There’s no use keeping all your wealth in cash if your home is flooded. There’s no point putting it all in cryptocurrency if the web goes down and doesn’t come back up. If you need to bug out with only what you can carry, that heavy gold won’t do you much good. Invest small amounts in a variety of ways to minimize your overall risk.
6. Consider Cryptocurrency
Cryptocurrency is digital money which can be sent and received directly from person to person. There’s no need for a middleman, like a bank. Every transaction is publicly recorded and encrypted on a digital ledger. The immediate attraction of cryptocurrency is that it’s decentralized. Anyone can start trading in it, whenever they want. It’s also accessible from anywhere, for as long as the internet continues to exist, or as soon as it comes back up. Digital currencies like Bitcoin or Ether are good choices to dip your toe in the water with.
9. Do Well In The Downturn
Certain industries are likely to stay stable or even experience growth in a disaster scenario. These include water, basic food supply, minerals, and essential building materials. When SHTF, what money we still have will go into staying alive, warm and dry. It will be a long time before we start to invest in anything beyond the most basic amenities.
10. Invest In Yourself
When all the money in the world is gone, you’ll still have your own two hands to rely on. Invest in yourself by developing post-collapse skills you can use to survive and rebuild. These include carpentry, smithery, farming, healing, fighting, hunting, and foraging. You will also be able to barter these skills in exchange for vital supplies. Eventually, you might even get paid for them.
Of all potential disaster scenarios, a financial crisis is the most likely. Not to mention, it’s an inevitable knock-on effect of any other type of emergency. Get wise with your money now and you’ll see results in the short-term, in the long-term and even in a time after the clocks have stopped.