- A major pension fund is on the brink of default...and so is the insurance company that guarantees these pensions.
- Trump is threatening to shut down the government this week.
- The Dow is on the verge of a death cross.
- In fact, this is the worst start to a December for the market since the Great Depression.
- Even the hot housing market is cooling off.
- Many are saying a recession is on the way.
No matter what the economy does, everyone needs to be as prepared to weather a financial storm as they are a winter storm. If isn't if, but when, these sorts of storms will hit so be prepared by:
- being debt free
- paying off your home as quickly as possible
- having a fairly large emergency fund
- spreading your investments across a range of products
- living below your means
- knowing how to do for yourself (knowledge, skills, tools, etc)
- having multiple sources of income
- having good credit
- having as few bills as possible
- owning your vehicles free and clear
- having a stockpile of barterable items (and experience bartering)
- having a stockpile of food and supplies
Post a Comment