The title for this post was the hardest of all for me. What to call it…hmm… Some potential options were:
- Preparing for the Zombie Apocalypse
- The Government and Me: a Love Story
- Back to the Future 4: Insanity Overtakes America
- Fearmongering 101
- DIY Tin Foil Hat Ideas
I settled for a title that is a little less outlandish but hopefully still conveys the idea behind today’s post. What does tomorrow hold? Good question. Today, I’m going to go through a quick run-down of some of the ways I believe we should all be prepared to deal with the future, without becoming die-hard conspiracy theorists and without ending up on a terrorist watch list. Your comments for this should be fun, if nothing else. Let’s dive in.
Risk
We can all agree that NO ONE knows the future. We can all agree it is our responsibility to be prepared, as best we know how, to approach whatever the future may hold. We can all agree extremely high levels of debt are bad. Most of us would agree if you can be totally debt free, you should. I would propose that it all boils down to risk mitigation – minimizing the unnecessary risks in your life. That is in fact how I opened From Debtor to Better, with a discussion of risk, risk management and how to do a basic risk assessment.
I believe a reasonable mortgage is a sometimes-necessary step to fully owning your own home and being completely debt free. If you rent forever, you are always required to come up with a monthly sum to pay a landlord. If you have a mortgage, you are “always” required to come up with a monthly sum to pay the bank…until you pay it off. Unlike rent, you can pay extra and be done with a mortgage faster. Renting is not evil and is a very good idea for many. However, if the goal is to minimize your risk, the goal should be to OWN (not borrow, rent, steal) enough property and living space to be relatively self-sufficient. My point: if you lost your job the day after your mortgage was paid off, it would be a lot easier to deal with because you would need a lot less cash to make ends meet each month.
Investing/Money
We have to make educated decisions as to what is the best way to provide for our family’s long-term needs.
Below are my thoughts on basic investing:
- I don’t believe in all the gold investing hype. Why? There are least seven reasons gold doesn’t make sense to me.
- I don’t believe the government can take care of me when I retire, so planning on Social Security makes no mathematical sense, even if you’re already pretty close to that golden age of retirement.
- I believe there are too many entrepreneurs out there with too much ambition to let our economy be driven completely into the ground. Notice I didn’t say the government wouldn’t try…
- I believe in investing in mutual funds is the safest long-term savings plan that minimizes the risk that my money will magically disappear.
- You NEED short-term savings that are easy to get to in case of a crisis. Cash is always good and utilitarian items to barter are pretty handy too. Haven’t you ever watched an “apocalypse” movie?
- Cashing out a 401k or other retirement plan is DANGEROUS. You’re betting the government or our economy will fail. If you’re wrong, you are in a tough spot when retirement comes along. Plus, you pay a stiff penalty + taxes for cashing out these types of plans.
Food
With GMO seeds and modern farming practices, it is becoming more and more difficult to live independently through gardening, but I think knowing how to grow your own food, store it (canning, freezing, dehydrating), and prepare it multiple ways are all essential skills every person should know.
If you have the black thumb of death, as we do, partner up with someone who likes to garden and exchange that skill for one you might have in other essential areas (food storage, for instance). I also believe water filtration and storage are critical issues – BERKEY to the rescue.
Hunting is a skill that is quite helpful and should be taught to those willing to learn, as nature does a good job of providing protein-rich food if we’re willing to seek it out. For those all up in arms about guns and gun control, recognize I’m referencing a hunting rifle/shotgun and plenty of ammo as tools to provide food for your family (whether for food or protection) and not trying to make a political statement about gun rights.
Summary
I could keep going about ways to prepare for the future, but I think you get my drift and since I’m pushing 800 words, I’d better stop for now. I’d love your input – what are some ways you prepare for the future?
I love your idea of exchanging/bartering services if you can’t garden. We had a garden in Nebraska two years running and then we moved to Nevada. The land of the dry heat with lots of sand, rocks, and SUN. Haven’t figured out gardening here yet but soon I hope! I want to learn canning though!
Canning is an awesome skill!
I’ll tell Barry you said so. 🙂
What a great site and what an articulate argument for preparedness … Thank you!
Yes, we have a Berkey water filter system. In our Goody bags we also have Berkey water bottles and water purification tablets. 🙂
Ha, I love your potential titles, especially the zombie apocalypse one. But I’m a fan of the zombie genre (have been since before The Walking Dead started) so I suppose I’m partial to that title. 🙂 These are all great tips! I’m going to pin this one.
Hope you two have a great day! 🙂
Julie @ This Gal Cooks
🙂 Thanks for pinning!
This is why I love this blog: it’s about homemaking and money saving, but you used the words zombie apocalypse. What a fun place to hang out.
🙂 We’re cool people…not. LOL
I love your post about preparing for the future! We currently have a small garden in our backyard that provides the essentials for our family of two and also we hunt for our meat. We do not eat beef unless we are eating out on some random night. I have found that the deer, duck, quail, turkey, pheasant, and dove that we hunt are a very lean protein and it is very healthy for you! I am a huge advocate for people who hunt to eat! We also fish and have (not so good for you) fish fry’s whenever the bass are running the river. We haven’t started looking into water filtration though. Do you have a sort of water filtration already put into place that you use daily or do you have some sort of emergency water filter that you only use in emergency situations? Thank you for the wonderful blog!
I’m sorry life has given you a difficult new challenge, but I can tell from your comment you are taking it as the opportunity to learn, grow and FIGHT. Keep that attitude and you can change the world!
I try to stay prepared, and always be flexible with an eye on the future. I am always learning, and flexibility, is very important as things can change drastically in the blink of an eye. Just this year my husband was diagnosed with MS. This has caused us to look at and rethink our entire plan. Now, we need to prepare for a future that may mean early retirement, disability and possibly other unknowns.
Amen. Preach it!
🙂 I am not opposed to a reasonable mortgage, as I said in my post. Put down 20% to avoid PMI if you can (wasted money otherwise) and look for a level-term loan that gives payments of no more than 30% of your monthly take-home pay. Do that and you’re okay to have a mortgage in my book if home ownership makes sense to you. However, if you are financially unsteady, don’t think you’ll live in one place for at least 5+ years, are in a major life transition or expect to be soon, DO NOT BUY – renting is perfectly okay.
Your last sentence is the key – if you can’t live below your means, you’ll never be prepared financially.
Now if you could just learn to make some highly fashionable tin foil hats ;0)
Glad you are prepared and even more, that you love life. Many can’t say that.
I agree with most of your post, this one particularly hit home. I am unemployed with no financial benefits and a tear from retirement. Thankfully I have a terrific husband who supports me in every way. I started making everything I possibly could (soaps,laundry soap,etc.) That’s when I decided I can do more. I started a garden,took up sewing again,crocheting,knitting, etc. I make my own gifts for friends. Anything I can do to only depend on ourselves. We’ve learned to shoot a rifle for hunting and protection as we live in the mountains . I love my life for the first time in 61 years. To say I’m ready for what the future holds, maybe not but we’re doing everything we possibly can to face it head on when and if it happens.
Thank you for your posts
Judy
Good post stuff I thought about for a couple years now. As a single mom I always try to stock up on extra food and want to plan for any future ” ermergcy”. I read your e book and am taking a budget class today and I really want to start saving, I thought it was to late to start saving but reading the ebook change my mind thank! I want to get your book when I get paid so I can learn more, also I’m look in to get a USDA home loan to get a house for the kids and I any thought on that? Will thanks for you blog it thought me a lot and to think I found it because I wanted to make homemade granola bar, and I read her blog for days! You guys rock!
Great post! Would love to hear more ways to prepare for the future. Thanks for sharing!
Hi Stacy,
My portfolio is very diverse. My investments are stocks, bonds and some other dibbles and dabs here and there. My investments are set up where if the stock market is doing poorly, the other investments make up for the losses. My investor is very wise and keeps me well-informed with upcoming trends, etc. so that we can make wise investment decisions. One kind of different investment I am currently involved in is the company Blackstone that handles mezzanine loans. Morgan Stanley offered some private investors a chance to become involved in this and the opportunity looks promising.
One bit of strong advice I have for anyone that has some money, be it some extra income earned, saved or inherited, is that you make wise use of it. My sister in law and and her husband inherited some money from his dad and didn’t set the money up to earn any income. They laid most of it down as a down payment for a building they bought for a company they started. They have since filed bankrupty and are really struggling to get by and live with his mother now. It’s sad to see them go from driving really expensive luxury cars and living in a beautiful home (also inherited) to having to foreclose on the home and have their vehicles and paychecks at their minimum wage jobs be garnished. I cringe at their situation and definitely keep in mind daily the “living within or even below your means” philosophy.
I believe the MOST important way to prepare and plan for whatever the future holds is to make sure that my relationship with God is current and ACTIVE (daily, hourly, yes, even minute by minute)! All the things you mentioned are great but they are all also temporal. I understand that you are focusing on this life and what may happen physically. We can not ignore that, we all must live, physically. I just want to add to all the great things you mentioned that, no matter what, we are all going to die at some point and if our eternal future is not secure and we have not made it a point to store up treasure in heaven then no amount of physical work on this earth will have ever mattered at all!! So, for me, while I garden, and we are debt free, and I am working at transitioning to a THM lifestyle, etc. that can not be my focus and where I spend so much of my time & energy (physically and even time in my thoughts). My goal, my focus, my very being must be wholly devoted to serving my God and Savior, Jesus Christ! “On the other hand, discipline yourself for the purpose of godliness; for bodily discipline is only of little profit, but godliness is profitable for all things, since it holds promise for the present life and [also] for the [life] to come. It is a trustworthy statement deserving full acceptance.” 1 Timothy 4:7b-9. (I love the whole chapter of 1 Timothy 4!)
If then you have been raised up with Christ, keep seeking the things above, where Christ is, seated at the right hand of God. Set your mind on the things above, not on the things that are on earth. For you have died and your life is hidden with Christ in God. Colossians 3:1-3
Do not be anxious then, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘With what shall we clothe ourselves?’ For all these things the Gentiles eagerly seek; for your heavenly Father knows that you need all these things. But seek first His kingdom and His righteousness; and all these things shall be added to you. Therefore do not be anxious for tomorrow; for tomorrow will care for itself. [Each] day has enough trouble of its own. Matthew 6:31-34
By the way, this is the first time I have commented on your blog. I just found it the other day looking for THM recipes. I really enjoy it! Thanks!