7 things you can do right now to protect yourself:

1. Protect Your Wealth

The first rule of investing is: Don’t lose your capital. And the second rule is: Only take on risk when the odds are stacked in your favor so that you have a good chance of making money. A 50% loss requires a 100% gain just to get back to even, and 100% gains are very hard to come by.

• The bond market just had its worst six months in history. The stock market was the worst in 62 years. The real estate market is in the early stage of recession.
• We’re in a bear market, and in bear markets everyone loses, in great bear markets (where we’re headed) most everyone goes broke.
• The asset and credit bubble of the last 30 years is over, and people need to change their way of thinking back to periods when asset values were in steep decline.

Protecting Your Wealth

2. Get out of debt

In a bear market there’s no quicker way to go broke than having too much debt. While the value of your assets and income go down, your debt and payments stay the same, and you end up owing more than you own.

A friend of mine was a small home builder that had done well for himself building one or two homes at a time and selling them. He decided it was time to step up and build a half dozen homes at one time and he got the bank to finance him. Timing is everything and his timing couldn’t have been worse.

The demand for homes had been strong for years, but when he broke ground and had begun construction the market collapsed. Pretty soon no one was buying homes and he couldn’t make the payments to the bank. After struggling for a couple of years they foreclosed on his loan. He lost his house and went broke at age fifty-five.

Safety: That’s the Name of the Game – Camano Safe Future Group

3. Reduce risk

Getting out of debt is the top way to reduce risk, even if you have to sell assets. It took 25 years for the markets to get back to where they were in 1929, and this depression is going to be the greatest depression since the founding of America.

“Cash is Trash”

The financial industry has preached for thirty years that “Cash is Trash”. It’s been a nifty way of getting you to buy financial assets. They say “Buy when markets are going down, you don’t want to miss the next bull market, and when markets are going up, keep buying, cash is trash. But they’re wrong.

Fact: Safe Cash (US Treasury Bills) has way outperformed stocks and bonds in 2022 and 2023 and will continue to do so. Cash is starting to outperform real estate and the trend is about to accelerate.

Make sure your money is in one of the safest banks or in short term treasury bills. It’s no longer about the rate of return on your capital, it’s about the return of it. Safe cash is OK for now, but it won’t be safe in the long term.

There is no fiduciary, quasi-fiduciary, or special relationship between you and your bank.

Few depositors understand this relationship. They think they have placed their hard-earned funds inside a safekeeping institution. That is not the case.

The FDIC promises to cover deposits in case a bank fails, but it can’t cover everyone if the system fails.

Have some cash on hand before the banking system collapses. This is not 2000 or 2008 where you could ride it out, it’s 1929, and the buy and hold, and buy more strategy will break you.

https://www.elliottwave.com/ElliottWaveTV/Heres-What-to-Expect-Over-the-Coming-Months

4. Become your own financial advisor by learning who to listen to and who not to.

When I was thirteen, my father, an active investor, took me to one of the brokerage firms where he had an account. After our visit I asked him, “If investing in stocks is such a good way to make money, how come all those brokers aren’t rich?” I never forgot his answer: “Son, none of those fellows own stocks”. I later learned that he never used a broker (financial planner) for advice; always did his own research and always made his own decisions…all the way into his eighties.

We all are much too quick to accept someone else as some kind of expert because they sound like they know what they’re talking about.

You wouldn’t hire a car salesman to build you a race car, would you? I know I wouldn’t. And why is that? Well, that car salesman can talk a great game about what’s under the hood and what makes a car special, but if I ask him to put one together he’d think I was crazy! But that’s what we’re doing when we hire a broker or financial planner. They may sound like they know what they’re talking about, but just like the car salesman, the only thing they know is how to make money by selling you financial products, not how to make you money.

With the risks greater than at any other time in our lives you can’t afford to be listening to the wrong people. Not only is your wealth at risk, but so is your family’s health and safety.

Do You Want to Anticipate the Future

5. Protect Your Safety

Have a safe place to go. 80% of the population lives in or around a metropolitan area. As bad as major cities have become, when the system collapses, it will be everyone for themselves. Law enforcement, food, and maybe water or power will be mostly gone or all gone.

Alarms and security systems won’t help. When people go into survival mode they don’t care about laws or right & wrong. They will storm your shelter, steal your food, and harm you whether you resist or not.

If people can get to you on foot you won’t be safe. Learn what you need to do to protect yourself before it is too late.

6. Protect your Health.

The best treatment for any disease is to not get it. And the best way to not get it is to have a strong healthy immune system. That’s the best defense against all diseases. Studies have proven that stress is the leading cause of our immune systems failing to protect us. We can teach you how to control and defend against stress and fear as well as how to strengthen your immune system.

7. Overcome the Normalcy Bias

The problem with most people is that they don’t believe something can happen, unless it already has. It’s not stupidity or weakness, it’s just human nature.

M. Brooks

Taking action to protect yourself is the best defense against fear and stress. While everyone else is panicking you’ll have the piece of mind that comes with knowing you’re fully prepared and can deal with any new problems rationally.