I often struggle with what time frame I should plan to prep for. By that I mean, what time horizon should I be looking at and what preps meet each time frame best. Here are my thoughts:
SHORT TERM: Short term prep risks are risks that are either brewing right now and which may “pop” at any moment OR unknown risks that pop unexpectedly but when they “pop” – they are immediate. Events brewing right now that concern me are: Iran/Israel – will this start WWIII?; the Economy – no need to explain this; flu pandemic – are foreign scientists using the new open source code for airborne bird flu?; terrorist attacks – I don’t believe they could knock out the US with their limited resources but could an attack cause a knee jerk reaction that sends us into a greatER depression? Unknown but immediate: asteroid strike, zombie outbreak (or other unknown viral outbreak); earthquake – I am in California!; serious terrorist attack which is possible enemy sponsored – i.e. sneeking a newly developed Iranian nuke into San Francisco, LA, NY or Chicago.
Prepping for the short-term. Basically, get whatever you can as soon as you can! Get beans, band aids and bullets. Get your basics to survive short to midterm events. Keep cash, these events will not cause the immediate dumping of the US currency as the defacto trade medium. I can’t stress food enough. FOOD – FOOD – FOOD… get the point? I will gladly trade you my nicest rifle, all my ammo, my firewood, flashlights, or whatever to keep my kids fed. I am willing to bet ANYONE would agree.
LONG-TERM: Long-term risks are those we see coming but seem so far off that there are easy to over look. The most serious issue in this category is the US and GLOBAL debt issues. When you think about our economy and how it is going – remember that almost 1 TRILLION (yes, with a “T”) of EXTRA money that shouldn’t be spent has been pumped in on an ANNUAL basis for the last 5 years! I am talking about the fact that the US spends 1 trillion more that it takes in every year. Eventually, the US will not be able to continue this spending spree and that spending will be reduced by a Trillion dollars. This will affect the economy – corporations will make less – people will lose more jobs. Basically when this happens – total financial Armageddon will reign. Sound crazy - I don’t think it is.
Prepping for Long Term – This is different prepping than guns, food, etc. You need land – land to provide for you and your family. You need to reduce debt and get cash and intangibles. You need to get skills that will provide money on the side in case you lose your job or to supplement your job with income to make ends meet. I recently started making my own beer. Sound silly? What do you think beer will sell for or trade for when you can’t buy it at the corner market anymore?
Consider purchasing rental real estate. Everyone has to live somewhere. Rental income is inflation and current event hedged income. Unless you have rent control you can set your rents to whatever the market will bear in terms of current dollar value. Is bread $1,000 a loaf? Then $100,000 a month in rent will be had. Purchase smaller condo or single family homes as they are cheaper and may be more valuable when times are tough.
When thinking long-term you must forego certain preps to save up for the longer term solutions. You can’t buy a ranch if every dollar you have goes to firearms! Think about it.
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JUST FOOD FOR THOUGHT.
PREP NOW – PREP HARD