There’s more to financial security than owning some gold and silver bullion. You should absolutely buy gold and silver — I currently put over 10% of my income every month into the metals. But that’s not all you should do — you have to be pro-active in other arenas.
Financial security isn’t just about money. After all, the reason we have money is so we can buy stuff — food, shelter, possessions, electricity, etc. The key to financial security is to set yourself up so that you can acquire and consume those things regardless of what happens to the economy or your community.
Here are some thoughts on achieving financial and physical security:
- Emergency Fund. Make sure you have plenty of money in your emergency fund. If we have a currency collapse, this obviously isn’t going to be very useful, but it’s vital in every other emergency situation — natural and social disasters, for example.
- Silver is Essential. Gold is great for storing large amounts of wealth. Silver, however, is great for simpler daily transactions. If something happens and we at least partially resort back to physical currency, having silver on hand is vitally important.
- Basic Resources. Make sure you have plenty of food and water. 20-30 gallons of water isn’t going to be that expensive, but can at least provide you with a little time to acquire a new water source if things go sour. If money is a problem, getting some from the tap is an even cheaper route to go.
- Be Prepared. Make sure you have tools and basic weapons in your possession. Having the ability to defend your home if chaos hits is pretty important. If the economy collapses, spoiled Westerners won’t be afraid to kill and rob their way through survival. It’s only natural to expect.
In the end, being prepared is important to being financially secure. If you suddenly find yourself without food, water, or electricity, then having all the gold in the world won’t be much use because no one will trade their only food for precious metals. Remember — gold and silver are important, but they’re only the first step.
If you have any other ideas for financial security and disaster preparedness, make sure to email them to me.
Tags: financial security, gold