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Economically, how can concerned Americans prepare for the worst? (lemmy.ml)

submitted 1 day ago by [email protected] to c/[email protected]

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I do not want this to be a political debate nor an opportunity to post recent headlines. However, in my opinion, this administration seems to be taking actions which history suggests may lead towards a near or total economic collapse. Whether you agree with this or not is irrelevant.

This post’s question is: If one were to have a concern that they’d no longer be able to afford common household goods or that mainstream (S&P, Nasdaq) financial investments were no longer sound, what can one do to prepare for “the worst”? What actions could someone take today to minimize economic hardship in the future?

I would also like thoughtful insight from older adults to offer younger adults about how they should be better preparing themselves for an uncertain future, outside of current events or place of residence.

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[–] [email protected] 11 points 1 day ago

I’m going to say a few things about food and also assuming prices will go up and not quite reach an economic collapse:

Secure your food, learn to prepare cheaper, more plentiful foods in a way that is tasty to you (look to rice and beans). Consider purchasing or creating emergency food reserves. Consider purchasing more canned foods which can last for years. If you have freezer space, consider vacuum sealing food to keep them for longer.

Generally, look for ways to reduce extraneous cost and rely more on yourself and your immediate community. (This will be difficult to do, no mistaking it)