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There are different gradations of prep.
Non perishable food is great. A water backup plan or some life straws are great.
A more expensive luxury backup for electricity would be a portable power bank like Jackery and some solar panels with it.
And don't the second amendement always comes in handy.
Doomsday prepping is the answer. Start building up a large supply of non-perishable foods, properly sealed for long term storage.
Have a wide variety of different food storage options. Having nothing to eat but rice will drive you insane (that's not hyperbole, it's serious).
Not just food storage, have tons of medical and hygeine priducts stored up as well. Things like toilet paper, toothpaste, wet wipes, ibuprophin, tums, etc. Assume there will be no stores or money in the future, plan acordingly.
Have all of your important documents in paper form. Keep all contact information, passwords, addresses, phone numbers, emails, and other important info on physical paper. There's a strong possibility the internet will go down for a long period of time.
If possible, download Kiwik. Within the software, you can download all of wikipedia so that you have an accessable offline copy. It's about 125gb in size.
Start downloading stuff you don't want to lose. If you have a youtuve video ripper, start ripping videos on how to do things like repair your own car and other repair tutorials. Download videos and tutorials on how to cook if you don't already know how. Also how to start and maintain a veggie garden.
Have a plan for the electric grid going down for a long period of time. Folding solar panels are a great way to keep phones and battery banks charged.
I could go on all day, but basucally you should prepare for a total government collapse. Internet, electricity, plumbing, trash removal, hospitals, police & fire rescue, depletion of groceries and store goods, etc. I have do doubt we'll see these things either partially or completely collapse and fail.
Just don't take out your paperwork and you are guranteed free passage to a better country when ICE raids your neighbourhood!
For anyone that wants it, here's a local copy of this page with all the replies included: https://mega.nz/file/2IdilIiI#cprrG2E58S1Wg2kp5YNEjfLMBh1hPHiQzuWMpsXI3dk
That was incredibly kind and useful thing to do for us. Thank you.
Don't spend on anything besided essentials, keep an eye on the news to see if any of the long running institutions Americans use to save their money are being sacked and take your money out accordingly.
The less individuals contribute to the economy the worse the effects of this administration will show.
We can't lol
Find books written about farming/saving during ww2. Get a freezer and a canner. Stock up on beans/rice/etc (long shelf life foods). Save bones from meat, boil them for 6 hours, then let fool and strain them. Can/freeze the broth (I put mine in quart freezer bags flattened out in the freezer). One quart added to 1qt water is filled with nutes for soups and such. If you have a fireplace, keep a bag of dryer lint for kindling. Buy heirloom seeds, learn how to save seeds (Whenever I grow green beans I always have 100+ dried pods in autumn as I usually only have enough to harvest 2x with any real quantity. Each dried pod has at least 4 beans). Buy things you need now that tariffs will affect the most (electronics, coffee, etc.) Start learning how to fix things yourself, get basic tools (drill, hammers, driver sets, wrenches, etc). Fix car problems now, before parts go up. If you know ANYONE still alive now from the 30s to 40s, pick their brains on what they did. Also, get books on identifying plants. Sorrel is awesome to add to food for flavor, dandelions are a good source of Vit C... my knowledge is limited, but so far that's what I've tried (do NOT eat roots of dandelion).
Buy gold, keep cash on a safe at home, make sure all documents are current and aren't about to expire (in case you need to quickly leave the country). Prioritize essential purchases over luxury ones and if short on cash pay those over debt payments
What do you want to do with gold or USD if the us economy collapses? This isn't the middle Ages where you can pay the peasants with gold or silver coins. In an economic collapse canned food, fuel, etc. will be useful. Something people need every day and can be swapped in small quantities.
Gold because regardless of the US economy, gold will still be something worth trading, it is also easier to carry than necessities and can be used as improvised currency with a more stable value over basic necessities. For basic goods, you have to always watch out sine you A. Use them yourself, and B. Everyone needs them but may not give them the same value necessarily.
But who wants to trade gold with you if everyone is hungry, has no water or power, is freezing or sick? Gold and valuables are only good of you know the economy gets back to normal, or you have someone who will trade useful stuff for gold.
Also, I don't think the average person has a concept how much gold is worth, or how to check if it is real or not.
You can't. Ride the wave. If the market tumbles, everyone will suffer. Which is most likely what they want anyway, because a hungry population is much more easier to control.
Finance-wise, have an emergency fund and well-diversified portfolio. This is not financial advice, and I'm not a professional, but this is what I'd do with retirement funds and personal stock accounts:
Emergency fund: if you already have this handled, then look at your investments. If you dont have an emergency fund, do everything you can to save up at least 3-6months of living expenses - ideally in a high-yield savings account to protect your money from inflation.
US stocks: Don't be over-exposed to US stocks, especially riskier ones. Historically, bonds and foreign stocks have been recommended to balance your portfolio, but many people have ignored that in recent years due to the dominance of US large-cap stocks, especially the tech sector. Ensure you're diversified in accordance with your risk tolerance/retirement time-horizon.
Non-US Stocks: It would be good to have a non-US ETF or index fund with developing and emerging markets. It may not perform as well, but can potentially hedge against US market volatility. The counterpoint here is that US stocks are globally interconnected enough that getting non-US stocks would overexpose you to that part of the market. Caveat emptor, do research.
Bonds: bond ETFs/funds, I-bonds (inflation protected securities, you can buy $10k per year), and automated bond ladders can give you steady returns. Remember buying bonds directly is fairly illiquid - your money will be stuck in the bond for the duration of the bond's term.
Cash: Inflation isn't crazy right now. Probably wouldn't be bad to have more cash than normal sitting in high-yield accounts (earning around 4% APY right now) since the market is likely to dip. Maybe consider liquidating some investments that are riskier than you'd like. I wouldn't really advocate trying to time the market, but also it doesn't seem like a bad time to be a little heavier on cash imo.
Check out Boglehead 3 fund portfolios and their variations. Imo it is time to be safe and boring. If you have a long time until retirement, don't panic - ride it out and consider rebalancing your portfolio to the standard, oft-recommended asset mixes. If your retirement timeline is short, make sure that you aren't over-exposed to risky investments like stocks.
If we're really going full warlord-rule society ("the worst"), names on a domestic account at some institution are worthless. Wax for the scraping. Bonds, bank accounts, stocks, all of it. Cash gets devalued by inflation. That leaves you with foreign accounts, goods, metals, crypto. #1 and #4, assuming you have electricity to access/move them.
Things won't get to that point, most likely. Things can get really bad and still recover. If it's an apocalyptic scenario, better invest in a stock of bullets and a bunker.
I disagree. A sated population is far easier to control. Hungry populations become desperate and have little to lose. Americans are sated and comfortable which is why we have allowed this to happen.
The french revolution has entered the chat
That's what you would think. Like hungry people would protest or take action. But that's not how it plays out. When everyone is so busy with getting by and staying alive, nobody cares about any atrocities committed by the higher ups. I've seen many countries where the people simply ignore the craziest things their governments say or do.
You're not wrong. We are seeing that exact scenario play out right now. We can agree on one thing. We are all fucked.
A hungry population is easier to direct in violence. Tell them who the enemy is, who the reason for their problems is, and they will focus on that hatred and prejudice. Blame others for the problems.
Thatβs what the republicans have been doing, and they will continue to do it.
Thatβs the kind of control I think the commenter meant.
Right now weβre easy to control because weβre afraid to lose what weβve got.
IMO, there are three "levels" of economic hardship:
The last time the US experienced the second level was the Great Depression, where during the depths of the dust bowl and the depression, unemployment hit about 25%
If you genuinely think we are in for anything worse than level 2, you should flee the country now, or buy a gun and stockpile ammunition, food, and medicine.
Realistically, level 3 isn't going to happen. Level 1 very likely will, level 2 I would give a 5% chance personally, but that is based only on vibes.
Have some savings in cash, a few hundred bucks mostly in small denominations should be alright. Don't do more than that.
Buy cheap bulk foods. Beans, chickpeas, lentils, raw oats, rice, four, potatoes. Buy several of those big 24 packs of bottled water. Most large retailers have them for 4-6 bucks a pack. You need A least 5-6 bottles a day to stay minimally hydrated. That's roughly 4 days of water per 24-pack. You should have at least a week of water per person.
Other folks here have good advice. Connect with a local community. If not your direct neighbors, then a group that meets nearby. You need other people for support. If you're in a really bad place, they will be the last line of dependable aid.
Quit your vices. Cigs, alcohol, excessive caffeine, and junk food all cost a lot of money, aren't healthy, and will make you much more vulnerable to economic upsets. It also allows others to take easier advantage of you, because of your desperation to get a fix.
I honestly don't really know, but i can guess.
Stock on basic food items, maybe enough for a year or more (including noodles, rice).
Maybe, if you can afford the space/time for it, learn how to grow some basic vegetables on your balcony/garden, to go along with the calories.
That is all i can do. Maybe, also look into viable long-term accomodations in case you lose your house/apartment. Could be homeless shelters, could be sanctuaries, idk.
potatoes can keep your ass alive and can dead ass be grown in buckets and sacks and basically anywhere tbh. They're not picky plants, either. Just watch a couple YouTube videos to get your bearings, go buy a couple potatoes from the grocery store, and plant those bitches. You're probably going to want to try and get potatoes that haven't been treated to keep them from sprouting, or else give them a good scrub and let them sit on the windowsill till they start sprouting. You could also go and buy seed potatoes, but that's really not needed and it's a higher up front cost. Plant them literally anywhere; heavy clay soil, shade, use whatever you have; potatoes have preferences but they don't really give that much of a fuck. Plant some french marigolds alongside for a good edible flower that will help control the pests that like munching on potatoes.
Learn to Forage this one takes some time, dedication, caution, and research, but you would be absolutely blown away just how much you're surrounded by edible weeds and unrecognized fruit trees. Get in the habit of identifying the plants that you see (plant net is a helpful tool) around you, learning about them, and spotting them elsewhere as you go through life. See someone's fruit tree bearing fruit? I can just about promise that if you go and ask them nicely, they would be absolutely grateful for someone to take all that fruit away before it becomes a mess they have to clean up. Make sure you show your gratitude if that's the case, whatever that looks like for you; for me, it'd be leaving them some of the picked fruit or bringing some of the jam that I made from it.
Ditch the car if you can. Shit's expensive, yo. Especially if you live in a city, a bicycle, e-bike, or motorcycle can do most of what you need out of a car most of the time if you get creative.
Skill up start learning the simple stuff- how to patch and darn tears in your clothes, how to cook on a budget (there's great depression cookbooks around that are pretty good), how to repair and service stuff, how to jam and can your leftovers, how to entertain yourself cheap with card and dice games or drawing, and a really huge underrated one is how to talk to other people. If you're terrible at dealing with other people, get to fucking work on it yesterday and thank me later. I found the book Verbal Judo to be enormously helpful.
NETWORK bring small gifts to your neighbors when you can, share your good fortune with them, ask them how you can help, start getting involved in the lives of the people around you and get to know them. If you don't have some kind of regular meeting you go to with otherwise unrelated folks, find one. This is a way to build resilience, because there's going to be times where things aren't so rough for you, and times where things are extra rough. That's true for everyone. If you have other people who can lean on you and you can lean on, we can all help smooth out each other's journeys through the downturn.
Don't be afraid to get ghetto. Do what you've got to do. Summer's hot, man, go ahead and put foil on cardboard and put that shit in your windows. Winter's fucking cold; it's easier and cheaper to heat small spaces than big spaces, just don't catch your shit on fire or give yourself CO poisoning (NO combustion indoors, that includes using a kitchen stove for heat! Make sure the heater is completely by itself on a non-flammable surface). You can't eat a lawn; fuck that grass, plant potatoes, onions, and marigolds. Will some people find it impossible to mind their own goddamn business? Certainly, but it's a small price to pay for surviving. Need a coat? Go to Goodwill, go to a garage sale, shit, ask your neighbors if they have one they don't want anymore. Don't be above asking for help. Don't be a fucking thief, but keep your eyes open for opportunities; people throw all kinds of good shit away all the time, even during downturns. If something breaks, prioritize whether it needs to be fixed now, patched now, or if it just has to wait; if it's just about keeping up appearances, it can wait.
Start prepping now set aside an emergency stash of:
Cash (my rule of thumb for rock bottom minimum is ~$100/person). This is cash for absolute emergencies, treat it as a non-renewable resource. I would say not to use it trying to stay in your mortgage even though you don't have a plan for the month after that.
Food: brown rice, dry beans, macaroni (whole grain is best), and bulk powdered potatoes will get you a long way. Learn to use these ingredients before you actually depend on them, and have a bulk supply on hand. Also, set aside some salt and pepper to keep you from completely losing your fucking mind. Each of these individual things can really help you stretch your meals or tie together a few other random ingredients into something edible. They're not a complete nutrition source on their own, but they'll just about keep your ass alive. Add to your food stash as you see fit, but try to keep it cheap, flexible, and durable.
Medicine: prescription and OTC. Needing Tylenol for your kids (or worse, Albuterol), or Imodium or ibuprofen for you, and not being able to get it is a super dog shit feeling. I'd say set aside three times as much as you think you need for the stuff that they don't sell in bulk, and twice as much for the stuff they do sell in bulk.
Luxuries: if you like coffee, set aside a couple containers of it. It doesn't have to be great; Folgers will rock your fucking world once you've been without coffee long enough. Same deal with chocolate, dehydrated fruit, or candy. Basically, give yourself something to look forward to once in a while.
This is hardly a comprehensive list, you know your own unique needs and situation better than I do, and there's going to be other better or worse advice for that here. Go with what fits for you.
I hate to say it, but things get worse than you think in a downturn. Lots of people get depressed and blame themselves for what's happening. Please remember that the way you feel isn't the way you're always going to feel. Shit sucks, and everything is temporary.
Sigh, openinsulin.org really needs to make faster progress.
https://fourthievesvinegar.org/ If your forced to find a solution.
Good stuff, thanks. Tricky problem to solve, generally speaking π
Yes I have a couple friends that can't live without it, so we have had convos. It's better to go to Walmart and get the very cheap stuff, but your going to die without it...
Felt that I should add a few notes:
Storing a small supply of luxury items for trade or making friends may be a good idea. Don't set aside so much that you make yourself into a mark, just a small amount, maybe no more than a grocery bag full. Tobacco, booze, coffee, weed if it's legal, and chocolate are all going to be big hits with a lot of folks, but you know your area better than I do and maybe you'd be better off having a special cheese stash or something. Use your best judgement. Get into this stash when you need a little something to make or sweeten a trade, or when you'd like to make nice with someone (pro-tip, give gifts with no expectations of reciprocity, but if it's offered, don't refuse. Instead of refusing, try to see that it doesn't feel like the exchange of gifts wasn't completely square. Not so much that someone feels ripped off, but enough that the transaction doesn't feel complete. It's a narrow window to thread, and just accept the exchange graciously if you can't hit it).
If you're worried about keeping your food garden low-key, there's a number of plants that can pass as ornamentals that, while not staple crops, will still feed you. Right out the gate, pumpkins are, imo, really able to walk the line between ornamental and food. Corn can go with pumpkins here if you can pull off the fall aesthetic. Going into less conventional food sources, you can put clover, chives, and spring onions into your front yard and they probably won't be meaningfully distinguishable unless you've got some HOA dorks up your ass. There's also a number of clump grasses that will 100% pass as ornamentals but will also feed you. Look into the grasses that the native Americans depended on in your area; they're a little too region specific and too many to get into here, IME. There's also a pretty good selection of trees and herbs that can be treated as ornamentals, but will also keep you fed. Blueberries spring to mind, in particular, as their foliage is very handsome imo.
Depending on where you are sweet potatoes are often grown as an ornamental vine but the tubers are literally what you eat. You can grow them in the ground or in pots (I recommend pots so it's easier to harvest, ymmv). Tomatos, blueberries, herbs, sunflowers, and strawberries are probably pretty easy to get away with too as long as you keep them organized looking.
If you don't have an HOA and you live in its native range, central north america, the sunchoke is a crazy good source of food. Honestly too crazy, once you start growing it, it'll be there forever and it'll try to take over everything, but you'll have the food there buried waiting for you year round. You can also grow it in pots, just be careful with the tubers and the soil, they will seriously spread out of control.
Great advice! How did I forget sweet potato?! I've heard that all parts of the plant are edible as well, though I've yet to confirm it. Another salad green you can grow as an ornamental is nasturtium, but do so with caution, as I've read that it draws in pests.
From my viewpoint, Trump is and will be causing social hardship much more than economic hardship.
I could possibly see a benefit in preparing for a harder times socially. Further division among neighbors might be the main casualty of this administration. Social cohesion is already struggling from his first four years.
Economically, I have no confidence in Trump's actions overall, but I am very confident that his massive ego determines his actions, and that ego is largely held up by the performance of the stock market. He will be very careful not to take any action that will rattle the markets too much. Whenever he see a negative reaction in the markets, he pulls back, claims a moral victory and moves on to the next thing.
I've been asking myself that question for years. My wife and I thought the best solution for us was to leave the country. We don't have a good outlook for the future of the US. We moved to Germany last spring and have been enjoying a healthier and better quality of life. It's not easy but it is very rewarding. The cost of living here is less than half of what we were paying in the US. Groceries, rent, utilities, insurance, everything is cheaper except eating out at restaurants (that costs pretty much the same). For what it's worth, we moved from Denver to Frankfurt.
My condolences for moving to Crackfurt.
Haha. I read that a lot, but it's honestly not so bad as long as you stay away from the Hauptbahnhof. That area is truly awful.
Take out tons of credit cards, loans etc and max them out with no intention of paying any of it back. Burn it to the ground.
I'm old enough to have lived through several recessions, though I was poor for the first couple of them. I think a recession more likely than a collapse. If it's a recession:
If you can keep your job you will be ok, really. Try to keep your job if you can. Yes even if they do temporary pay cuts.
If you've been unable to buy a house, a recession may make it possible. That is how we got our first house - prices tanked, we got a run down house, couldn't improve it really but it was a place to live for a long time, and when you buy in a crash, taxes stay low here.
Remember there have been worse times and you are descended mostly from people who survived them.
Be nice to people. Always be nice on your way up, because what comes up must come down. We used to have to dumpster dive, and I have lived on the streets and in a car, don't want to again, at all, but there are plenty of less extreme tactics - live with more people in one house, we used to have one family in each bedroom, not one person, and that makes housing cost so much easier.
#1 is really the most important though - if you can keep a job you will be ok. If that falls through, do not think you are on your own, reach out to others and work together.
Remember there have been worse times and you are descended mostly from people who survived them.
I love this
Spend some time learning to fix everything. EVERYTHING. Knowing a little bit of plumbing, electronic repair, woodwork, carpentry, and cad can save you tremendous amounts of money. Contractors cost crazy amounts of Money, even for simple fixes.
Yoy dont even need to practice, just read up on it. Recently my sink started leaking, so I though I'd just mess with it. Fixed it with 30$ worth of parts. Dishwasher broke and I fixed it with a 70$ PSU.
Dont learn how to do oil changes though, most of the time it won't save you any money. Autoshops save a lot of money with volume oil changes.
Woodworking is a hobby that can pay for itself, and yoy dont even have to sell anything. Wood is everywhere, and free. You have to wait months for it to dry but afterwards you can make anything.
Ive made spatulas, spoons, snack clips, furniture, tools, storage, cabinets, bookmarks, bowls, cutting boards, knife covers, drying racks, shelves, etc. It gives you a level of self sufficiency that can never be taken from you. It shouldn't even be called woodworking, it should just be called "making shit". It's an extremely useful and valuable skill. Ive even used it to fix computers by making custom brackets and stuff, and a special heatsink mount for an old heatsink.
A lot of good advice on this thread, particularly the emphasis on social connections and food. Given OP asked to assume near or total economic collapse though:
Some people advocated building up money savings. If you are convinced there will be runaway inflation (part of what I assume is meant by collapse) then this is exactly wrong. The thing to do would be to convert as much money as possible into durable goods while the money still has any value. Look into the history of prior examples like the collapse of the deutsche mark in 1922, and the rush on payday to buy necessities immediately.
Gold is also being suggested. If your threat model includes social collapse gold won't do you much good. Gold has financial value but no use value for individuals (it is useful industrially, but not in a way you can take advantage of). Unless you're planning to run, bulkier but more immediately useful goods like food and tools are likely to hold more value. When everyone's starving, a baseball bat to guard it with is worth more than a lump of shiny but useless metal.
If you aren't assuming social collapse, foreign currency is another option. Be careful, because you want to pick one that is not likely to track your local currency and fall together. The advantage here is that when your local currency stabilizes, the value of gold will drop quickly and it will be very hard to guess exactly the right time to cash out. Foreign currencies won't have that same crash effect.
All that said, don't jump into action out of panic. Take time to think it through calmly - collapse is probably not coming in the next week or two. The actions that will save you financially in a collapse can destroy you if that collapse doesn't come. Make a plan for what to do if you're wrong to avoid shooting yourself in the foot (or, as many people do after that kind of mistake, the head).