When The Next Collapse Occurs, Prepare...But Don't Panic

in economy •  3 years ago  (edited)

When The Next Collapse Occurs, Prepare...But Don't Panic

People have been talking about collapses throughout the centuries. And every time there has been a major collapse, in our history, we've gotten ourselves out of it. I honestly doubt there will be such a major collapse that we will need to store large amounts of food, water, and other supplies. Maybe a little, but no need to create a bug-out shelter and wait for doom.

The Shift in Money

One thing that occurs during a collapse is the adjustment of money and where it goes. Billionaires and Millionaires are created during these times. Which is why you should be saving what you can in case there is a collapse. Be ready to invest when the stocks or crypto goes down.

The price of goods and services will be much cheaper during that time. Maybe buy a house or a boat. No need to go out a spend your money right now. The people selling you those wacky products will do the smart move and save the money you just gave them.

When Opportunity Knocks, You Need to Answer the Phone Or Take Action

Imagine if you had the opportunity to go back in time and put down a large some of money on March 06, 2009 when the Dow was at 6626 and when everyone was panicking. Some people did. I think it would be a safe bet, that those smart investors, who saw that opportunity to take action, took advantage of it. I am sure they are doing very well for themselves right now.

Here is a little side story I would like to tell you.

I have a family member who took action regarding something he heard developing in Real Estate. He made some calls and nothing really developed. Long story short, he got a call and spoke to a guy that needed help flipping a property. He took action and now, five years later, he has a good business flipping houses.

If he had not taken that opportunity to pick up the phone, he probably would not have his business today. History is filled with examples of people accepting issues during a collapse and taking advantage of it.

History Is Filled With Examples

During the depression a family survived by making five cent cakes for folks who couldn't afford expensive meals. They sold them out of their car and made a business out it. This family is called the McKee family and the business later became known as Little Debbie Cream Pies.

Another example, two brothers began crushing grapes in their shed in California. They keep the product cheap at $.50 cents which was priced 50% below the market value. It quickly grew in popularity and their wine is still being sold today. The company is now the world's largest wine maker and is called E. & J. Gallo Winery.

Another gentleman was an inventor and created the frozen French Fry due to a freezing process he invented. His company supplies a third of the United States with French fries including McDonald's. His name was J.R. Simplot and his company is worth 8 billion.

This is only three of the hundreds if not thousands of people that had the smarts to see through the panic and create wealth for their family and friends.

Prepare but Don't Panic

Talking about collapses and how they develop is very healthy. I try to read anything that comes my way regarding the topic. Yet, I'm not reading to develop a sense of panic and urgency to buy survival gear. Instead, I'm looking for ways to weather the incoming storm. I'm reading and developing ways I can create wealth for my family and friends.

Image Source: upload.wikimedia.org & pixabay.com

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This is a great article. I have been banging on about this problem for over 12 months and my message is just getting through..!! Was happy to share this on Twitter at stephenpkendal. Stephen.

There was this saying that opportunity only knock once.