However, preppers are particularly adept at planning for any outcome without descending into unending pessimism.
And when safeguarding against such disaster, preppers need to have a healthy stock of one commodity.
When diversifying a stock portfolio, precious metals can be a smart hedge against inflation or a more pronounced financial crisis.
During the 2008 recession, precious metal prices soared to all-time highs.
As a result of the volatile market, investors chose to move their money into more durable goods.
Precious metals can provide stability that other stocks don’t.
And unlike IRAs or T-bills, there’s no penalty for accessing precious metals.
Also, if all of your money is in paper currency during a financial meltdown, the bank may not let you access it.
For these reasons, silver is a good investment.
Silver can be particularly useful in a true economic collapse because of its long track record of worth and its practical applications.
The world will always need sturdy yet malleable metal like silver.
When purchasing silver, make sure to find a reputable dealer that sells high-quality material.
Doing your due diligence is very important.
Also, consider quantities in usable dominations, not just big bars.
A bar of silver might not be practical in terms of bartering, so smaller amounts may be ideal.
This, of course, is just for the silver that’s deliverable.
If you’re just looking to silver as a parking spot for your investment, you’ll never need to physically see it.
It could be ideal to invest in silver in both regards; hold some as a hedge against inflation, and have some for a practical form of currency in the face of a large-scale collapse.
Also, if you’re gathering silver as currency, don’t feel the need to stockpile all at once.
It makes sense to buy it piecemeal, so you get familiar with the process of purchasing, and feeling out if you’re working with a reputable dealer you can trust.
It’s obviously not pleasant to think about, but financial collapse has to be in the back of the minds of all preppers.
Barack Obama’s economic interventions led to the slowest recovery in years, and his short-term measures merely served as a band-aid.
Donald Trump’s tax cuts, deregulation, and infusion of business confidence have allowed the stock mart to shoot up, but it’s very likely that a market correction is on the horizon.
The market is overpriced in some sectors, and the bond yield curve favors short-term investments over long-term, which usually signals an impending market event.
Make sure you’re protected, so a market crash doesn’t sap your immediate investment goals.
If you’re a patient investor, your portfolio should be fine over the long haul, but if you’re on the cusp of retirement, it’s a smart idea to protect some of your retirement nest egg in precious metals.
And if a truly frightening civilizational collapse occurs, silver will absolutely come in handy to help you navigate the crisis.