Are We Headed For The Biggest Market Crash of Our Generation? - Here's How To Prepare

Inflation near 10%, the rising cost of gas, war, a potential collapse in major housing markets - all of these post pandemic realities are playing out at once, many of which were brought on by measures taken during the pandemic.

Now, people around the world are wondering if our markets and economies can hold on, or whether we are headed for a major collapse. The truth is, no one can know for sure, and many people will have polar opposite opinions. But one thing I have been asked by many people over the last few months is "what are you doing to prepare for a potentially huge collapse?"

I have thought about this a lot. Mostly from a standpoint of wondering how I might choose to shift my personal financial situation to be as lean as possible for now. I already live rather efficiently, but can it be more efficient financially?

"There is a lot of peace that comes from feeling prepared. I try to address that feeling as best as I can, within reason."

Dr. Josee Bourget

I'm not one for fear porn of panic. But I am also realistic about what may be playing out and usually like to see others be as stable as possible through tricky times. Thus I always try to be prepared for more slow moving and tiered collapses brought on by rising prices, lower employment etc. Will all of this continue to happen? Tough to say but perhaps.

A group of us began talking about this subject in our private social network called Connect. (It's for subscribing members of The Pulse, if you want to learn more click here. It's a really supportive group.) We began exploring some possible concrete steps people can take to question whether they might be best prepared for a collapse or big financial crisis, and what grounded action they might be able to take now.

Keep in mind, this isn't about being overly doomsday, this is simply about having a look at what occurred during the 2008 financial collapse, for example, and asking "how can I prepare for that or worse?"

Note: prior to my work now, I was a licensed insurance and investment agent. I'm using some of my financial knowledge to help throw down some ideas.

"The rules of survival are as follows:  A person can live 3 days without water, 3 weeks without food & 3 months without shelter. Some elaborate and say 3 years without community."

Dr. Josee Bourget

Below is some of what we distilled as a group. Some of what is below is from Dr. Josee Bourget, a fellow community member in our group.

1. Working through any worry or panic that arises within this topic of collapse. 

I like to say this as a first things first. It can be one thing to have an intuitive nudge to get some of this in order, but it can be exhausting and counterproductive if it rises up into a sense of worry and panic. If you feel very unsettled, panicked or anxious about this, tackle that first so your mind can be clear to make good decisions moving forward. Some possible ideas to explore might be learning what options you have to better prepare, this simple step can give your mind the 'proof' that you're OK. Perhaps talking to someone about your worries can help too. Meditation, mindfulness, journaling can help as well.

I personally prefer work focused on building presence and embodiment. You can check that out here.

2. Get rid of as much debt as you can if you have any. If you do have debt, do you know what your debt free date is?

Credit card debts, lines of credit, school debt, car loans - anything that isn't your mortgage is what we are looking at here. These types of debt are often more expensive and revolving. This means they cost you a lot more in interest over time. How might you be able to consolidate debt? Can you re-work your monthly expenses to save more on things you don't really need and instead spend more paying down your debt?

One question that I always asked people was "do you know when you will be debt free?" Most say they have no clue. When I ran their current financial habits through a debt calculator they were often in shock to find out they will die before they are out of debt. Meaning they'll never even be able to retire. Using a calculator like this can be a helpful tool in finding out when you can be debt free.

3. Take stock of your expenses. Can anything be simplified? 

Building off of number 2 a bit, how many streaming services do you have? Do you need them all? The only thing you don't want to cancel is your membership that supports us here at Collective Evolution & The Pulse ;)

But seriously, do you buy needless things at the grocery store that are rather expensive and that you don't need? Can you drive a bit less? Maybe save money on takeout by planning your grocery store trips and meals a bit better? A bit of planning when it comes to everyday life can go a long way in saving money throughout the month.

Take a look at your monthly visa bill or the receipts for the month. If you're not sure how much you spend on each key category in life, it's a good idea to take a look.

4. Finding a way to save a bit of money so if something does happen, 3 months of expenses are stocked away.

If you happen to have some left over money each month, can you stock some of it away? One rule of thumb I've kept is that at the very least (when you have extra) can you have 3 months expenses in your account?

I know first hand this isn't always possible. But with the previous steps moving, sometimes you can find a bit extra to begin putting away.

5. Stocking up on non-perishable items & learning to grow food never hurts

See a can of beans on sale, buy a few. Or perhaps grab a few large bags of rice or dried beans. There are a number of items you can buy in little bits here and there to prepare for some potential food shortages or shipping issues that are ALREADY happening.

You don't have to go crazy, but grabbing enough to have a months worth of caloric intake for your family may be a good idea. With something like rice and beans, you can achieve great caloric density and both can be cooked very easily over fire if need be.

Don't forget to mix greens in there somehow ;)

If you can grow food in your backyard, in your house, on your balcony - anywhere, this can be a helpful skill to learn.

YouTube has tons of options to learn how to grow food in different scenarios. Check some out here.

6. Building community with others locally. 

Do you have any friends or neighbours that you could grow food together with? Perhaps share some resources or find creative ways to work together. Having access to a community that can help one another is always key. What might you be able to do to foster some of these relationships?

7. Are there ways you can make some extra income in a healthy way if need be?

Maybe it is posting that you have a couple hours a week on a local group on Nextdoor. Maybe it is looking for an odd job on Kijiji or Craigslist. Perhaps you can do something online like teaching english or some other similar service. An extra $100 a month can be a big deal, even if it is to stock away if things get bad.

A lot of times people simply believe it's not possible for them to make a bit extra, but there are a ton of low commitment and unconventional ways to make a little bit of extra money these days.

8. Cryptocurrency

This is a hugely debated topic for many reasons, particularily because much of the same old-world paradigms have infected the cryptocurrency space, pulling out greed, power moves and wealth hoarding as common happenings. For this reason, many feel crypto is not entirely a solution and I tend to agree.

However, crypto is built upon something that can be very helpful in a shorter term transition to a better world. And for those reasons I think it is good for now.

If you have some extra resources, it may not hurt to hold some stable coins like Bitcoin or Ethereum. I hold some, certainly not my life savings or anything, but enough that if things went south and these coins held as an option, I'm prepred.

Bonus ideas to think about: Do you have the ability to sustain off grid with the key essentials? If not, what would you need to do?

Here are some further thoughts on that subject:

Transportation – which becomes very limited in a world without cars. Good footwear and bicycles become very useful.

Water - where could you get it if you didn't have access to the grid?

Orientation – how would you know where you’re going if you decide to hit the road?

Exposure – depending on where you live, being able to keep warm enough can be a life or death concern.

First Aid – do you have medications you depend on? What other over-the-counter medications might you need? Perhaps a book could serve you well, when the internet is gone. . .

Skills/Bartering - what special skill do you have that could help keep a community grow from nothing and eventually thrive?+

Pets - do you have a critter or two who depend on you?

Dr. Josee Bourget

Continuing on the concept of the 'off-grid' idea, which I know many may not resonate with or be able to do, the following was written by Josee in our community. (Note, if you want to connect with a group of supportive and like minded people as we navigate these times, check out our membership. Aside from member benefits, all funds go towards funding our work. Learn more here.)

"The financial aspect is but one layer of the onion. If the economy crashes, then the fabric of technological society will evaporate with it, and living will return to something more like what our ancestors used to have. And if the Great Reset does take place, living off grid as much as possible would still be the best way to go, in my opinion. So learning to live off the grid as much as possible should serve a person one way or the other.

The rules of survival are as follows:  A person can live 3 days without water, 3 weeks without food & 3 months without shelter. Some elaborate and say 3 years without community, which makes sense to me. We generally take these aspects of living for granted because those needs are facilitated by our economy so long as we have money. We pay for running water in our homes; we can buy food every day if we care too; and having a home to go to is part of the Dream. So if money has no value, how do you ensure those needs are met? They tell us that if you give a woman a fish, you feed her for a day. If you teach her how to fish, you feed her for a lifetime. Come to think of it, I don’t have any provisions for me to fish should it come to that. But I know it does not need to be an elaborate rig. :)

Prepper websites are good sources of information to help prepare you for the worst with some very creative ideas. Just yesterday, I bought a book called “The Lost Superfoods”. In there are recipes and ideas on how to make nutritious foods that preserve without refrigeration. It is the kind of stuff that got humans through the Civil War, the Great Depression, saved Leningrad during the WW2 siege, helped Lewis and Clark succeed with their expedition, saved Europe during the Black Plague, etc. . .  It sounded very interesting from a historical point of view, but it seems rich with good life saving skills. There are many such books around.

I like to consider the possibility that I may be forced to go camping for a very long time . . . I also think of natural disasters to help me walk through what I would need to live another day. How would I go about making life comfortable and sustaining? Here in North Carolina, we have to be ready for hurricanes so many of us already have made some sort of preparations. 

Some of our technologies will endure a disaster, like solar power which didn’t exists during those historical events I mentioned above. I found a very interesting youtube channel called “Tribal Tendencies”. The guy lives totally off the grid and goes through a lot of trouble to share his experience. It gives ideas on how to improvise and live off the land; though the climate he is in is more favorable to survival then say, the tundra.

Think Defense, too. No one likes to envision a scenario where you are faced with a threat that demands deadly force, but that is also a very real threat to keep in mind. If you know a seasoned soldier, perhaps you could pick their brain. Contrary to some opinions, soldiers train to defend. They don't wish to kill unless absolutely necessary. Soldiers are also trained in the art of survival; to live another day in order to defend.

Perhaps researching what you find in a “Bug Out Kit” would be helpful, too.

There is a lot of peace that comes from feeling prepared. I try to address that feeling as best as I can, within reason."

Dr. Josee Bourget

Some Final Thoughts

Many things have been listed above that are practical steps able to be taken depending on our situation and needs. Don't overlook the first item which is learning to find calm and peace in your mind and body. The moment we lose that is the moment we begin to make worse decisions.

For the most part there isn't something that can be done to completely shield ourselves from a really bad financial crisis. But, in many ways it's something we all go through and thus a sense of community CAN be built through it.

I personally take many of the steps listed above to prepare all while accepting that it's OK that some level of uncertainty is being felt. I think to an extent that is normal, but it can also be helpful to explore it. Sit with the uncertainty, let it be in your body and ask the uncertainty questions. "How do you feel?" "What are you really looking for?" "How can I support you?" See if you can get a bit deeper on the emotions going on there, and note the more 'trauma-based' ones vs the basic primal instinct for survival.

This can be a bit tricky but nothing that can't be achieved with sitting with it a bit!