By Ross Powell
After a historically complacent August in the financial markets, we are now in a season of escalating unpredictability. This trend is particularly clear this year on multiple fronts. Volatility has picked up in stocks as mainstream investors wait on the Federal Reserve with baited breath. The presidential election – declared a foregone conclusion just a few short weeks ago – is now entirely up for grabs. Even the weather is participating in this trend. Texas has seen hurricanes, Oklahoma has seen earthquakes, and Louisiana has seen historic flooding. We are living in a moment of extreme uncertainty. But how can we prepare for the endless variety of scenarios that we can envision occurring in the coming months, and years?
It starts with the right attitude. Fear is immobilizing and cannot be a part of the equation. Easier said than done of course, but with actionable, productive steps that anyone can take along with outside the box thinking new habits can be formed that lead to this all-important lifestyle change. From a physical readiness standpoint, it is critical not to take on too massive a change all at once. If you haven’t lifted weights in a few years then you shouldn’t attempt a 300 pound bench press right away. The key is to take small, incremental steps and repeat them consistently. Every time you go to the store grab a case of water and a couple extra non-perishable food items. Every two weeks allocate a portion of your budget to purchasing silver that you hold, own, and control. Contact the team at Survival 401k if you have questions about taking delivery of physical silver.
The Radio Interview Episode 7: Ready Today, Ready for Tomorrow, Ready in Retirement
As these small tactical changes begin to add up to a shift in overall strategy, consider alternative ways to expand your flexibility and productivity. If you’ve ever wanted to learn a new skill, find a passion, or start your own business, then now is the time to initiate those projects. Expanding your abilities, knowledge, network, and resources is the best way to deal with uncertainty. The more you can do, the more prepared you are. Don’t ever forget that encountering obstacles and failing is normal and even necessary. The mindset of preparedness views low-stakes failure as a positive thing because it is a priceless learning experience and leads you closer to success.
Uncertainty looms, but never fear: take the right steps today and you will be prepared for tomorrow.
About Ross Powell, Survival401K.com
Ross Powell is the Founder of Survival 401k, LLC. Ross was raised in San Antonio and graduated from the University of Texas and is a veteran Naval Officer.
Ross worked in banking and finance for almost 30 years including some of the largest banks and insurance companies in the country. His intimate knowledge of the inner workings of financial institutions helps him direct clients into our Solo 401k product to take control of their retirement funds and escape the pitfalls many see in modern retirement portfolios. His knowledge and access to alternative investments outside of Wall Street has helped hundreds of entrepreneurs find predictable results by helping them segment their retirement plans into wealth preservation, growth and liquidity. An avid fan of being prepared for the unexpected, Ross also guides his clients in preparing their lives and portfolios for the changing world to make Wise Decisions in Perilous Times.