Forty years of experience tells me to protect my family today
- Serious Money Ohio
- Mar 7, 2022
- 1 min read
There is a lot of scary uncertainty and appropriate anxiety pressing down on all sides today.
Russia's invasion of Ukraine is something I thought I would never see again in my lifetime.
We live in dangerous, Cold war era type times again.
We need to be prepared for a change in how we protect our families today, how we plan for our futures, and how we treat our fellow Americans.
Protecting our families will mean higher prices over the next few years as we use do what we can to cripple Russia. We can't engage them in battle, but we can make the cost of war unbearable to them.
We need to destroy their economy.
Cutting Russia off from selling their oil will do just that.
But the loss of their oil production will surely drive gasoline and all fuels higher in price. At one time today a barrel of sold for over $135. A near 50% increase in a month. Plan on $5 gasoline sometime soon.
When I see the images from Ukraine, I'm ready to rearrange my budget to help these brave people.
Protecting our family also means being ready for contingences we once thought were far-fetched. We need to be prepared for a technological Pearl Harbor from Russian hackers.
Have cash on hand. Consider owning a small amount of physical silver and gold. Keep one car's gas tank always full. Prescriptions in reserve. Food with high energy value on hand. Battery back-ups. Lots of water.
FEMA and other disaster prep websites have terrific checklists, so you don't miss something important to your family. Attached are the two checklists I use- one is specifically for your financial and insurance records.
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