Ever since the results of the referendum on Brexit have known, the stock markets in much of the world have lost value. This is a paper loss of billions of dollars according to some sources. Shares of Bank of America and Morgan Stanley plummeted by 13% apiece in the two days after the shocking Brexit vote. Even though banks and the broader markets are rallying on Tuesday, Goldman Sachs is still down 22% this year. So how do you go about protecting your family finances?
Well first of all, please understand that I am not a financial or investment advisor. I am just an old man who has observed the world for the last 70 years. Now over the next few months expect that Brexit will cause some severe disruptions in the world’s economy. I believe that Brexit is best decision that Britain could have made. However, the globalists will try to blame it for financial disruption that they will cause. They will do everything they can to manipulate the situation to their advantage. They are already making efforts to strengthen their control over the rest of the European union.
- Stocks if you are already in the stock market good luck, probably your best bet is to hold the course and hope they go back up and then sell. Personally, I don’t like any investment that I cannot hold, touch or stand on. Unless you are really knowledgeable the stock market is gambling for most of us.
- Money in the bank. It is always a good idea to have a cash reserve in case of financial emergencies. These could include anything from medical expenses to car problems. The problem is that the banks are paying almost no interest and in some places overseas are actually charging you to hold your money. These negative interests will probably come here.
- Money at home. This is a problem. Keeping large sums of cash in your home is dangerous. It makes you a target. If you choose to do it get a good safe Safes, The Wrong ones are Worse than Useless
- Gold and silver. Personally, I think these are good potential investments. They won’t help you during a food storage or similar emergency, but they will protect your wealth for the future. Buy your precious metals only from the best sources. There are many different types of fake coins and bars currently on the market (avoid eBay). Learn how to protect yourself. What You Need to Know to Buy Junk Silver, How to Keep From being Ripped Off While Buying precious metals.
- Land or homes. These are amongst my favorite investments. If nothing else, you can live and grow your food on it. This investment is best when you own it free and clear.
- Get the necessary insurance to protect what you own and to provide your family with some security if something were to happen to you.
- Stay out of debt. Debt just makes you a slave to someone else and cost you money.
- Preps while I have made this the last one it is also the most important when it comes to protecting your family. You need to have access to a good food and water storage, as well as all the other necessities of life. This should be your first priority after having a roof over your head. If you have to choose one thing this should be it.
To sum it all up the best thing you can do about protecting your family finances is to have a good stock of preps, cash and precious metals and own your own land. Now I know that to many of us this seems hard or like an impossible dream. However, there are ways of doing this by working and avoiding many of the pitfalls that people waste their money on. This includes about anything that prevents you from making your goals.