In my first article of this series, "The Looming Storm: Understanding and Overcoming the Next Financial Crisis (Part 1)," I discussed how the global economy is slowing down and potentially heading toward a recession. In the second installment of the article series titled "The Looming Storm: Understanding and Overcoming the Next Financial Crises (Part 2) & Part 3, I have discussed its potential consequences.

Always, bear in mind that we do not have the power to completely change the course of events, but we can ever so slightly alter the course. The objective of this article series isn't to single-handedly save the world, and to become the ultimate survivor, but rather to focus on yourself, your family, and your community.

I have divided this subject into several key areas: Energy, Security, Food, Water, Wealth preservation, Health, and Community. By attaining a reasonable level of proficiency in these aspects, you can reduce your dependence on the existing system. Furthermore, self-reliance remains relevant regardless of economic conditions, including recessions. It is a proven and resilient approach to survival.

E) WEALTH PRESERVATION

• Gold & Silver: The ultimate form of wealth preservation with no counterparty risk at all. It has been proven throughout the history of mankind. Gold is often regarded as a safe haven asset during times of economic uncertainty, including recessions. When the economy is in a downturn, investors may lose confidence in traditional investment options, such as fiat currencies, stocks, or bonds. In such situations, they often turn to gold as a store of value and a hedge against inflation. The demand for gold tends to increase during recessions, leading to a potential increase in its price. When compared to silver, gold has a high-value density, meaning you can store more value with less effort. Silver can store value and has many applications from industrial to medicine to electronics. The following charts illustrate how gold is appreciating against fiat currencies.

•  Crypto Currency: Invest what you can lose and invest in the technology, not in price. I know, many of us are into crypto to make a quick buck. But things could be different during recessions. No matter how good the underlying architecture is, the recession will affect both good and bad cryptocurrencies alike. But if you believe in the technology price will be of little consequence.

•  Rental Property & Real Estate: One could generate some passive income with property renting, although, during recessions, both rental prices and real estate markets can get a hit. Just imagine the incredible sensation of having a property you can proudly call "my" home.

• Having some Extra Cash in Hand: If the banking system freezes, during a recession, cash in hand could become highly valuable. This is because, most likely, your credit and debit cards, mobile banking apps, and online digital wallets may not function while ATMs may run out of money soon. Moreover, bail-ins administered by the governments are a real possibility, along with withdrawal restrictions. As an added benefit, you may be able to drive some hard bargains. 

• Having additional Income Sources: During a recession, when traditional job markets may be impacted, it can be helpful to explore additional income sources to sustain your current status of lifestyle. They could include freelancing, online tutoring, opening an online shop, a small business, renting, or providing any other service.

• Resisting Impulsive Investing: There can be many scams aimed at desperate people and you must keep an open eye for them to protect yourself and your loved ones.

• Tools for Day-to-Day Work or DIY: If you are a DIYer like me, investing in the tools or equipment you need is a good idea. Not only it will save you some money and your preserve wealth: you can also enjoy doing work.

• Arts: If you are really in the money, this is an excellent idea. 

I would like to know your opinion as well.

Some ideas for writing these articles are through my own experiences and the hardships I have to endure in my country. If you have learned anything, it is my pleasure.

Thank you for reading.

If you would like to help me in my endeavor and feel like donating.

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(I am not a financial advisor and this is my personal opinion. This is not financial advice and is only for educational purposes.)

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Older Articles:

1) The Looming Storm: Understanding and Overcoming the Next Financial Crises (Part 1)

2) The Looming Storm: Understanding and Overcoming the Next Financial Crises (Part 2)

3) The Looming Storm: Understanding and Overcoming the Next Financial Crises (Part 3)