Pandemic, Civil Unrest, Political Tensions, and Economic Instability of 2020

If you haven't thought about getting through the rest of 2020, now is the time to start preparing. Here are some helpful tips to be better prepared for what we may face in the weeks and months ahead.

PHYSICAL PREPAREDNESS

  • Stock up on the necessities like shelf stable food and drinking water, toiletries and cleaning supplies before another "mad dash" occurs.

  • Use waterproof/air tight containers. Most Firehouse Subs sell 5 gallon pickle buckets for $3. That's a steal for a great storage container with a good water tight seal!

Food grade 5 gallon bucket

  • Create a first-aid kit and kits with other "emergency supplies" like batteries, flashlights, AM/FM Radio, matches, hearing aid battery, extra pairs of glasses, medication, sunscreen, etc.

  • If you go to www.mymedic.com and sign up for their email newsletter you can get 10% off purchases.

  • Prepare for power outages and have surge protectors and generator or battery pack for necessary appliances, computer, phone, etc.

  • Don't forget about your pets. Have extra food and necessities for them.

  • Double check that your insurance policies are up to date. Auto, homeowners and life insurance policies are things you don't want to lapse or do without during times of crisis.

  • Have printed lists and phone numbers of important information in case cell phones and computers are lost or not accessible when needed.

MENTAL / HEALTH PREPAREDNESS

  • Start with having the right attitude. The best way to do this is to plan and prepare so that stress and anxiety is minimized.

  • Mental health is directly related to physical health. Take care that you are getting adequate sleep, drinking plenty of water and eating healthy.

  • Ensure you'll have access to any medications if you were to have to go a week or two without a refill.

FINANCIAL PREPAREDNESS

  • Have cash available in the event that stores don't take cash or banks are shut down temporarily.

  • Understand your insurance policies and check that they are adequate to cover what they are intended to cover. If you don't have a life insurance policy, consider the financial impact of your family if they had to do without your income for the next 20-40 years.

  • If you need to access "retirement" funds know how to take advantage of the CARES Act which allows certain funds to be withdrawn without penalty in 2020 due to the coronavirus pandemic.

CONTINUE YOUR EDUCATION

  • There are endless resources at your fingertips to learn more. Check into websites, podcasts, YouTube channels, blogs and more.

  • Feel free to reach out to us at Outfitter Wealth. No question is a dumb question. Even if it's not directly related to finances, we will take the time to share our knowledge. Setting up an appointment is just a click away.