Financial Preparedness
News -
Alan - https://business.financialpost.com/investing/a-recession-is-coming-and-maybe-a-bear-market-too
FP predicts a recession. Although the Libs deny it, we’re overdue
https://www.cnn.com/videos/us/2019/03/05/california-missing-sisters-found-woods-survival-es-vpx.cnn
two girls, 5 and 8, spend the weekend lost in the woods. Survival training from the local 4H club kept them going. Looks like they did everything right by staying still, finding shelter, and having some equipment with them
Eric - Watchdogs proposing new framework for cryptocurrency exchanges on heels of Quadriga collapse
Taha? - Tax Prep Software and Privacy Concerns (Since it is the tax season!)
Why do we worry about financial preps?
Alan - Acts as a Lay-off insurance
Ian - Medical / disability insurance, if not covered by you company. More peace of mind.
Eric - Savings to buy gear at Rapid Survival? (Haha!)
Ian - Basic levels of financial preps .
1 - Financial INsolvency, like the government
2 -Financial solvency - Debt + living expenses equal to income (Tarzan theory)
3 - Financial Stability - Debt + Living expenses = income (Plus emergency fund)
What to have on hand. . .
1.Copies of all financial documents
a.Bank statements
b.Credit card statements
c.Mortgage statements
2.List of all account numbers, sure it's handy your phone app automatically knows this, but what if the bank systems are down and they go back to pen and paper?
3.Identification so you can prove the account is yours. Know whos on your accounts and what access they have.
- Keep a copy of your credit report, and watch it for fraudulent entries, the sooner you catch them the better!
5.Cash. . . if there is a power outage for example, ATM’s, debit and credit machines will eventually stop working, keep some cash on hand. Make sure it’s small bills as well since there might not be the possibility of making change.
Alan - Keep hard copies, soft backups (USB drive) and cloud backups of all the important documents.
PODCAST CHALLENGE
Ian - Save a small amount monthly,($100?) the goal being to end up with a 6 months of basic expenses as a contingency fund. IT SHOULD cover many (Dare I say most?) unexpected expenses.
Eric - Sign up for a MyCRA account and track your account use
Alan - Christmas fund idea: week after Christmas save $52. The next week add $51, and so on every week. It puts $1,327 in an account on December 1st. If you put it in an interest-generating account it can be even more
Taha - Visit counttech.ca
Upcoming events
Eric - 2019 Annual Preppers Meet, Desboro, ON
July 11-14
http://annualpreppersmeet.com/
Ian - 1st annual Western Canada Hot Springs Meet
May 25/26 - Weekend after the May long weekend.
Sloquet Hot springs
https://www.youtube.com/watch?v=ElIbdEDTO60
http://whistlerhiatus.com/driving/sloquet-hot-springs-126k.html
Campcraft, preparedness discussion, meet up for like-minded people, an adventure to get there.
Also marked on MAPS.ME APP
You can find the podcast on Itunes, Podbean, Spotify or your favourite podcast app. Please help us out take a few minutes and submit a review! It helps other people find us. You can also find us at prepperpodcast.ca.
Taha- www.counttech.ca
Ian - You can reach Ian directly, by emailing me at theislandretreat@gmail.com .
You can also find me giving my .02 worth on Canadian Patriot Podcast, also available on Itunes and Youtube. There you will find us discussing the merits of a freer society, exposing more government waste, and squirreling off on the odd tactically-driven conversation.
Alan - We record these shows on Youtube live chats. If you want an early peek at the shows, please subscribe to the YouTube channel “The Island Retreat “, and click the notifications tab. That gives you alerts when we are going live. You can contact me directly on Instagram, @ PPSWO
Eric – Please check out Rapid Survival www.rapidsurvival.com and get me there on live chat while buying some prepper gear. Or, you can also email me at feedback@prepperpodcast.ca (while still buying prepper gear at Rapid Survival)
