With the relentless flow of Covid-19 coronavirus news, over the past 48 hours I have read a growing number of reports of panic buying across America and Europe. People are understandably scared of a quarantine and inability to buy groceries.
Some pics I’ve seen:
Personally, I haven’t witnessed panic buying but I have seen more shoppers buying party-sized packs of toilet paper. Even if it hasn’t hit the public consciousness yet in your area, there is a segment of the population quietly preparing for the worst.
- Charts: Berkshire vs Tesla, Canadian Housing
- Vacant Homes and the Bank of Mom & Dad
- Bottoms, Bulls and BlackRock
- 5 Facts Every Investor Must See
- Equity performance and inflation
I don’t want anyone to panic, but I also think it’s irresponsible to not prepare at all. By not preparing as individuals we could place a greater burden on public health and social services if a crisis occurs, diverting resources from more critical needs.
While I don’t suggest unnecessary hoarding, I do recommend stockpiling some extra non-perishable goods to get through one month of quarantine. Let’s hope it doesn’t come to that. But as we’ve seen elsewhere, things can go from normal to crisis within days.
By the time the panic button is pressed you’re shit out of luck. Store shelves will be cleared within hours. We haven’t even reaches crisis levels and Costco crowds are already putting Black Friday mayhem to shame in some parts of America.
If you’re reading this and you haven’t prepared at all, don’t worry. Take some action instead.
Here’s a list of items you should get to almost immediately prepare you for the worst:
- Required medicines
- Quick oats
- Peanut butter
- Toilet paper
- Feminine hygiene products
That’ll probably take care of most of your critical needs if you get stuck at home.
You won’t be running a 5 star restaurant but you won’t starve either. Treat this as a starting point.
- Climate Change
- ETFs and Funds
- Gardening & Food
- Income Investing
- Master Class
- Real Estate
- Self Sufficiency
- Small Business
As you make future trips to the grocery store to buy regular stuff, add a couple extra items for storage. In fact, you can just skip the trips and buy what you need online in the next hour without stopping your Kim’s Convenience binge. Genius.
In this just-in-time delivery world, society is always just 3 missed meals away from total anarchy. Covid-19 or no Covid-19, you should always have some sort of emergency stash of food in your house.
While I’m sure I sound like some nut job doomsday prepper, storing a little extra food was the norm throughout human history. It’s all stuff you’re going to use anyway.
Wealth isn’t just about money. It’s about resources, health, balance. So help protect you and your family by being prepared.