Knowing when it is time to worry

Right out of college, I didn't really worry too much about the whole economic system falling apart. At the time, I only had a few thousand dollars to my name so I really didn't have that much to lose. I think this might happen to some men out there. The more wealth a man accumulates, the more fear builds up of losing it. If a man is responsible and takes some precautions, he can minimize the amount of risk of losing it. It can minimize the risk, not eliminate it. Make sure you have health insurance, don't party too hard, and try not to get sued. If you make sure not to be dumb, this leaves external risks to worry about.

The biggest fears would be if America experienced hyperinflation or if the government started confiscating private bank accounts. To this, there are some precautions you can take. Buy some precious metals, buy some land, maybe some stocks. Before doing that, it is really important to get out of debt. Many people I've talked to say that American won't fall because every other country is managed worse than ours.

Here, it may be useful to take a look at the news. And by news, I don't mean the mainstream media. Take a look at what is happening in other countries. I saw some really disturbing news in 2013 when the country of Cyprus was having financial troubles. If I recall correctly, 10 percent of most bank accounts was confiscated just to keep the country afloat.

Just recently, Greece has been having the same problem but to a worse extent. I'm still following ZeroHedge to see what will happen to bank accounts there.

I watch out for stories about other countries falling into economic chaos because I've come to the conclusion that America is one of the last places it will happen to because we hold the reserve currency. Just because I don't want to have things sneak up on me by surprise, I've set a place to decide when it is time to start really preparing for a disaster. This point is arbitrary and is picked out just for my own gauge of things.

If economic disaster comes to Canada, Australia, Japan, United Kingdom, or Germany, then it might be time to start changing up strategies. I pick these countries just because I monitor their currencies on a daily basis. By economic disaster, I'll be looking for things like hyperinflation or the confiscation of private accounts. As long as these countries stay okay, I'll feel good sleeping at night.