Chris from Phoenix is worried about \u201chuge civil unrest\u201d resulting from a collapsed dollar \u2014 and he doesn\u2019t think President Donald Trump or billionaire Elon Musk can fix the situation.<\/p>\n
The dad of two young daughters called into The Ramsey Show and asked co-hosts George Kamel and Dr. John Delony for their thoughts on how to prepare for a \u201csocietal collapse.\u201d<\/p>\n
Advertisement: High Yield Savings Offers <\/p>\n
Powered by Money.com – Yahoo may earn commission from the links above. <\/p>\n
Chris says he\u2019s worried about the growing national debt and that he imagines \u201cin several decades it being unmanageable and perhaps collapsing the dollar.\u201d<\/p>\n
Even if Trump and Musk could fix the situation, he doesn\u2019t think it could be \u201csustained long enough to where you wouldn\u2019t cause huge civil unrest.\u201d<\/p>\n
\u201cDo you all personally own any physical precious metals, gems, have visas or even ammunition for the purpose of protecting against societal collapse?\u201d Chris asked during a recent episode<\/a> of The Ramsey Show.<\/p>\n Dr. John Delony describes himself as a fellow worrier who\u2019s also concerned about the ballooning national debt, but he doesn\u2019t have any jewels hidden in his backyard (though he does have a deep freezer with about a year\u2019s-worth of meat in it).<\/p>\n Delony also urged Chris to ground himself in the present, because \u201cif you\u2019ve confirmed in your mind\u201d that a tragedy is coming your way in the future, \u201cyour body responds as though it\u2019s happening right now,\u201d said Delony. And that takes you away from being in the moment. And this isn\u2019t necessarily helpful.<\/p>\n So what can worriers like Chris do to prepare for the unknowable \u2014 and live more in the moment?<\/p>\n Before getting into precious metals<\/a> (or bullets), Delony suggests going back to basics. For example, before getting into bio-hacks to improve your longevity, you\u2019ll want to master the basics first \u2014 like exercising and eating right.<\/p>\n The same goes for finances. \u201cDo I owe<\/a> anybody any money?\u201d Delony said. Is his family \u201cactually free?\u201d<\/p>\n Going back to basics means being financially \u201cfree.\u201d That\u2019s where good financial habits can help: building up an emergency fund<\/a>, paying off debts<\/a> (starting with high-interest debts, like credit card debt<\/a> and loans) and investing in a diversified portfolio<\/a>.<\/p>\n Story Continues <\/p>\n Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan \u2018works every single time\u2019 to kill debt, get rich in America<\/a> \u2014 and that \u2018anyone\u2019 can do it<\/strong><\/p>\n Trying to think through how you\u2019d handle an \u201cepic wild west scenario is a waste of time and energy,\u201d said Delony. \u201cIt\u2019s just a distraction from being present with your daughters.\u201d<\/p>\n He suggests taking a \u201cnews fast\u201d for the next 60 days \u2014 not looking at news or social media \u2014 and doing something else instead, like playing with your kids or going out for a hike.<\/p>\n \u201cThat\u2019s not me putting my head in the sand,\u201d he said. Rather, it\u2019s about getting out of that \u201canxious state into a world that I can actually impact, which is my family, my home.\u201d<\/p>\n If there was an economic and societal collapse, \u201cgold\u2019s not going to solve it,\u201d said Kamel. \u201cWe\u2019d go back to the bartering system, trading for food, water, fuel.\u201d<\/p>\n As Dave Ramsey said<\/a>, \u201cAt no time has gold been used as a medium of exchange in a crashed<\/a> economy since the Roman Empire.\u201d<\/p>\n Kamel says he doesn\u2019t own any gold and \u201cif we make decisions based on fear, we end up poorer \u2014 not richer,\u201d he said, adding that he avoids precious metals and \u201cwouldn\u2019t use it as a hedge against anything.\u201d<\/p>\n One of the greatest hedges \u2014 if not the greatest hedge \u2014 is \u201crobust, connected relationships with your neighbors,\u201d said Delony. And you \u201ccan\u2019t buy that off of Amazon.\u201d<\/p>\n If Chris is truly concerned about the world imploding, \u201cget to know the people around you, have them over for dinner, become friends with them, talk about values.\u201d<\/p>\n