5 Things You Can Do Right Now to Weather the Storm


Right now, people are seeking more guidance than ever. Life looks different as we all adjust. One of the greatest lessons of the current pandemic, which is now evolving into an economic crisis, is how unprepared so many of us were for the inevitable. 

What I mean by “inevitable,” is that life isn’t always rosy, nor can we expect it to be. Just like any asset, there’s a cycle, and major events that disrupt our lifestyles happen. Setbacks, bad news, and unexpected events are bound to happen. Business owners and entrepreneurs have a keen awareness of this. 

So our eyes have been opened to the fact that many of us weren’t prepared. What sets the successful apart from the pack is what they do in times of adversity—because there’s tremendous opportunity right now if you’re willing to look for it. So how do you prepare yourself to take advantage of it?


5 Things You Can Do Right Now


  1. Be in a position of cash

From a financial standpoint, you’ll want to have as much cash as possible. For some it may be a stretch, but you can do the following:

  • Know and assess where ALL of your money is—bank accounts, retirement plans, investments, brokerage accounts, and more.
  • If you’ve got a lot of money in the bank, split it among accounts at various banks. You don’t want all your cash in one place if there’s a banking crisis, as banks are legally able to use customers’ money to bail-in.
  • Have actual cash on hand. We recommend at least a month’s worth of expenses. 
  • Liquidate brokerage accounts. The markets are extremely volatile right now, and it’s not the time to be losing money. 
  • The CARES Act offers an enormous opportunity for people to access up to $100,000 from their 401(k) without paying a penalty. Additionally, any taxes on that money can be spread over three years. Get in touch with your advisors and account managers to see what you can do.
  • Look into Small Business Loans if you’re a business owner. Although the first wave of funds has dried up, don’t think this will be the only wave. 
  • Warehouse your cash somewhere safe, like mutual whole life insurance policies. Now’s the time to be diligent in paying premiums and policy loans. 
  • If you don’t have 6-12 months of expenses saved up, we highly recommend pulling that money together, as best you’re able. 


Right now, the economy is stagnant. Money is not flowing like it was a few months ago. In order to weather the storm, you’ll need to be in a position of cash. The above suggestions should put you on the right path. Doing whatever you can to minimize losses and free up cash will benefit you tremendously.


    2. Credit Lines

Get access to as many credit lines as you possibly can. I’m not saying you should use them—far from it. 

But when the economy reopens, and maybe even before then, there are going to be a lot of opportunities available. Having some credit freed up will make it easier for you to seize those opportunities as they arise. If you use up that credit, however, this strategy won’t work. 

So if you can get ahold of some additional credit cards without using them, now’s the time. 


    3. Gold and Silver

More than ever, it’s a good time to have some gold and silver on hand. I’m talking physical precious metals, in your possession. Although our money is no longer backed by the gold standard, if the dollar were ever to go south, you’ll want to have this for security. 

I consider this to be a wealth insurance. You may not need it, but with all the unknowns it makes for peace of mind. 


    4. Food

People may laugh, but don’t underestimate the life-saving power of emergency food. I recommend having about 6 months’ worth of non-perishable food items and potable water. 

You never know what could happen, but if you become unable to shop for food for ANY reason, having food and water on hand is the difference between life and death. This is a good idea even for events such as natural disasters. 


    5. Invest in Your Personal Capital

I’m talking mental capital, intellectual capital, and relationship capital. There’s never been a better time to read, study, take courses, and get creative with how we connect to others. 


So learn a new skill, create a course, write a book, develop you relationships, and so much more. Ask yourself how you can provide value right now, with what you have. Maybe you have loved ones who are mourning their lives-as-usual, and they’re going through the stages of grief—denial, anger, bargaining, depression, and acceptance. How can you help them along?

Maybe, all you need to do is be a beacon of light and hope during these times. Maybe your role is to listen. Whatever it is, being there for those with whom you have a relationship, and helping them along, creates opportunities. 

Use this time to enrich your life—you’ll be glad you did when the world gets back up to speed. 


You can listen to my new podcast, Cashflow Investing Secrets here.


Live your Freedom, Live Your Legacy, On Your Own Terms,


M.C. Laubscher is a husband, dad, podcaster & Cashflow Specialist. He helps business owners and investors create, recover, warehouse & multiply cashflow. You can learn more about exclusive cash flow strategies in M.C.’s new video series at https://www.yourownbankingsystem.com/

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