Do you have a strategy to deal with economic black swan events?
I'm looking for reasonable, affordable measures that could shield my partner and myself should black swans ever strike. I'm NOT looking for alarmist prepper style rabid craziness...
Also, here's the math on catastrophic events. It's more likely than you think.
https://medium.com/s/story/the-surprisingly-solid-mathematic...
Land is also easy to take or can be worthless. What are you going to do with it, farm it? Live in the middle of nowhere with no amenities and no preparation?
Assets are easy to steal, and are only useful short term, besides something like living space or private transportation to get away.
Most useful are connections, as always. Then means of production, especially of necessities. And finally, just having the right kind of canny thinking.
Something like BTC is even impossible to cash in without an internet, working like a glorified IOU.
We bought a humble fixer upper countryside retreat with two hectares of productive farmland for under 10k€ in cash. A one time insurance premium really rather than an investment. Even if it generates some income beyond covering the recurring costs for real estate tax, electricity and maintenance.
Banks can fold. Companies can and will go bankrupt. But land will be there. And it's not just about the crisis event, it's riding the bounce after. Sure you might buy at the peak today, but it will return to growth on the other side of the cycle plus have more security of most other assets.
A friend of mind manges investments for high net worth individuals. I said once do they all come to you and look how big your past returns are? They said no, most come to them and say 'how can I make sure I'm never poor'.
See, it's almost 100 years past World War 2 and some property disputes are still alive...
So it can be a part of a strategy but not whole of it. Especially any undeveloped land is extra problematic. (It will fall to whoever developed it by law most of the time, requiring a buy out at most.)
And if the emergency is something requiring immediate liquid assets land is especially worthless. There are many such emergencies.
Preparing for the possible collapse of the financial system does not make you crazy. Ask people in Greece or Venezuela, or great grandparents who went through the depression.
I think the first smart thing is to diversify investments such as buying gold or different currencies or real estate.
I have lots of other idea but based on your comment you would accuse me of being insane if I mentioned them.
I'd rather avoid the counterparty risk.