Half a lifetime ago I enrolled in a Dale Carnegie course to improve my comfort level when speaking to professional groups.  I wasn’t looking for philosophy, but I received a heavy dose of it over the following several weeks.   When I jokingly tried to impart some of this “wisdom” to our teenaged daughters, like, “Act enthusiastic and you’ll be enthusiastic,” they would frequently throw a couch pillow at me.

Seriously though, I found that Dale’s homilies had some merit.  One dwells in the recesses of my mind and appears during troubling times — like right now.  In essence, it councils that a worrier should imagine the worst that could happen in a given situation, make a plan for coping with that outcome and then stop stressing out about it.  I think it is part of Carnegie’s “Stop Worrying and Start Living” advice.

No one has an accurate crystal ball, of course, and typically the terrible things we imagine might happen rarely come to pass.  Yet, we buy insurance for home and autos and keep a fire extinguisher handy in the house just in case.  Still, the pressing question today is – what should we be doing about protecting our future in this period of stress and uncertainty?

Well, I am writing checks to candidates who I believe will provide the best outcome in 2025 and I will vote for those that are on my ballot.  Above all though, I am trying to remain positive and hopeful.  The contest for the presidency is far from over and with President Biden’s decision to exit the race, Trump will be the old guy.  Yes, there is only so much individuals can do to defeat him, but everything we can do will help.

But if our efforts fail and Trump is elected in November – this is my best advice.  Identify those things you can control and carefully manage them to protect yourself and your family.  Think of what you would have done in July 2007 if you had known when the Great Recession would start and what economic problems it would cause.  And pay attention to what experts are predicting if Trump is successful with his agenda in 2025 and beyond. 

A June letter by 16 Nobel Prize-winning economists is worth reading.  They begin by stating that they are “deeply concerned about the risks of a second Trump administration for the U.S. economy.”  They stress that the rule of law, economic and political certainty and stable relationships with other countries are among the most important determinants of economic success.  Their bottom line is that a second Trump term would exacerbate inflation, have a negative impact on the U.S.’s economic standing in the world and a destabilizing effect on the U.S.’s domestic economy.  Oh my!

This letter did not detail the Trump proposals that would cause the problems they fear, but other economists have warned against his plans to deport millions of undocumented immigrants, raise tariffs by 10% across the board and cut taxes. 

A good way to start a plan is with a financial advisor and a review of your investments, particularly bond holdings.  Ask if your portfolio is adequately prepared for the higher inflation and interest rates that economists say could occur.  Remember, even during the Great Depression of the 1930s, many companies did reasonably well, including Coca Cola and Proctor & Gamble.  Food and beverage companies in general prospered, along with those providing other consumer necessities.

A fire proof and water proof safe is nice to have in your home.  One that will hold 1.5 cubic feet of important documents and valuables costs less than $100 and weighs around 30 pounds.  Some can be bolted to a wall to for added security. 

It is advisable to have some cash for an emergency, which can be kept in a home safe.  The amount will depend on what makes you comfortable, perhaps enough to cover most expenses for two weeks.  A global computer glitch caused by software firm CrowdStrike led to widespread outages affecting airlines, banks, and media outlets late last Thursday and Friday morning.  Our society is almost totally dependent on computers and the Internet.  If they fail to work for whatever reason, plastic cards could be temporarily worthless. 

During the Great Recession in 2008 and 2009, right-wing media was spreading such wild conspiracy theories about President Obama that several conservative friends took some rather extreme actions to protect their assets.  Many bought large quantities of gold.  One asked my advice about which gun to buy for his eighty-year-old wife.  It was mindboggling. 

We don’t know what Trump 02 might do, regardless of what he may have said.  He simply lies about everything and a lot will depend on which party controls Congress in 2025.  Things might not be as bad as we suspect – or – they could be worse.  But for sure, do not believe anyone who tells you, “Don’t worry, everything will be just fine.”  

I’m not suggesting that anyone take extreme measures.  But I am confident that those who carefully plan for the worst will feel more secure and be better prepared to cope with whatever happens in November.