Seeking a friend for the end of the world
The survivalists preparing for the apocalypse aren’t as nutty as they look.
I’m fascinated by the small but growing movement of people preparing for the apocalypse. They call themselves ‘‘preppers’’. Their bug-out bags are packed and ready, just in case the world goes to hell. They practice survival skills, like wannabe Bear Grylls. Some have secret bolt-holes out in the wilderness.
But preppers aren’t just paranoid gun-nuts. They’ve cottoned on to something that very few people understand: the peril of ‘‘black swan’’ events.
A black swan is an unpredictable and unlikely event with extreme consequences. Think nuclear war, bioterrorism or a global pandemic.
And so, while it’s tempting to dismiss coronavirus as just the latest in a long string of overblown ‘epidemics’, that would be a big mistake.
It doesn’t matter if it turns out to be no worse than the seasonal flu: better to ‘overreact’ and risk looking a bit silly, than be unprepared when the big one comes along.
That’s doubly so when there are simple, low-cost measures you can take to prepare for unlikely but ruinous events. Here are the most important steps for weathering a black swan:
EMERGENCY KIT
This is the lowest-hanging fruit, because it’s almost always neglected by otherwise careful people. It only costs a few hundred bucks to put together a basic survival kit: batteries, torch, radio, copies of documents, first-aid, water, purifying tablets, and nonperishable foods.
CASH MONEY
Liquidity is everything in a crisis situation, so keep some hard cash to hand. I also like to maintain a savings buffer of about $10,000 in my bank account. Some would say that’s overkill, and I should be investing that money instead, but it buys me a priceless sense of security.
As a backstop measure, you could also maintain a credit card with an empty balance, so there’s always a line of fast credit available.
INSURANCE
Insurance is the best tool we have for managing chaotic risks. Personally, I never bother buying cover for small stuff like flights or electronics – the loss of which would only put a minor dent in my finances.
But insurance is crucial to protect against any loss which might wipe you out: say, your life (if you have dependants), your income, your house, your legal liability, and your health.
SOCIAL CAPITAL
Western culture thrives on championing personal freedom and letting each individual forge their own path, no matter how hubristic. This has worked out pretty well in the good times, but a unit of one is fragile.
When things fall apart, it’s friends and family who let you crash on the couch, loan you money to tide you over, connect you to a job, or give the love and support you need to get back on your feet.
If you don’t have much social capital, be sure to always repay personal debts, put in more than you take out, and take every opportunity to help loved ones while you’re in a comfortable spot, in case your positions are reversed some day.
It doesn’t take a global pandemic to ruin your life.
Even the most fortunate of us are only ever a few strokes of misfortune away from the abyss: the end of a relationship, mental breakdown, addiction, accident, or ‘‘don’t come Monday’’ can all trigger a downward spiral.
That’s why it’s so important to build these safety buffers into your life. It’s entirely possible that nothing disastrous will ever happen to you, and the buffer will go unused. But that’s a fantastic outcome!
If the worst does happen, and all you’ve done is crossed your fingers, you may come to regret not taking the preppers seriously.