World reknown peak oil guru, Robert Hirsch, gave The Business Insider his breakdwon of what a peak oil world looks like and what one should do to postion their personal affairs and their investment portfolio (see link at bottom of this post). While we don't know exactly what this looks like, we are quite aware that natural resource scarcity is alive and well, so one needs to take responsibility to take the challenge head on. A few tips that we advocate:
- Simplify your life. Start a garden, be outside more, shop less, and turn off your television. Not only will you feel better physically by eating good food and exercising, you will more than likely discover how enjoyable it makes you feel to be busy and useful.
- Reconnect with family members and friends. If we are indeed going to experience economic pain because of peak oil, family members and friends are a great resource for networking. Even if no pain happens, your life will be better off through these relationships.
- Start downsizing your need for energy. Turn off your dryer, turn off the lights in your house when you don't need them, and quit driving so much. You will be amazed how much money you save.
- Position your portfolio to be hard asset heavy. Of course, consunlt with your own financial planner, but if peak oil and natural natural resource scarcity is indeed upon us, companies/instruments that will help all of us overcome this will be very profitable.
- Have an emergency plan. Where will you go if things get bad? Who will take care of your family? Where will you get food and shelter? Hope for the best, but always have a plan in place if the worst happens.
Robert's advice? Get out of most stocks, sell bonds, be heavy i gold and annuities. Click here for the presentation.