By Chuck Bentley

Political pollster, Ed Goeas, recently said, “Concern over the economy is the highest I’ve ever seen,” He said 72 percent are worried about an economic downturn.

While I hope you are not among those who are worrying about the economy, I encourage you to keep a watchful and skeptical eye on it. My opinion is that these record highs being achieved in the stock markets are built upon sand and are vulnerable to a painful correction in the near term. Don’t panic, but if you are in the 72 percent who likely agree with me, then get prepared.

First, be sure your investments are diversified. In Ecclesiastes 11:2, Solomon advised that the best plan was to divide your portions into 7 or 8 different places. That means you should have no more than 12-15 percent of your investments in the same stock or bond. Get professional advice if you don’t know how to best achieve that.

Second, pay off your debt. This will enable you to avoid all the fear and stress about the future.

Third, be sure you have plenty of cash in savings. I recommend up to 15 months of your current income set aside for the worst-case scenario.

I wrote a book called The SALT Plan: How to Prepare for an Economic Crisis of Biblical Proportions. In my view, it gets more and more relevant every day. When should you prepare? Now. We are not in a crisis and I don’t know when the next one is coming. I do know the economy is distorted by policy makers, so be wise and get ready in the good years for some difficult ones ahead.

Originally posted 7/22/2015.