Our reality has become distorted with the constant bombardment of good news and bad. News about wars in the Middle East, conflicts in Europe, Asia, Africa, the lack of food, water, energy, and much more.

It feels as though we are constantly living in uncertain times that continue to change on a daily basis, if not by the minute. These uncertainties permeate our economy, health systems, education systems and living conditions. One of the consequences of all of this uncertainty is an increased level of market volatility.

Ensuring your own financial security amidst whipsawed financial conditions out of your control can be overwhelming, but it's incredibly important to protect yourself for the present and the future.

This article provides 9 simple steps to help solidify your investment portfolio and financial security over the long term.

It's never too late to protect your wealth and make informed choices that help you to avoid a future financial crisis.

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The 9 Steps to Protecting your Financial Assets and Resources in Uncertain Times

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Although you don't necessarily have to do all of these nine steps, the more you do, the safer your financial assets may become.

It's also worth noting that these changes (provided you don't already do any of these things) may take a while, so make sure to take that into account when you're preparing your investment goals. Give yourself plenty of time and knock off one at a time.

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1. Strengthen your savings before investing in the stock market

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Before you dabble with the stock market or think of putting some funds into a retirement plan, it's best to begin with your cold hard cash. Building liquidity will enable you to make sound financial decisions later down the line.

Retirement accounts often come with strings attached. You may have to pull money from a 401(k) for emergencies, for example, and that action will incur penalties and extra fees. Save some cash and open a high-yield savings account for emergencies or for those near-term, imminent expenses.

You could also take a look at dividend-paying life insurance policies that come with increased privacy, tax-free growth, and long-term returns.

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2. Don't spend your entire paycheck each month

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The only way to save money is to, well, not spend it all in one go. Most people (that can afford to not live paycheck-to-paycheck) make the mistake of spending their money indiscriminately, completely ignoring the fact they'll end up with problems if unexpected expenses begin appearing.

To avoid this, it's a great habit to start to spend and budget with the future in mind. You should save at least 20% of your monthly income stream to guarantee yourself enough risk tolerance for various investment opportunities or flexibility for whatever life throws at you.

Live tighter now so you can live better tomorrow.

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3. Have multiple income streams

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A large majority of people have only one way of earning money. When that method turns sour, they're left with uncertainty about the future and loads of stress. If you're working one job and you quit or get fired - you may be in a boatload of trouble.

The best and arguably only way to avoid this is to increase the number of revenue streams associated you can count on. Once you're financially stable enough, consider investing, or opening your own business.

Maybe you could even get into real estate and rent out rooms or buildings. The possibilities can truly be endless as long as you're openminded. In summary, learn how to control your income and where to look for more.

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4. Protect your most important financial assets

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The average person's ability to earn cash can be cut short by ay number of unpredictable events. Your most important assets in life should be familial and financial and, in most cases, they go hand-in-hand.

Because of life's unpredictability, it is vital to guarantee the financial well-being of your family whenever you can. Take a look into whole life, term life, and convertible term insurance to financially protect those most important to you. Disability insurance is also a great option for those that live an active life.

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5. Invest your money in non-correlated assets that are independent of the stock market

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Because stock prices can change on a whim and the market can sometimes act like a toddler throwing a tantrum, investments in the market may not be as 'certain' as you think.

Take a look at the current climate surrounding oil prices - they've been fluctuating up and down every single day, impacted by global events such as war, shortages, and embargoes. The key takeaways here are that when it comes to the short-term - investing in the stock market isn't necessarily profitable unless you're attuned to economic signals and investing.

Instead, asset allocation is something you should consider. Specifically, non-correlated alternative financial investments. These are not influenced by global events and can produce exceptional returns (in some cases).

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6. A diversified portfolio using multiple asset classes can save you from headaches

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Financial diversification does not only mean you should diversify your stocks. (Though you should definitely do this too!)

Consider expanding your portfolio in other ways in an effort to make more money. What this means is that you might consider investments into a couple of different asset classes. Certain successful companies and their owners are known to do this.

Assets that are risk-averse should be one of your main portfolio elements. So, even if you are invested in riskier stocks and if those stock prices begin to tank, you'll still have other assets that will bring you a profit and provide long-term security.

Some sustainable and worthy asset classes include:

• Cash value - A savings account is perfect for this, especially when you consider that most banks offer interest rates between 0.5% and 2%.
• Real estate investment - Cash-flowing real estate such as commercial and residential are excellent choices for increasing financial value and cash flow.
• Private lending
• Permanent life insurance policies - high cash-value, dividend-paying whole life insurance may not be classified as an investment, but it's a viable choice for storing cash.

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7. Don't risk your money unless you know what you're doing

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It's surprisingly common these days to see what looks like a good investment opportunity. But the truth is, some investment opportunities are marketing gimmicks, and without a proper backup plan, investment strategy and enough savings, it can very easily go awry.

You should always think about the long term. Of course, taking on more risks means potentially earning higher returns, but don't be wooed by promises of high flying profits. Many of these investments may go belly-up before you see a dime returned.

There are lots of financial professionals that make a living by helping people find the right investments that fit their current situation. Contacting a registered broker-dealer or financial advisor could prove useful and bring peace of mind when it comes to risk/reward. Don't willingly put yourself in a position where your portfolio loses value.

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8. Consider alternative investment decisions and assets

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Much of this article is about avoiding unnecessary risk. It's also important to recognize the potential benefit of new and upcoming opportunities too. Wouldn't it be nice to be one of the early investors in bitcoin?

Don't be afraid of looking for alternative investments outside the mainstream markets, but keep in mind that you should never put too much of your nest egg at risk. Be willing and able to lose all money invested into riskier bets to keep from putting yourself in harm's way. Many investors consider this money already lost to keep from getting too disappointed down the road.

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9. Protect your mindset to protect your way of life

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Money may not be the be-all, end-all of life but it is a necessity that we simply cannot avoid. Pay attention to your mental and emotional health while on this journey. Uncertainty is all around us and it's easy to lose track of what matters.

Don't put yourself in a position where you don't have an easy way out. Stress is a major issue, not just in the US but in the world as well. Most successful investors and companies have spent a large amount of time perfecting their craft.

Following up on that, you shouldn't expect to succeed in your investment journey from the get-go. So be mindful, don't rush, know which resources, companies, and assets to invest in, and take a break every once in a while to smell the roses.

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Final Words

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Playing the investment game is an arguably dangerous and risky activity. With so much uncertainty surrounding our everyday lives and an ever-changing economy, it's easy to encounter various issues, from health to finance.

Today's investors are going through the same problems - they simply do not know what tomorrow brings. With that said, these nine steps should help you solidify your financial self.

Financial literacy is a necessity and as such, you should focus on gathering as much knowledge as you can along the journey. Remember - you are the one who can control your cash for as long as you want. Be careful and good luck!

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