Your Survival Guy

Preparing your investments and family for when disaster strikes.

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Blackout: The Lights are Out in Puerto Rico

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By stockphotofan1 @ Shutterstock.com

Hurricane Maria’s devastation is still front and center in Puerto Rico where an island-wide blackout triggered a power line failure in the south yesterday, reports the WSJ. “It is the latest in a string of blackouts that have plagued Puerto Rico in the wake of last year’s hurricanes, which wiped out power to the entire island and severely damaged the antiquated power grid.”

Remember when Puerto Rico’s municipal bonds were being sold by hucksters as a “fail safe” investment? I do. That’s why it’s crucial for anyone who thinks this could never happen to them to remember that there’s trillions of dollars of mismanaged pension debt at the state level. Continue preparing your family for tough times ahead by securing your peace of mind on the home front—especially if you live in a state mismanaged like Puerto Rico.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com