Posted on 04/07/2015 10:02:03 PM PDT by concernedcitizen76
Pay off all debt.
Buy real estate that you can control, use and defend, such as a rental property near your main home.
Supplies for several months.
Well I have thought for some time that the reason the govt is stockpiling ammo and doing martial law er urban drills is because they know the economic collapse is coming and they cannot stop it.
for later reference
Spot on.
If anyone is considering staying in a large city, NOW would be the time to re-think that.
“If anyone is considering staying in a large city, NOW would be the time to re-think that.”
Totally agree. Our next door neighbor is selling and moving up to 150 acres NE of Atlanta. Everybody we know is hoping to get out soon. We plan to be permanently at the mountain place soon. Taking Mom with us. The cities are going to be bad news.
The answer:
“In places where you had positive control over the investment the capital is placed in, and the means by which profits were paid out.”
If the currency collapses, then the answer is as the former - Beans, bullets, bandaids, bullion (silver, copper, etc.)
Real estate about 1.5 to 2 hours drive away from big cities might be a good bet right now because self-driving cars are going to make it practical for middle class families to live that far away from their jobs. Many cities have huge Democrat retiree costs and will go bankrupt as big earners move away. A question is does it make sense right now to finance a real estate investment with a fixed rate loan, or stick to cash only buys?
“A question is does it make sense right now to finance a real estate investment with a fixed rate loan, or stick to cash only buys?”
To me, taking out a loan would make sense only for an income generating property, but you also wouldn’t want to spend ALL of your cash on ANY property, no matter what. Still need to remain liquid, as well as not over-leveraged.
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