More Garand clips and the ammo to fill them, some more handgun and shotgun ammo, and a number of other assorted novelties.
I’m putting what cash I have left into hard assets. Property (unimproved) and physical precious metals. I don’t see any other way to avoid the inflationary collapse that is heading our way. The typical safe havens of bonds and CDs offer nothing to outrun 7%, 10%, or 20% inflationary pressure - I would be losing money every day.
More Garand clips and the ammo to fill them, some more handgun and shotgun ammo, and a number of other assorted novelties.
Get another passport and invest it there. You should hear what my Filipino bud was able to do with his after 15 years of having 3 passports.
Took a third of money to Canada. Just in case I have to move someday and we have financial controls.
I am thankful I paid cash for my house so I own it as long as taxes are paid and I considered that when I bought. I went smaller rather than larger to keep utility cost down (think electricity), and keep the amount of taxes down. I am as far divorced from others having a say in my house as a person could be.
I know most people can't afford to pay off their house. I am “old” and had paid off a house so when I moved I had the money from that house to pay cash for this one. I guess that is a trade-off - “old” means a paid for house.
I also don't owe money on my car as I paid cash for that. Insurance is the only cost for it.
I keep smaller bills in cash hidden in the house in case an emergency happens. Hurricanes always take out power and there is no money to be had then. That one was difficult for me as I never think about cash money. I use a debit card and didn't think about cash. When Ike Hurricane was coming, I rushed to the bank to get cash. After Ike, I thought about that and asked myself why I had to do that when I could get money and have it available. Made a special trip to the bank to fix that. If you don't have much cash at home, it's a good thing to get that.
Bank crash: Here's what I think about money in the market whether it's a 401k or not. If banks fail, how much do you trust your bank to still have that money in your name after a year with the bank not opening? Your money is on a microchip, it is not a stack of actual money. What you have is maybe a statement showing you have an amount of money on a microchip. Personally, I would cash it in for actual cash and leave only the amount of money I knew I could survive without if it disappeared. Or, take it all out. This whole situation is mute if you believe banks are not going to fail.
Taxes: If you have a profit if you sell securities now, sell them now and take the profit this year before taxes go up. If you will be taking a loss if you sell, decide if you trust the bank to stay open for another six months or more and that the securities value won't go down more.
Good luck to you and your money.
Out of money unfortunatly. Wife looking for work without any luck.
You don’t pay tax on a 401k, in fact you get to deduct 401k contributions from your taxable income.
Going Galt. Family stopped exchanging Xmas gifts years ago (we play games and build up a “pot”...winnings go to a selected conservative charity).
Sold home months ago to move to Detroit for job (had to...didn’t want to...hate it here)...enjoying renting actually. But keeping family cottage for retreat and stocking it well. Making plans with family in case of several scenarios. Just finishing paying daughter’s college education so neither of us has debt from that :)
Trying to enjoy the little things and learning all about prepping....didn’t start in new company’s 401k...am paying off remainder of debt first..want to be able to move on moment’s notice.
I am not an economist. Any here? I’m trying to figure some of this out.
The federal government receives money from taxes. They do sell a few things, but not much. So, they borrow money to make up the difference between what they take in for taxes and what they pay out. How do they borrow this money? I have some vague idea of how all this works, but I would like to be sure, and I’m no expert.
I’ve been working very hard to scrape together about $20 for seeds this spring. That’s the extend of my spending money.
What money?
I swept about another 25% of my chips off the table. I’m waiting out the storm with about 50% of my assets in high and dry cash and cash-like equivalents.
Stocks have and will continue to tank. Interest rates will skyrocket in a few minutes someday, killing long bonds. There is no safe harbor.
There is no wealth creation, anywhere in the world.
This is just plain ugly.
How do you escape a World Wide Wealth and Productivity Collapse?
I didn’t have any money befor the election and I don’t have any now, so, I’m doing the same thing - nuttin. lol
Making a strategic withdral from IRA to get almost debt free, and facilitate selling our house to downsize both from a size and cash flow perspective.
Spending time learning more in the way of prepping and SHTF survival information. Working on modifications and additions to our RV equipment that make our rig have bug-out capability.
Basically, I am moving to a lightweight Galt-ette and Prepper-ette existence with the option to ramp up more in response to events. I am exposed for a sudden collapse but believe if it does happen, it would probably be a slow burn more than a flash.
” I have 401ks”
For now.
OBAMA BEGINS PUSH TO CONFISCATE IRA’S & 401K’S
http://www.silverdoctors.com/obama-begins-push-to-confiscate-iras-401ks/
What money?
Is there anyone here familiea with self directed IRA’s or willing to set up a mutual association to keep costs down?
We are buying the best retreat in the mountains we can afford, setting it up with an off grid solar backup system, chickens and raised bed gardens. We are going Galt before the crash.