Saving is losing.
In an inflationary economy you should spend or invest in hard assets.
“In an inflationary economy you should spend or invest in hard assets.”
Good point. We have a mortgage free farm (house, barn, outbuildings, acreage, woods) and crop land and a pasture we own and rent out.
All vehicles, ATV, tractor, skid steer & farm equipment are paid for, though I DO want a UTV, so that’s something I WOULD spend cash-money on if a good deal presents itself. ;)
I’ve been a Gold & Silver Bug for nearly 20 years now. Also have cash on hand. I’ve also got $1,600.00 ‘invested’ in my Propane tank! *SMIRK* We’re pretty much covered, but again, good add to this discussion! For those that are unsure what we’re talking about, here you go:
Examples of Hard Assets
Real estate. Investors can buy individual properties to create their own portfolio. Alternatively, they can purchase shares in REITs that own a diversified mix of properties with professional management.
Gold, silver, platinum and other precious metals. They investments are “stores of value” during uncertain economic times. Although precious metals have some utility in the manufacturing of products, especially platinum and palladium, they do not grow like a stock or provide income like a bond.
Oil, natural gas and other resources. These resources are used by consumers and businesses throughout all economic cycles. While their prices tend to increase during a booming economy, they also tend to hold value during recessions because they fill a basic need. The value of these commodities generally fluctuates on a daily basis.
Vehicles and classic cars. Investors collect certain classic cars and exotics because of their rarity and, in some cases, their personal enjoyment. These investments tend to grow over time as they become rarer to find.
Artwork and paintings. Artwork and paintings serve as an investment, but also as decoration for your home or office. While they can be a valuable investment, they can also be quite delicate or susceptible to damage while on display. Valuing them can be difficult since they rarely change ownership and they are generally one-of-a-kind pieces.
Collectibles. Collectibles include wine, books, coins, stamps and other items with historical or other relevance. Many of these items are popular with niche communities. They may be harder to sell or trade outside of those communities and their value may be subjective.
https://smartasset.com/investing/hard-assets-2022-investment-guide