Posted on 04/12/2020 11:17:20 AM PDT by fightin kentuckian
I'm like most Freepers, I work, still have a job for now, and I save money to a 401k, IRA. My money is still right where it is when this current crash started, but a lot less of it.
The US debt is out of control and with these corona virus mega spending bills there is no way that the US will ever come out of debt. One day, the US economy will in fact crash from this mounting debt, it's inevitable given we are not deviating from our path. And when it all comes down it will make the virus crash look like a mild correction.
When that day comes the market will go to zero and banks will NOT give us our money. Everyone will default on their debts in order to hoard what little cash they have. Inflation will skyrocket, dogs and cats living together, Armageddon.
My question is what are you doing with your money to get ready for that day. What investments are you using? What do you recommend?
This is a serious thread so lets dispense with the lame jokes about me giving you my money. I'm asking on this forum specifically because a lot of Freepers are extremely smart, connected, and in the know about a variety of topics.
He is Risen! Happy Easter!
I do not think it will be an overnight thing.
I was lucky and saw the virus coming back in Jan. I was able to stay in the market until about three days before the marketing started its downward slide. I move 92% of my 401K to short term fixed income, but let my balanced asset open to take advantage of the market drop.
I have 92% in Short-Term Fixed Income (Stable Value Fund) and 8% in a balanced asset allocations with a target retirement date of 2030.
The Stable Value fund has a 2.37% guaranteed interest as of Jan 1, 2020. Not sure what the guaranteed interest crediting rate means. This was the lowest risk fund that as available in my 401K.
Now that we are on the other side of the Market slide my future deposits into the 401 is 100% balanced assets. What goes down always go back up theory. My main funds (what I do not want to lose) are in the stable fund for future retirement.
I think the best position you can be in if the US crashes is: No bills, have a good new running car, paid for house, and money to pick up real estate (deflated prices). I don’t think Gold and Silver is a bad thing if you have the others in place.
Deflation verses Inflation:
The house payment is a fixed interest rate. Would I be better it off or let it ride. Albert’s Child mention deflation. A negative effect of deflation is salaries fall. I am guessing you do not what to carry a mortgage under deflation period.
Guns, ammo, silver. In a real collapse, money will have no value. As we have seen, in hyperinflation, everyone rushes to the stores as soon as they are paid to buy ANYTHING because the cash will be worth half as much tomorrow.
“All of that will be worth very little. In a barter economy wealth is:
Land, water, animals, guns, ammo.”
That’s right, you can not eat gold and silver. If you have the items you listed above you would be a rich man.
I have all four where I live. You forgot fishing pole.
Regardless what anyone says, there really isn’t much one can do. Sure, you can increase your mattress investment but at some point your toilet paper will be more valuable than a worthless dollar bill. Gold? Pfffft... if it’s that bad who would even want to buy your gold?
I have my faith and that’s enough for me, but I invest in practical items that would get my family through on the short term. Long term? I invest in things that moths and rust can’t get.
Adding family still to the list
Currencies have crashed and national debts have been renounced.
Life goes on.
Don’t underestimate how long a nation’s debt can continue to grow.
You’ll likely be dead.
“ mineral rights.”
Can you share a bit more about investing in mineral rights?
“Deflation”
I believe it is far, far worse.
We are headed toward stagflation.
We will pray for deflation...
Where are your minerals?
Good story. Completely agree that’s the strategy.
And tobacco and licker!
Government printing endless money,spending the endless money and growing endless debt tends to lead to very bad things. Government says everything and lies about everything. That’s your economics and civics lesson for the day.
The politicians are really good at kicking the can down the road.
My great grandmother was born in 1892, and she knew a lot of boom and bust in her life. One day she asked me to help her go to the bank to get cash for grocery shopping. The bank turned out to be her mattress, under which she had piles of bundled bills, probably about $100k in 100s and 50s. plus a lot of silver and gold coins. She handed me a bunch of 20s and the grocery list and told me to keep my mouth shut and I could have some of her beer...
People still need stuff in lean or troubled days. Find out what they need and figure out how to get it to them.
Cash, brass & lead (ammo).
Time to also tag china big time
ha!
(i have an almost immediate reaction including belching up the burger)
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