Posted on 12/05/2020 5:18:14 AM PST by SteveH
any thoughts?
i am thinking
* payoff mortgage immediately
* divest from all stocks, mutual funds, bonds 50% now, 25% next week if bad news continues
* move into precious metals now, 50% from cash in bank now, 25% next week if bad news continues
* pay off any mortgage (if overall finances allow, eg, if mortgage currently being used as income tax dodge)
* (current blue state residents) prepare for possibility of a need to leave home with very little advance notice, travel to nearest solid red state - have or buy a decent auto, preferably 4x4 truck. plan the route now, memorize it
(anyone considering going to mexico? canada?)
(i would love to be wrong about a need to do all of this.)
thoughts welcome
And nothing will happen.
I have been to Mexico. I loved it. I loved the Mexican People. They tend to be beautifully mannered and kind, friendly, and family oriented. I lived in New Mexico for a while. I loved the Mexican People I knew there. Some, with whom I discussed politics, agreed with me entirely.
It will be interesting to see if your Vanguard guy will factor the political scene into his financial planning.
My Morgan Stanley guy won’t. I met with him two weeks ago and the most he would say is a Democrat administration would bode well for a big “stimulus.” He tends to discount the impact of politics on financial performance and takes a long view. I keep arguing that a long view dominated by outright communism or extreme fascism is not something we have faced before. I know he thinks I’m a kook.
Most financial advisors are smart enough to steer clear of politics with their clients.
Report back to is on what he says.
> Other 50% should be used to “pick winners”.
Biden/Harris is a friend of large corporations. Blue chip stocks, the big auto manufacturers, big tech, and defense companies are probably the best bets.
Small business is being killed off. Soon all restaurants will be Taco Bell.
However I'm thinking of my children. I do not want them trapped when, as Paulie says, it's time to get out of Dodge.
I want to know where to send them--while I stay and fight.
Toilet paper and paper towels. Think Venezuela.
“Most financial advisors are smart enough to steer clear of politics with their clients.”
Ours is like that. My sister’s and BIL’s adviser is a gung-ho ultra conservative Trump guy. Their meetings are interesting.
i am deep red in a sea of deep blue.
i guess you are saying tough luck to people in my situation.
wow.
I agree.... exactly
I wouldn’t accelerate paying off anything.
I also don’t see huge flight from the dollar.
We don't know yet what is coming and being behind enemy lines is as good a place as any until we do.
Metal mining stocks, but the ones that make the most money are penny stocks in the OTC.
> How is it possible to invest in precious metals without getting ripped off? Tea Party minded broadcasters have been advertizing that stuff for over a decade but it looked like a good way to lose your money to me. Any serious advice welcome.
my thoughts fwiw (based on some experience, working ok for me so far)
find a local dealer who is honest. cultivate trust through long term patronage. if you have not started this yet, start as soon as possible. i have never used mail order and i wont now. my dealer knows me my sight when i walk in the door. i doubt they would extend the conveniences they extend to me to new stranger customers.r
a general platitude/rule, better early than a day too late.
(note, please don’t ask me for specifics, i started from scratch, if i can do it, then hopefully you can too)
And hard liquor. Doesn’t go bad. Valuable for bartering. I periodically hit the liquor store and buy whatever is on sale.
Divest... buy ammo and weapons.
They both can be traded for other things
That could work but not being a drinker, we don’t have much on hand.
People are looking at the wrong things for value. You can’t eat silver or gold and you can’t defend yourself with it.
It’s nice to have but has no practical value in survival situations where ammo, guns, and the skills needed to survive will be or much more value.
Mr. mm and I are about as set as we can be. He can fix anything or cobble it together. I can garden, sew, and can to preserve food and we still have old books that teach those sorts of things, so if the internet goes down, we can still look stuff up.
I have been considering, though, that a ham radio would be a good thing to add to our prepping supplies. It would provide some communication with the outside world.
As the sun sets on another day, what would you rather have in your hand...some cans of spam and a bag of rice...or a bunch of gold coins?
> China grabs Taiwan just like Germany grabbed Poland on September 1, 1939.
I am watching the TW situation closely as i consider it to be useful like a canary in a mine. Quite succinctly, an invasion of TW is proof that everything will go south very quickly (as in, within days if not hours).
btw TW is also full of political controversy and not very stable, at least in my opinion.
:(
When the shtf, and the power grid is compromised, let me see you buy a loaf of bread with Bitcoin.
i’ve made perhaps 18% in stocks in the last 30 days.
i am now concerned that what comes up might also come down.
in particular, i am considering getting mostly out before dec. 31.
i am considering getting 50% out today.
there is only so much one can do with paper money not to mention stocks, during a civil war.
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