Okay - Let me preface this - I’m no financial guru, whatsoever.
What does one do if they have cash sitting in the bank? What should one invest in right now, if anything? Real estate, gems...???
Please don’t slam me. I’m a lay(wo)man.
I must say....you Freepers have educated me more than any college could! Thank you!
1) Do NOT have a single banking relationship. Find solid banks using something like this...
http://bauerfinancial.com/btc_ratings.asp
...and spread what money you have over a few solid institutions. Make sure at least one is based in your home town. Have ID’s and passwords for each account and don't keep them on your computer. Keep them handwritten in a “little black book” that you keep with you at all times.
2) Even in inflationary times, cash is king. Live within your means.
3) Buy used gold jewelry you like to wear. Keep it in a safe when not in use.
4) Real Estate might be an option if you have the means to maintain it.
5) Train yourself on the use of firearms and buy some high-end weapons that will retain/increase in value.
6) Learn to grow things like peppers, tomatoes and squash.
7) Get out of a big city if that is where you live now. Find a suburb with low crime statistics. Move now before everyone wants to. Get to know your neighbors.
8) Try not to owe anyone anything.
I, like you, am just an average citizen, although I do find the subject of economics fascinating.
You will find so many different views on these things that it will make your head spin! After all is said and done, though, nobody can predict the future. As someone else here said, the best thing you can do is live within your means and store up what you can. I do not think that living out in the woods with a stash of dried food is any way to exist, though. Nothing in this world will ever provide perfect security.
One site I find interesting is zerohedge.com. I probably don’t understand half of it, but it is a lively discussion of current issues in economics. Another is The Foundation for Economic Education at http://fee.org/
Also, some good books: Economics in One Lesson by Henry Hazlitt; Basic Economics by Thomas Sowell; The Road to Serfdom by F.A. Hayek; and The Joy of Freedom by David R. Henderson.
Freegards,
Pining
Just my opinion, but buy gold if you can afford it. Silver is cheaper and still valuable.