My plan is to make different decisions with the next dollars that become available and direct them towards a variety of assets can be physically held and used. The money that becomes available above my expenses in retirement would less often go into the Charles Schwab account.
The first things I think of are food, consumables, supplies, consumer durables, and tools. As the summer ends all our shelves, cabinets and the tool shed are fully stocked with items we use, and we have programs to rotate the items. We purchased for long term storage a year supply of food for one person. We also have cases of very good red wine, which of course in a natural for people living in the Willamette Valley of Oregon. (Be sure to eliminate any deferred maintenance on a house or cars.)
A home is a real asset, provided there is no outstanding debt. In general the absence of debt is constitutes real asset. Buy for cash upgrades to the home, which retain or enhance its valve. Replace an old roof, gutters, and drains. Update the landscaping. Soon we are going to have our driveway resurfaced with a Concrete Technology product. In every case the improvement needs to make it one of the best houses in the neighborhood without adding features properly belonging in other more affluent neighborhoods.
When countries look to define their wealth in substantive terms they consider natural resources, and the gold and silver they have in their vaults. I decided that gold was too expensive when it hit $800 per ounce, but I determined to buy one gold coin every time I gave blood regardless of the price. I go three or four times a year, and the shop I do business with is just a few blocks away. If I had the money I would buy rural property, and grow trees or grape vines.
In a time when my wife and I, and our two son’s families enjoy material prosperity, it is difficult to remember that our Christian faith is our really real asset. All of us try to keep saying that whatever reasonable steps we may take can, in a significant way, be overcome by unforeseen events. In the new True Grit movie when Mattie Ross is about to join Rooster Cogburn to go after Ned Pepper she says, “I am in the hands of the Maker of all things and I have a fine horse”. I think that sound bite sums up a shelf full of theology writings.
Never a need to say sorry when you spend time with your kids...but thanks for the reply.
From reading your response it sounds like we are thinking along the same lines. We also are stocked with food, consumables, supplies, and tools...and this is for the nine of us...I have seven children. We don't have the wine but that is okay...
I was very blessed to be able to buy some farm land and build our own house on it several years back. As a result we now have fruit trees, grape vines, berry patches (blue berry, black berry, raspberry, and strawberry), as well as a large garden, chickens for eggs and meat, ducks for eggs and meat, sheep for wool and meat, and a cow/calf for milk and meat. We are able to can a lot and purchase in bulk most of what we do not raise.
“our Christian faith is our really real asset.”
I completely agree...
“In the new True Grit movie...’I am in the hands of the Maker of all things and I have a fine horse’.”
I agree with your assessment of this statement...it shows reliance on God and that He has given us the ability to plan...well said.
God bless