What’re you doing for the upcoming economic disaster?

[Blimey]

Here's an article from today

Dow Drops 519 Points Because the Market Has Bigger Problems Than Just Apple

I’m annoyed it only went down exactly 20% before Xmas. I have decided that if it goes down 25% I will move half my bonds into S&p500, then yet more at other drop points if they happen. This is possibly an iladvised version of trying to beat the market but I refuse to sit on bonds after such a drop, as they gradually increase in value while stocks get pummeled on th way down. Then I won’t buy them back until we hit a new high whether it is one year or fifteen. If I was older I wouldn’t do this. Historically it is a sound strategy, the only questions are how low and for how long. And I have no idea on either one but the average bear market is 30%.

 

[Blimey]

Market up around 9% from its Christmas eve plunge.

on the reddit/r/wallstreetbets and /r/investing forum there was no shortage of people at this time--just 2-3 weeks ago(!)--who insisted this was the start of something truly nasty, that Trump was messing up the stock market, or the fed was, or whomever.

As usual, the tiger can't eat you as long as you stay on its back.

 

[Exonautic]

working towards being 100% debt free TBH. Federal student loans i can live with, they're low interest. the private ones i had to take, nah, want those gone, hopefully before i finish school.

 

[BuffNiag]

Continuing to max out tax advantaged retirement accounts.

 

[GOPerfect]

I have only read a few comments here about being and staying debt free. I think this is so important. I owe only six more years on my mortgage, I am ahead by 12 years. Credit card debt free as well. I have my truck payment; plan on one and a half years to pay that off.

Investing is great, almost pointless if you are carrying high amounts of debt.

 

[Exonautic]

Investing is great, almost pointless if you are carrying high amounts of debt.

Caveat, unless your employer matches your 401k contributions.

 

[GOPerfect]

Caveat, unless your employer matches your 401k contributions.

Always a few exemptions. Thank you.

 

[spat]

I have only read a few comments here about being and staying debt free. I think this is so important. I owe only six more years on my mortgage, I am ahead by 12 years. Credit card debt free as well. I have my truck payment; plan on one and a half years to pay that off.

Investing is great, almost pointless if you are carrying high amounts of debt.

On the other hand, if S truly does HTF economically, going into that with a lot of debt (and a lot of tangible assets bought with that debt) isn't the worst thing that could happen.

Paying back debt is really easy when hyperinflation hits.....

That said, we have very little debt, house almost paid off, etc....

 

[masterswimmer]

We took out a 10 year mtg back in 2012. Accelerated the payments on the 10 years so that we'll be done in exactly 12 more payments. So one year and finished! eF'ing stoked!!
Total seven years and four months. Not too bad.

 

[pjzwtl]

On the other hand, if S truly does HTF economically, going into that with a lot of debt (and a lot of tangible assets bought with that debt) isn't the worst thing that could happen.

Paying back debt is really easy when hyperinflation hits.....

That said, we have very little debt, house almost paid off, etc....

It depends on what level of shift. If it’s the big one yea debt won’t matter much but if it a depression kind of shtf dept can send you to shantytown

 

[Blimey]

I have only read a few comments here about being and staying debt free. I think this is so important. I owe only six more years on my mortgage, I am ahead by 12 years. Credit card debt free as well. I have my truck payment; plan on one and a half years to pay that off.

Investing is great, almost pointless if you are carrying high amounts of debt.

My only debt is my mortgage. I'm a bit torn on paying it early. Generally I do not overpay on it because its rate is substantially lower than long term stock gains, and I'm okay with the volatility. I feel I'm getting to the age where I'll start getting sick of having/embarrassed by it, though. I still had payments on one vehicle last year and almost overnight I became disgusted with them and assaulted the remaining principle like my life depended on it.

I still lease one expensive vehicle, but it's really our only splurge and I'm pretty much okay with it. The vehicle I'm leasing I'd never in my life want to own out of warranty, so leasing actually makes financial sense (insofar as it's financially sound to own this particular vehicle at all, that is).

 

[BuffNiag]

Just so I know, when does the disaster start?

 

[Blimey]

Just so I know, when does the disaster start?

See the thread on Ginsburg missing oral arguments. Hinges on that.

 

[tapper3]

See the thread on Ginsburg missing oral

Oh, God, bleach, I need bleach.

 

[repete]

My wife and I are debt free and I believe that right there is a BIG benefit for being secure in bad economic times! Avoid needless debt, Take advantage of company sponsored 401K programs. I also put a lot in a Roth IRA , that may not be wise in the future as the gooberment needs money and may decide to tax it again! Silver and gold? Yeah I've been buying some over the last few years. Cash is king! Lot of places give cash discounts if you ask, we drove out to Ca. and back and almost every place we stopped for gas (and we stopped a LOT 10MPG!!) gave us a cash discount if they didn't we used a card. We ended up more than filling the motor homes 50 gallon tank for free. It's a great feeling to be able to just write a check and pay the tax bill or what ever and not worry if it's going to bounce.