Marine Cpl
.577 Tyrannosaur.
You got it kid. The society has to be civilized.
What’re you doing for the upcoming economic disaster?
- Thread starter DoD1776
- Start date
BDinPutnam
.475 A&M Magnum
Hence bricks.
And semiconductors.
Good luck rebuilding your precious society without them, hahahahahaha!
masterswimmer
.450/400 Nitro Ex
If i recall correctly there has never, ever been an EMP attack, a zombie apocalypse, or an end of the world event. All of which would validate your worthless precious metal argument.
On the other hand there have been numerous economic events that have all been recovered from, with flying colors no less. During these events precious metals have all been useful for barter or tender for consumer goods.
I don't believe anybody here has advocated to construct a portfolio of 100% exclusively precious metals. A sound diversified portfolio should include 5-10% precious metals.
YMMV but you'd be going opposite the investment advice of many successful investors.
diversify.
10% chance this is the beginning of the greatest depression in history and the S hits TF. At that point you want as much in precious metals including lead and brass as possible on an off the grid Homestead with solar power, a well, livestock, a large garden plot and enough tools and supplies to make the Amish jealous.
90% chance things will be A-OK in a few months or years and anyone who buys stocks now while they "are on sale" will reap significant gains and come out ahead.
The trick is for us peasants we don't really know what will happen all we can do is play the odds. That's why I say diversify. Hedge against your bets on the most likely outcome in the event that you were wrong.
Don't go "all in" one way or the other.
Just my .02 cents. Either way no matter which way it goes you will have resources devoted towards that outcome.
10% chance this is the beginning of the greatest depression in history and the S hits TF. At that point you want as much in precious metals including lead and brass as possible on an off the grid Homestead with solar power, a well, livestock, a large garden plot and enough tools and supplies to make the Amish jealous.
90% chance things will be A-OK in a few months or years and anyone who buys stocks now while they "are on sale" will reap significant gains and come out ahead.
The trick is for us peasants we don't really know what will happen all we can do is play the odds. That's why I say diversify. Hedge against your bets on the most likely outcome in the event that you were wrong.
Don't go "all in" one way or the other.
Just my .02 cents. Either way no matter which way it goes you will have resources devoted towards that outcome.
Robin
.475 A&M Magnum
You would be wrong.
Robin
Deplorable Me
.700 Nitro Express
To think, I have propane to my lawn sprinklers.
spat
.700 Nitro Express
I'll stockpile ramen noodles for trade, which I will gladly exchange for gold and silver to a poor soul who doesn't have anything to eat.
Personally I'll have enough food for me and mine to make it until something like a new economy begins to develop, and that gold and silver will surely be worth something again.
Teotwawki won't last forever.
Blimey
.450/400 Nitro Ex
Nothing surprising has happened recently, so nobody should be surprised. I am down many thousands in unrealized losses in the stock market now, but I don't much care. I am very close to buying more stocks with what little I had in bonds. My overall approach remains the same as always. Assume I will live several more decades and the US will still be around, so I dump the majority of my money into investing (mostly equities, via index funds).
I have a just in case as well with food, protection, and ways to cook the food.
If the market drops another 30% what I just wrote above is still entirely in play except for the fact I will have already moved all my bonds into stocks in the anticipation of a recovery and new highs, whether they happen in one year or ten.
Threads like this have been around for many years. Anybody who responded to the last stock market crash by going all metals and ignoring stocks got absolutely crushed in the past decade. Assume the future is like the past. Normally it is, so by all means stock up on ammo and rice, but your main prep should be stocks
I have a just in case as well with food, protection, and ways to cook the food.
If the market drops another 30% what I just wrote above is still entirely in play except for the fact I will have already moved all my bonds into stocks in the anticipation of a recovery and new highs, whether they happen in one year or ten.
Threads like this have been around for many years. Anybody who responded to the last stock market crash by going all metals and ignoring stocks got absolutely crushed in the past decade. Assume the future is like the past. Normally it is, so by all means stock up on ammo and rice, but your main prep should be stocks
masterswimmer
.450/400 Nitro Ex
Nothing surprising has happened recently, so nobody should be surprised. I am down many thousands in unrealized losses in the stock market now, but I don't much care. I am very close to buying more stocks with what little I had in bonds. My overall approach remains the same as always. Assume I will live several more decades and the US will still be around, so I dump the majority of my money into investing (mostly equities, via index funds).
I have a just in case as well with food, protection, and ways to cook the food.
If the market drops another 30% what I just wrote above is still entirely in play except for the fact I will have already moved all my bonds into stocks in the anticipation of a recovery and new highs, whether they happen in one year or ten.
Threads like this have been around for many years. Anybody who responded to the last stock market crash by going all metals and ignoring stocks got absolutely crushed in the past decade. Assume the future is like the past. Normally it is, so by all means stock up on ammo and rice, but your main prep should be stocks
Yup..... as I've been saying.
Catskillkid
.450/400 Nitro Ex
Am I worried about another recession/depression in the coming year or even a SHTF or TEOTWAWKI scenario? Sure, it could happen and I wouldn't be surprised if it did. I'm also still planning on making the maximum contribution to my Roth IRA in case those things don't happen (and they probably won't).
I know several people on here have read "Surviving the Economic Collapse" by Fernando Aguirre and I suggest anyone who hasn't read it to get a copy. What happened to Argentina could very well happen here and it would be earth shattering, yet life would still go on and while having a healthy stash of guns/ammo, MREs, etc. wouldn't be a bad thing, having solid investments, relationships, and business opportunities would be just as good if not more important.
I know several people on here have read "Surviving the Economic Collapse" by Fernando Aguirre and I suggest anyone who hasn't read it to get a copy. What happened to Argentina could very well happen here and it would be earth shattering, yet life would still go on and while having a healthy stash of guns/ammo, MREs, etc. wouldn't be a bad thing, having solid investments, relationships, and business opportunities would be just as good if not more important.
Marine Cpl
.577 Tyrannosaur.
I guess it boils down to what level of collapse you will prepare for.
Those of us that don't have fuck you money, probably can only realistically prepare for total collapse and stock up on food, tools, ammo, clothes, ect.
Those of us with fuck you money can prepare for both.
In my opinion just buying a few hundred or thousand dollars in gold and silver really isn't going to help much in a partial collapse like a depression. That few hundred or thousand will go fast with inflation and price gouging and the money wasted on it could have gone to more food, ammo, tools, etc. to feed yourself since you can no longer afford to buy food.
I think you need tens of thousands at the very minimum if not hundreds of thousands if you are more fortunate to survive a depression or partial collapse to remain financially intact. A little bit of gold and silver isn't going to do much. It'll actually hinder you.
Those of us that don't have fuck you money, probably can only realistically prepare for total collapse and stock up on food, tools, ammo, clothes, ect.
Those of us with fuck you money can prepare for both.
In my opinion just buying a few hundred or thousand dollars in gold and silver really isn't going to help much in a partial collapse like a depression. That few hundred or thousand will go fast with inflation and price gouging and the money wasted on it could have gone to more food, ammo, tools, etc. to feed yourself since you can no longer afford to buy food.
I think you need tens of thousands at the very minimum if not hundreds of thousands if you are more fortunate to survive a depression or partial collapse to remain financially intact. A little bit of gold and silver isn't going to do much. It'll actually hinder you.
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Change your name to BFinPutnam and change your avatar to this:
It would make me very happy.
BDinPutnam
.475 A&M Magnum
Make a deal, see if it's worth my while.
I'll also need contractor bags. Lots, and lots of contractor bags. And 47 good sized wooden pallets.
I'll also need contractor bags. Lots, and lots of contractor bags. And 47 good sized wooden pallets.
Eddie Gunks
.338 Win Mag
I have over 1,000
Ok. send @stokes the $87 and send me the rest. I am better prepared to miss-allocate it than you are.
stokes
.338 Win Mag
$913 will buy a lot of thai stick,eh?
meketrefe
.450/400 Nitro Ex
Spend a summer with the Amish. ...working of course.
I have over 1,000
At your age and with all that has happened to you over the last year or so, you should be proud to have saved that amount! I promise you, there are grown-ass men on this forum that do not have that in savings!
I spend stupidly. I would have a lot more if I didn’t.
masterswimmer
.450/400 Nitro Ex
You're young. If that's the way you feel, amend your spending habits. It's not like you're 50 y/o and you're saying that about the last 30 years of your life, which btw I'll bet many on this forum are now saying.
I've directed this to you in the past, you have time on your hands. The question is, will you learn from this and be better (for yourself) for it?
Jmac00
.475 A&M Magnum
If I had invested just 30% of what I drank, smoked and partied away in the '70's (I'm 64) I would have retired 5 years ago. 
stokes
.338 Win Mag
I got a question for Dayten.What "upcoming economic disaster"?
Blimey
.450/400 Nitro Ex
If Dayten has $1000 saved now and invests $400/month for the next 30 years, he will end up with $500k. That's based on historical market returns AFTER inflation. I.e. apples to apples; $500k equivalent in today's dollars.
The average net worth of a retirement-age american is extremely low because they spend their entire life time living pay check to pay check. Almost anybody can find, say, $400/month to just put away. Eat out a bit less, maybe don't get that new truck so often, etc. It's not at all hard to do.
A guy making $40k/year probably lives pay check to pay check. A guy making $80k probably does as well because almost everybody grows into their income and spends accordingly. Then they get up to 60 years old and bitch about how hard it is to live in today's society, blame the government for taxes, blame blame blame, when the truth is most of the blame falls on them. If every 25 year old started putting 10% of their income, come rain or shine, into an S&P 500 index fund, by the time they hit 60 they can retire, doing their cruise a couple times/year, spend the rest of their time doing whatever, camping RVing whatever the hell they think retirement should be. Instead most spend their life going out to eat all the time--"oh, we're too busy to cook!"--buying a $45k SUV when their household income is $60k/year, $250 household cell phone bills, etc. and all the other stupid things people do with their money.
I know with some of you I'm preaching to the choir and with some of you I'm just ranting
masterswimmer
.450/400 Nitro Ex
If Dayten has $1000 saved now and invests $400/month for the next 30 years, he will end up with $500k. That's based on historical market returns AFTER inflation. I.e. apples to apples; $500k equivalent in today's dollars.
The average net worth of a retirement-age american is extremely low because they spend their entire life time living pay check to pay check. Almost anybody can find, say, $400/month to just put away. Eat out a bit less, maybe don't get that new truck so often, etc. It's not at all hard to do.
A guy making $40k/year probably lives pay check to pay check. A guy making $80k probably does as well because almost everybody grows into their income and spends accordingly. Then they get up to 60 years old and bitch about how hard it is to live in today's society, blame the government for taxes, blame blame blame, when the truth is most of the blame falls on them. If every 25 year old started putting 10% of their income, come rain or shine, into an S&P 500 index fund, by the time they hit 60 they can retire, doing their cruise a couple times/year, spend the rest of their time doing whatever, camping RVing whatever the hell they think retirement should be. Instead most spend their life going out to eat all the time--"oh, we're too busy to cook!"--buying a $45k SUV when their household income is $60k/year, $250 household cell phone bills, etc. and all the other stupid things people do with their money.
I know with some of you I'm preaching to the choir and with some of you I'm just ranting
Great advice. I'm one of the choir
Both of my kids are fiscally responsible too. Learned from their old man. Pay yourself before you start paying off someone else's mortgage!
Avoid debt. Raise and save cash. My sense is the stock market is in for a period of retrenchment and consolidation for the next 1-2 years. I don't advocate any "end of the world" strategies. No need to stock up on a yesrs supply of food or provisions. Do stock up on enough for 1-2 months as that is prudent in any scenario (weather or otherwise). It's always good to have plenty of ammo but hundreds of thousands of rounds is excessive if not cost prohibitive. If you have enough cash for 12 months of living expenses then start putting money aside for longer term investments. Sooner or later the stock market comes back. Find a low fee S&P 500 fund and start putting money in it. Just my 2 cents.
FrankenCub
.338 Win Mag
Let me add to what @GOPerfect said. There are grown-ass men on this forum who spend stupidly, so..... lmao
You're still in good company.
Curmudgeon
.308 Win
Based on another thread, Viagra might not be a bad option.
pjzwtl
.308 Win
Doing better than I was at your ageI have over 1,000
pjzwtl
.308 Win
Me personally I am avoiding new debt and working towards an early mortgage pay off so I am free of it before I consider retirement. That small tax deduction ain’t worth shit against a little piece of mind.
Here's an article from today
Dow Drops 519 Points Because the Market Has Bigger Problems Than Just Apple
Dow Drops 519 Points Because the Market Has Bigger Problems Than Just Apple