When the bottom falls out

[Docscurlock]

Read this line by an interesting guy in another post who is currently angry with me but I thought it was some words of wisdom. " One day, the bottom is gonna fall out...and both sides of the political aisle will be equally to blame. The truth is out there if you are willing and motivated to find it..."

My question is; What should we do to prepare for the day these politicians screw things up so totally bad the bottom falls out? I love my cars and remodelling my garage but obviously it is not a cheap hobby. Where do you guys put your money for investment? Coffee can, Stock market, mattress, bitcoins, gold? Where can we save money for the future that won't get either taken away by the socialists or stolen by the capitalist banks?

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[Interceptor]

Out of control inflation is usually the biggest issue.
Stocks will take a dump at some point
Good and silver, well not do sure how that's gonna work out
Interest rates will surely rise
Cash, with inflation you will lose actual value

How to prepare? I'm no economist, or have knowledgeable experience to answer this question. So I look to nature.
1. Debt free as possible
2. Money in the bank, money in the cubbard
3. Home mortgage paid atleast 6 months ahead
4. Make sure all major appliances are less than 5 years old so they will not need replacing.
5. Catch up on all medical test, exams etc...

Not really a whole lot you can do as far as investment strategy. One way to game the stock market is to have cash on hand to buy stocks when they do crash, then years later you will make good gains. The gamble to sell stocks, is when to sell stocks, pay taxes on gains and have ready to reinvest.

My personal biggest suggestion is cut monthly debt, build savings for remaining bills, food.

 

[Docscurlock]

Out of control inflation is usually the biggest issue.
Stocks will take a dump at some point
Good and silver, well not do sure how that's gonna work out
Interest rates will surely rise
Cash, with inflation you will lose actual value

How to prepare? I'm no economist, or have knowledgeable experience to answer this question. So I look to nature.
1. Debt free as possible
2. Money in the bank, money in the cubbard
3. Home mortgage paid atleast 6 months ahead
4. Make sure all major appliances are less than 5 years old so they will not need replacing.
5. Catch up on all medical test, exams etc...

Not really a whole lot you can do as far as investment strategy. One way to game the stock market is to have cash on hand to buy stocks when they do crash, then years later you will make good gains. The gamble to sell stocks, is when to sell stocks, pay taxes on gains and have ready to reinvest.

My personal biggest suggestion is cut monthly debt, build savings for remaining bills, food.

I actually think stagflation like from 2005-2016 is what we will see. Stock market takes a dump, slow road back to the highs taking years, wage stagnation, poor consumer confidence and low consumer spending/saving. I agree debt free as possible, house paid off or paid ahead. Cut spending, not sure about money in the bank, it seems to go nowhere. Gold and silver likely to dump in value with the rest of the commodities, so buying now probably not a good idea. Cars, not a good investment. I think having cash in hand (your physical hand) might be the best route. I know you lose value to inflation but commodities seem to tank first. It's all a big guessing game.

 

[Hack]

I think it's a fool's game to try to out think some of this. Much better to live your life and assume that nothing too crazy is going to happen. I have a relative that built a missle shelter. That was wasted money. Well - I could say maybe it was worth it for him if he felt better having done it - but there are a lot of other more enjoyable things he could have done with that money.

 

[Rapid Red]

Out of control inflation is usually the biggest issue.
Stocks will take a dump at some point
Good and silver, well not do sure how that's gonna work out
Interest rates will surely rise
Cash, with inflation you will lose actual value

How to prepare? I'm no economist, or have knowledgeable experience to answer this question. So I look to nature.
1. Debt free as possible
2. Money in the bank, money in the cubbard
3. Home mortgage paid atleast 6 months ahead
4. Make sure all major appliances are less than 5 years old so they will not need replacing.
5. Catch up on all medical test, exams etc...

Not really a whole lot you can do as far as investment strategy. One way to game the stock market is to have cash on hand to buy stocks when they do crash, then years later you will make good gains. The gamble to sell stocks, is when to sell stocks, pay taxes on gains and have ready to reinvest.

My personal biggest suggestion is cut monthly debt, build savings for remaining bills, food.

Good sound logic and commons sense, have no debt. Is the best position to be in.

Pep

 

[Docscurlock]

I think it's a fool's game to try to out think some of this. Much better to live your life and assume that nothing too crazy is going to happen. I have a relative that built a missle shelter. That was wasted money. Well - I could say maybe it was worth it for him if he felt better having done it - but there are a lot of other more enjoyable things he could have done with that money.

How could you go wrong with a missile shelter? Took me forever to spell missile right.

 

[Docscurlock]

So maybe a better question is, with the current political instability we have right now where is the best place to park our retirement pennies?

 

[EcoVert]

One of the parties will grab power and the political status quo will continue. Sure we the little people will pay the price while the rich life time politicians live a life of ease. Just look at how Kim Jong-un lives while his people stave that could be us.

 

[EcoVert]

So maybe a better question is, with the current political instability we have right now where is the best place to park our retirement pennies?

Unfortunately there is no safe place

 

[Interceptor]

Oh where to put the money, ummm.... Ask yourself, how much do I want to leave to my relatives. That should tell you if you need to be aggressive or conservative in your investing.
I plan on dying poor so family won't be fighting over my inheritance.

 

[Rapid Red]

How could you go wrong with a missile shelter? Took me forever to spell missile right.

ROTFLMAO, when I was young it was fall out shelters .......... somethings never change..... DDSS

Pep

 

[Hack]

How could you go wrong with a missile shelter? Took me forever to spell missile right.

I didn't think I had it right, but I was too lazy to look it up. How could you go wrong with a missile shelter? You could have bought a Mustang and a bunch of track days with that money rather than buying a hole in the ground. My relative passed away years ago and the missile shelter didn't help him at all during his life.

So maybe a better question is, with the current political instability we have right now where is the best place to park our retirement pennies?

So, I should go back on what I said before. You are asking good questions in my opinion. I just don't know how to get around the things that can go wrong and I'm not sure whether it's worth the time.

Not owing money could actually be bad for you in the future. Remember when Obama was talking about taking everyone's retirement accounts? So, you are careful with your money and save really hard for retirement and then boom the government just effing takes it from you. And the Dems have moved much farther left in their ideas just in the last 4 years. Obama almost looks like a Republican now. I still save to try to make sure I will be comfortable if I'm allowed to keep that money, but I draw a line on how much I save based on this. And I also spend every penny that isn't set aside for retirement savings or my emergency fund. I feel that there's a political party out there (and many of the pubic) that thinks if you saved your money and are careful with it that you are rich and your money should be taken away and given to them. I think it's ok to own a house and a car, but I don't see a problem with having loans. My main thing is making sure I have enough equity that if I did lose my job I could sell the car and get out of the loan payment if necessary.

As far as political instability, it seems to me like the instability is a friend to the people. Our normal, stable two party system is pushing us farther and farther away from freedom and the founders' ideals. I don't know if Trump will be reelected, or if there are others like him out there, but I see him as an example that it's possible for the downward slide to at least be slowed if not halted.

 

[Docscurlock]

I didn't think I had it right, but I was too lazy to look it up. How could you go wrong with a missile shelter? You could have bought a Mustang and a bunch of track days with that money rather than buying a hole in the ground. My relative passed away years ago and the missile shelter didn't help him at all during his life.




Not owing money could actually be bad for you in the future. Remember when Obama was talking about taking everyone's retirement accounts? So, you are careful with your money and save really hard for retirement and then boom the government just effing takes it from you. And the Dems have moved much farther left in their ideas just in the last 4 years. Obama almost looks like a Republican now. I still save to try to make sure I will be comfortable if I'm allowed to keep that money, but I draw a line on how much I save based on this. And I also spend every penny that isn't set aside for retirement savings or my emergency fund. I feel that there's a political party out there (and many of the pubic) that thinks if you saved your money and are careful with it that you are rich and your money should be taken away and given to them. I think it's ok to own a house and a car, but I don't see a problem with having loans. My main thing is making sure I have enough equity that if I did lose my job I could sell the car and get out of the loan payment if necessary.

As far as political instability, it seems to me like the instability is a friend to the people. Our normal, stable two party system is pushing us farther and farther away from freedom and the founders' ideals. I don't know if Trump will be reelected, or if there are others like him out there, but I see him as an example that it's possible for the downward slide to at least be slowed if not halted.

I think you are bringing up some valid points, that's why I asked the question. I guess my plan at least right now is to try and ride the wave higher on the stock market and if Trump were to be removed from office or God forbid we end up with a socialist in office, I will sell half for cash and put it in a coffee can. Maybe some gold and Silver bullion. In the meantime, you are right, live life like it's your last day but save a little in case it ain't. I try to live my life like my Sig says, wealth is not his who has it but his who enjoys it.

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