Im finding some good land and living off of it. While at the same time securing it so nobody tries to take my stuff or kill me.
Im finding some good land and living off of it. While at the same time securing it so nobody tries to take my stuff or kill me.
live off my gold
banditry
Sell short the SP500, just like the last time we had a Republican moron in the White House.
judgment day wrote:
Im finding some good land and living off of it. While at the same time securing it so nobody tries to take my stuff or kill me.
Are you really? Or are you just saying that?
Me, I'm going to do what everyone else will do. Lower my standard of living.
I will probably go out for a run.
Will stick to the Flagpole Plan - has never failed me yet!
The local soup kitchen is always an option.
When the U.S. economy tanks, you better have a better plan than having cash stashed and relying on the value of precious metals. Its all about a plan, food storage, drinkable water and weapons to defend yourself from those that don't have a plan, food storage and a location of land with drinkable water.
i just thought i should update you guys and let you know that skynet has become self aware.
l8r.
in case you didn't know... wrote:
i just thought i should update you guys and let you know that skynet has become self aware.
l8r.
Really? Holy $h!t, that doesn't give us much time. Where the heck is Sarah Connor? Maybe it's not too late to ask her to marry me.
wjc wrote:
Will stick to the Flagpole Plan - has never failed me yet!
And what exactly is the Flagpole Plan?
Go Somewhere else.
Becoming a pirate in Somalia.
"Over and under" and "side by side"
What is the Flagpole plan?NOTE: In this scenario of the US economy tanking in 3-5 years, I still would have 10 years before retiring for the economy to recover. If I had less time, I would do somethings slightly differently.Here's the plan:1) Emergency Fund set up of 3-6 months of expenses. IF you feel something bad is imminent, bump this up to 8 months.2) Debt free but for a mortgage that is no more than 25% of your take home pay (fixed rate mortgage only) in a house you plan to spend no fewer than 15 years in.3) Invest 15% of your income into good growth stock mutual funds within retirement accounts. The order is 401k up to the match first, then Roth IRA, then back to the 401k if there's anything left. You can do all index funds if you want, or you can split the STOCK portion of your investing evenly between growth, growth and income, aggressive growth, and international. 100% stocks until you are 35, then add some bonds if you like. Within 10 years of retiring you should have up to 30% bonds. At retirement, the level of bonds depends greatly on how much your pile is, but it shouldn't be LESS than 30%. 40% is probably best for most people.3) Want to invest MORE beyond 15% into retirement accounts? Either open a non-retirement mutual fund, or accelerate your payments toward your house to get it paid off sooner...or do both.4) Once you are COMPLETELY debt free (including owning a house outright), you can purchase individual stocks if you want. Never fewer than 5 stocks at a time, never more than 20% in any one sector, leave 1 hour per stock per week for research on whether to sell, hold, or buy more.You should NOT retire until you are completely debt free including owning your home outright, and once you are retired, you should not PLAN to go into debt. Now, if you upgrade a house to your dream house and you go some paltry amount into debt like $20,000 or something that you can clean up super quickly, then ok, but you should really not PLAN to be in debt in retirement. Why not? Well, people end up using their homes as ATMs and then the housing market tanks and they had an ARM that they now can't refinance because they are under water...no thanks...to deal with that ever is bad. When you're retired, you should not have stuff like that hanging over you.So, the economy tanks in 3-5 years and you are still 15 years away from retirement...what to do? Definitely don't sell your stock. Make sure your skills are up to date so you can compete for jobs. Be amenable to taking ANY job that pays the bills while things are bad. IF you have the ability to, if the market tanks, not only continue putting money in, but put MORE in...maybe in the non-retirement mutual fund so that you could get at it if you needed to (though of course with the Roth you can get at the contributions, but I'm not a fan of siphoning money from retirement accounts).
Inquiring wrote:
wjc wrote:Will stick to the Flagpole Plan - has never failed me yet!
And what exactly is the Flagpole Plan?
Flagpole wrote:
What is the Flagpole plan?
NOTE: In this scenario of the US economy tanking in 3-5 years, I still would have 10 years before retiring for the economy to recover. If I had less time, I would do somethings slightly differently.
Here's the plan:
1) Emergency Fund set up of 3-6 months of expenses. IF you feel something bad is imminent, bump this up to 8 months.
2) Debt free but for a mortgage that is no more than 25% of your take home pay (fixed rate mortgage only) in a house you plan to spend no fewer than 15 years in.
3) Invest 15% of your income into good growth stock mutual funds within retirement accounts. The order is 401k up to the match first, then Roth IRA, then back to the 401k if there's anything left. You can do all index funds if you want, or you can split the STOCK portion of your investing evenly between growth, growth and income, aggressive growth, and international. 100% stocks until you are 35, then add some bonds if you like. Within 10 years of retiring you should have up to 30% bonds. At retirement, the level of bonds depends greatly on how much your pile is, but it shouldn't be LESS than 30%. 40% is probably best for most people.
3) Want to invest MORE beyond 15% into retirement accounts? Either open a non-retirement mutual fund, or accelerate your payments toward your house to get it paid off sooner...or do both.
4) Once you are COMPLETELY debt free (including owning a house outright), you can purchase individual stocks if you want. Never fewer than 5 stocks at a time, never more than 20% in any one sector, leave 1 hour per stock per week for research on whether to sell, hold, or buy more.
You should NOT retire until you are completely debt free including owning your home outright, and once you are retired, you should not PLAN to go into debt. Now, if you upgrade a house to your dream house and you go some paltry amount into debt like $20,000 or something that you can clean up super quickly, then ok, but you should really not PLAN to be in debt in retirement. Why not? Well, people end up using their homes as ATMs and then the housing market tanks and they had an ARM that they now can't refinance because they are under water...no thanks...to deal with that ever is bad. When you're retired, you should not have stuff like that hanging over you.
So, the economy tanks in 3-5 years and you are still 15 years away from retirement...what to do? Definitely don't sell your stock. Make sure your skills are up to date so you can compete for jobs. Be amenable to taking ANY job that pays the bills while things are bad. IF you have the ability to, if the market tanks, not only continue putting money in, but put MORE in...maybe in the non-retirement mutual fund so that you could get at it if you needed to (though of course with the Roth you can get at the contributions, but I'm not a fan of siphoning money from retirement accounts).
Inquiring wrote:If the economy tanks, what good would it be to have stocks? Better to invest in land and guns.
And what exactly is the Flagpole Plan?
in case you didn't know... wrote:
i just thought i should update you guys and let you know that skynet has become self aware.
l8r.
Seriously, I saw an poster on a telephone pole for internet service. The company was called "Skynet".
We purchased a house outright recently--in a lower to middle income neighborhood. It's a rental now but if the world falls apart (we are self-employed), then we will always have a place to live that no one can ever take.
Don't ask me about food and utilities. Maybe chickens, a well and fire?
.Inquiring wrote:
wjc wrote:Will stick to the Flagpole Plan - has never failed me yet!
And what exactly is the Flagpole Plan?
Talk a bunch of nonsense while presenting oneself as a financial expert, effectively fooling quite a few naive letsrun posters