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Do you consider a financial nest egg as essential to prepping?

This is a discussion on Do you consider a financial nest egg as essential to prepping? within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; Nope nothing here. Like I'll be able/need to buy anything once the SHTF....

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Thread: Do you consider a financial nest egg as essential to prepping?

  1. #11
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    Nope nothing here. Like I'll be able/need to buy anything once the SHTF.

  2. #12
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    Quote Originally Posted by Chipper View Post
    Nope nothing here. Like I'll be able/need to buy anything once the SHTF.
    That might not be true, as a window might exist before everybody realizes that things are going to drastically change.

  3. #13
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    I know of a few people who believe being in debt is the way to be. They argue that if a SHTF event occfurs, it'll due away with all debt. When we were young and first married, we got into debt due to credit cards. After taking care of that debt, we never allowed it to happen again. Pay off the credit cards IMMEDIATELY. The only debt we carried since 1976 was our house, now paid off and 2 cars, because they had 1.5% interest deal (was less than we made on savings). As of 2011, debt free. It's a great feeling.
    I feel a stash or ready cash is imperative. You never know when you'll need bail money. A SHTF event may be a slow builder and allow you time to purchase additional supplies, if you have the cash. Besides, you never know when you'll need it for toilet paper.
    I really want one of these!Hidden Content

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  5. #14
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    Short answer, yes.

    Longer answer, I don't consider preparedness as a wholly separate activity from my normal daily living as I think some preppers do. I use money (of some form) every day, and likely will every day for the rest of my life, so it's a good idea to have some put aside for what was often referred to in the past as a "rainy day", but what today we might call "SHTF". We have Federal Reserve credits in banks, brokerages, and 401k/IRA accounts, and some US currency and PMs that is kept nearby and under our control. If I lived outside the US, I'd probably keep both the local and US currencies in addition to PMs. Not having money/currency is like betting that taxes and greed won't exist anymore post-SHTF, and I don't see either of those as likely.

    Even in the worst case scenarios, or shortly thereafter, there will be trade, barter, and markets. https://apps.dtic.mil/dtic/tr/fulltext/u2/a216447.pdf
    Honkerhunteronhoth likes this.

  6. #15
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    Quote Originally Posted by Honkerhunteronhoth View Post
    Do you folks consider having a financial nest egg as something that is important to prepping? We all discuss having things and stuff stored away, but what about having some Denarii in the bank and a “hill billy” stash for just in case? For some folks a disaster could be the bank screwing up pay day, and having to wait a few extra days. Are you willing you save up money or do you think it is better invested in other preps?
    I believe in a balanced portfolio.

    With at said, I’m betting that the US economy will hold up well enough for me to retire in reasonable comfort. I’ll finally have time to shoot all this ammo up. I’ll be able to break in guns that have hardly seen a box of ammo. I can’t wait.
    Deebo likes this.

  7. #16
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    Quote Originally Posted by KUSA View Post
    I believe in a balanced portfolio.

    With at said, I’m betting that the US economy will hold up well enough for me to retire in reasonable comfort. I’ll finally have time to shoot all this ammo up. I’ll be able to break in guns that have hardly seen a box of ammo. I can’t wait.
    It is looking good for 2020, and hopefully 2021??

  8. #17
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    Quote Originally Posted by Honkerhunteronhoth View Post
    It is looking good for 2020, and hopefully 2021??
    June 24, 1876 was a care free day for America.......... even for General Custer.

    Valentine's day 1898 was a care free day for America................. even for those on the USS Maine.

    May 6, 1915 was a care free day for America............. even for those sailing on the Lusitania.

    Dec 6, 1941 was a care free day for America............. even for those living in or near Pearl Harbor.

    "Looking good" is very much relative to what you do not know is going on. When you find out, . . . it very seldom is "looking good". Oh, . . . and their "cash stash" probably didn't do very many of them any good.

    May God bless,
    Dwight
    If you can breathe, . . . thank God.

    If you can read, . . . thank a teacher.

    If you are reading this in English, . . . thank a veteran.

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  9. #18
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    Quote Originally Posted by dwight55 View Post
    June 24, 1876 was a care free day for America.......... even for General Custer.

    Valentine's day 1898 was a care free day for America................. even for those on the USS Maine.

    May 6, 1915 was a care free day for America............. even for those sailing on the Lusitania.

    Dec 6, 1941 was a care free day for America............. even for those living in or near Pearl Harbor.

    "Looking good" is very much relative to what you do not know is going on. When you find out, . . . it very seldom is "looking good". Oh, . . . and their "cash stash" probably didn't do very many of them any good.

    May God bless,
    Dwight
    In the event of a very real and likely cyber attack or a power outage, the ability to use cash might come in handy when the financial sector is not working so well.

  10. #19
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    Quote Originally Posted by Honkerhunteronhoth View Post
    In the event of a very real and likely cyber attack or a power outage, the ability to use cash might come in handy when the financial sector is not working so well.
    Or the Zombie Apocalypse- HonkerhunteronHoth - Profile - Zombie Preparedness Wiki
    "The clever cat eats cheese and breathes down rat holes with baited breath." W. C. Fields
    You can find me at the Hidden Content

  11. #20
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    Quote Originally Posted by hawgrider View Post
    Yup the zombie/retard apoc.

    But somehow I think my odds would be better than yours! Insulin dependency has to be a challenge.

 

 
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