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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; Originally Posted by Inor It's Opie!!! Where is Rice when we need him?!? Opie, Steve, Dupman, Rab, JFW or any of those boneheads they all ...

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

  1. #31
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    Quote Originally Posted by Inor View Post
    It's Opie!!!

    Where is Rice when we need him?!?
    Opie, Steve, Dupman, Rab, JFW or any of those boneheads they all think they play the best sock game around LMAO!
    "The clever cat eats cheese and breathes down rat holes with baited breath." W. C. Fields
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  2. #32
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    Quote Originally Posted by hawgrider View Post
    No I don't do man hugs but you may as well fess up with your actual user name now that we all know your a sock and where your from(Canada most likely or maybe Olemiss ).
    The Land of Brown and Gold and where "Steamboat" can be found in mass.

  3. #33
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    Quote Originally Posted by hawgrider View Post
    No I don't do man hugs but you may as well fess up with your actual user name now that we all know your a sock and where your from(Canada most likely or maybe Olemiss ).
    Canada would explain the language differences in word choices, phrase structure, etc
    Last edited by MountainGirl; 01-07-2020 at 10:54 AM.
    hawgrider likes this.
    ~~~~~~~~~~~
    Not even that.

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  5. #34
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    Quote Originally Posted by MountainGirl View Post
    Canada would explain the language differences in word choices, phrase structure, etc
    The percentage is high on the "leafs" from that forum.
    "The clever cat eats cheese and breathes down rat holes with baited breath." W. C. Fields
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  6. #35
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    Quote Originally Posted by jimcosta View Post
    Yes and No.

    If you have no savings or nest egg in the form of home equity, 401K or pension (excluding SSI or pension you cannot borrow against), then the answer is no.
    How can you miss something you didn't have to begin with that you could have saved from losing?

    But if you do have a savings or nest egg that you can possibly save then you need to save it! It will give you further reason to survive what may be a most suffering situation.

    P. S. In case you don't know, as of January 1, 2020, you can withdraw unlimited funds from your 401(k) type pension without having to prove "hardship" as was required before. I do not know if that rule applies to some other types of pensions.

    P. S. #2: Get your money out of the banks any way you can as they plan to do bail ins with perhaps half of your balance there. May I suggest you invest in physical things you can protect like U. S. Silver Eagle Dollars.


    No shite on the hardship loans? I cant stand jumping through their hoops to get at MY MONEY
    RIP Corporal BRADLEY COY 6/18/1992-10/24/2014

  7. #36
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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.
    I heard one less intelligent statement than the one above one time, . . . I think that some trans retard said he/she/it , . . . voted for Hillary.

    Yeah, . . . it was dumber, . . . but not by much.

    When the event you named happens, . . . Campbells pork n beans will be the currency, . . . that paper in your billfold won't even start a good fire, . . . and if you are buying gasoline from me, . . . don't think about bringing your sorry gold coins, . . . or silver bars, . . . they don't even make good fishing weights.

    May God bless,
    Dwight
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    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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  8. #37
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    Different preparedness philosophies are evident here to be sure, and likely planning for different potential events as well. The pdf I posted a link to above is a study from the cold war, not just some think tank researchers opinions, but over 200 references cited on why they came to the conclusions that they did. Maybe 'next time' it'll be different, but history often rhymes.

    My point in bringing this up is to reinforce the importance of gold’s Fear Trade, which says that demand for the yellow metal rises when inflation threatens to destroy a nation’s currency—as it’s doing right now in Venezuela. A Venezuelan family that had the prudence to store some of its wealth in gold would be in a much better position today to survive or escape President Maduro’s corrupt, far-left regime.

    In extreme cases like this, gold could literally help save lives.

    Such was the case following the fall of Saigon in 1975. If not for gold, many South Vietnamese families might not have managed to escape the country. A seat on one of the thousands of fleeing boats reportedly went for eight or 10 taels of gold per adult, four or five taels per child. (A tael is slightly more than an ounce.) Gold was their passport. Thanks to the precious metal, tens of thousands of Vietnamese “boat people,” as they’re now known, were able to start new lives in the U.S., Canada, Australia and other developed countries.


    But escape from Venezuela (legally anyway) doesn't come cheap:

    Venezuela has been suffering from shortages of food, medicines and other basic goods for many years now. The lack of passports is just one of them. The legal price of a passport in Venezuela is 18 bolivars, or $0.30 (£0.23) at the black market exchange rate. However, tired of waiting, some Venezuelans choose to pay for the service of officials who can speed up the process for $1,000, at the very least. A prohibitively expensive amount for most Venezuelans,given the monthly minimum wage is $18.

    Not to suggest money is always the only thing you need, just that in some cases it might be the best single item to have. Jews using gold to escape Nazi Germany for example, bugging in for them wasn't really an option. And what separates an vacationer/immigrant from a refugee? Money.

  9. #38
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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
    Yes, when we least expect it. Then Bam!
    Something will hit. There you go.
    "Who is She that comes forth as the morning rising, fair as the moon, bright as the sun, terrible as a army set in battle array?"

 

 
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