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

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

  1. #1
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    Do you consider a financial nest egg as essential to prepping?

    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?

  2. #2
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    Best 2 pieces of advice I've ever heard...…….

    "Don't put all your eggs in one basket" AND "All things in moderation"


    Basically the same, just said different.
    Honkerhunteronhoth and Annie like this.

  3. #3
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    Quote Originally Posted by JustAnotherNut View Post
    Best 2 pieces of advice I've ever heard...…….

    "Don't put all your eggs in one basket" AND "All things in moderation"


    Basically the same, just said different.
    Yes and money like all things is a resource that can be cached in multiple locations for a “rainy day”.
    JustAnotherNut likes this.

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  5. #4
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    Well, I also have a plan. I follow my neighbor when he goes out to bury his gold...

    Truth be told, for decades I brought my paychecks home and gave them to my wife--my dad recommended I do this. I now live in a great home, we have no bills and I get to buy toys now and then.

    I have four pairs of boots--no kidding! I'm going to start selling off my knives simply because I'm embarrassed by the hoarding! If I get arrested, I spring my own bail with pocket change! I have a polished "Homefront" blade just to open the mail!

    I even use "Bill Clinton Toilet Paper." Sure, it's 89 cents a roll where the generic stuff is 29 cents. But I figure the smile is worth the tariff...
    ...No matter where you are it's enemy territory...

  6. #5
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    I consider financial stability necessary at all times. Big part of that saving in many forms. You prepare like S will hit the fan any time but also keep going in life like it never will.
    New life as a house husband, major shift in duties.

    Karl Marx said, "Destroy their culture, rewrite their history. Ruin their art and literature, and defame their heroes, by offering fabrications to scandalize that which they considered good.
    After reading this Obama said I am on it.

  7. #6
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    Quote Originally Posted by Smitty901 View Post
    I consider financial stability necessary at all times. Big part of that saving in many forms. You prepare like S will hit the fan any time but also keep going in life like it never will.
    “Pray for the best but prepare for the worst”.

  8. #7
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    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.
    Last edited by jimcosta; 01-05-2020 at 12:45 PM.
    Slippy and Honkerhunteronhoth like this.
    Our Survival Group Website: Hidden Content

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    I consider Shelter, Water, Food, Defense, Medical, Tools, Skills, Financial, Health, and Other Stuff Too Many To List all part of being prepared!

  10. #9
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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.
    That last line could end up getting a lot of people in trouble long term.
    Saving, living and prepping can be the same. This farm was something we consider necessary for us as a prep and a good investment for the future. It has proven to have been a very good move. Income from it and not wasting that income provided a very secure future financial and as a prep. It has worked out so well we do not even list the farm as an assets in our retirement plan. Of course it is but we do not use it as such. It was not easy for a long time but paid off. Big mistake some preppers make is planning short term only. You need to look at both.
    Last edited by Smitty901; 01-05-2020 at 12:57 PM.
    New life as a house husband, major shift in duties.

    Karl Marx said, "Destroy their culture, rewrite their history. Ruin their art and literature, and defame their heroes, by offering fabrications to scandalize that which they considered good.
    After reading this Obama said I am on it.

  11. #10
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    Smitty: Please explain.
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