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This is a discussion on Investment question within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; Originally Posted by Slippy
I'm convinced The Lord does not intend for me to be wealthy...
You are six feet above ground and I am ...
You are six feet above ground and I am presuming in good health. If that is the case you are rich.
Originally Posted by Slippy
I am no genius when it comes to money and the markets but I don't see things getting better. We are digging the whole deeper and eventually the sides will cave in on us. The election wont matter. Going into the next few months I look for more chaos so I am considering moving half my retirement to cash in the next couple of weeks. Before my wife passed she was on me to pull the trigger on this but I was hesitant. I don't think I want to wait much longer. I've added to my cash on hand reserves here at the house but if this whole thing goes sideways I am not sure how good the paper will be except for maybe lighting fires.
" All great things are simple, and many can be expressed in single words: Freedom, Justice, Honor, Duty, Mercy, Hope" .Hidden Content
The whole elephant in the room here is that NOTHING is safe. The stock market could crash. Bonds could go into default. Cash faces inflation and all the problems with fiat currency. Real estate isn’t safe now with covid and folks unable to pay rent. Progressive leaders are apt to declare rent hollidays and other policies to screw landlords. Precious metals are in fashion now but I believe these markets are manipulated and relatively easily controlled by “the big boys”.
To add insult to injury, social security is basically bankrupt already, pension funds (if you’re lucky enough to have one) are underfunded and invested in the same stocks and bonds that may soon crash. What’s a poor boy to do?
Fitch Revises United States Credit Outlook To "Negative"
...citing "ongoing deterioration in US public finances and the absence of a credible fiscal consolidation plan..."
I sold lot October 2016 expecting Hillary to win; not a good move. I've since moved back into the market and done well but avoided some sectors like healthcare. I'm going to hold this election.
Hey Prepared one...
Originally Posted by Prepared One
I think youre right about markets and stocks being very iffy/unstable.
the other thing I worry about cash is inflation...
they've printed 6 trillion dollars of stimulus money... and are about to print another trillion or three.
youre cash may devalue quite a bit ...
you may want to diversify some of it in other things.. gold silver
I work in finance. No one knows what the crazy train is going to do. It's been bastardized by options and short selling long before this happened(RONA). Day traders pull the stock up down and sideways. No investment advisor will say by this do that. Just put you in models. To be honest the best thing you can do is out your money in consumer staples and forget about it. Buy your Amzn, your msft, your aapl, but your jnj, and camblles. Thrown in a financial stock or two like boa. I'd even do some Raytheon. Set it and forget it unless you hear news. Buying gold and silver isnt any good. Ask your self if you have these physicals, what will you do with it if the market crashes? Who will ypubsell it to, who's bartering for gold and silver when you need sugar and flour? Precious medal investing imo is a scam that prays on the old and survivalists. If you really want to divest and are worried about a market meltdown then get some molar bags and store flour and salt and sugar. Cigarettes will be a good one too. Again just my opinion.
I'm curious what you do in finance?
Originally Posted by Krackentoa
Preppers and stocks are not a match made well. I can relate to many posts in this thread on some things with a lot of partial truths to them.
US Econ over printing, spending, and it canít go on! I first read it in 1994 in a book called something like the Great Reckoning by James Davidson I believe. It was touted that revolution in Mexico was also inevitable.
Derivatives, mutual funds, ETFs will be the death of us all was one I read a lot about in 2010.
Precious Metals especially the ETF version are worthless, but even the physical you canít eat. (Doubt they taste well)
Someone posted a list of stocks to buy and forget, and said in the same post no advisor says buy this or that. I guess he is right. My clients donít expect me fromĒsayĒ buy this or that they have me do it for them and report to them what Iím doing, Iím engaged in their accounts and mine daily but I am not a day trader Iím a value buyer. We look for undervalued stocks due to their worth, growth, profits etc. I focus on about 120 stocks, ETFs and glance at others for consideration when something warrants it. We also trade the market some.
Right now we have uncertainty which negatively impacts the market yet itís at near record highs. That bothers me. Weíve done beyond the norm well in the last 20 months so weíve taken our profits and ran for now. I still have about 90% of the stocks I had 20 months ago, but Iíve taken all the profit out. That is because those companies 20 months ago were a good value and still are. I just donít trust it enough to leave such gains on the table. If we made nothing in the next 16 months, our 3 year return would still exceed goals and expectations.
Prepping makes me feel secure. Sustainable living makes me feel secure. I canít have an AR here but I can a pump shotgun, a lever rifle and I have other options that make me feel safe and secure and none of my stocks do. So I get the disconnect between preppers and stocks. Stocks are for the great norm we enjoy. Prepping is for a world where by we donít care about stocks anymore. We live in the one we enjoy, and we prepare for the other.