Looks like my preps are going to be needed soon - Page 9
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Looks like my preps are going to be needed soon

This is a discussion on Looks like my preps are going to be needed soon within the General Talk forums, part of the General Discussion category; Tangible assets people, Tangible assets, If you believe that you can take your weekly pay check and give it to a guy in a three ...

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Thread: Looks like my preps are going to be needed soon

  1. #81
    Senior Member


    Join Date
    Jan 2013
    Location
    Ionia County
    Posts
    2,608
    Tangible assets people, Tangible assets,

    If you believe that you can take your weekly pay check and give it to a guy in a three piece suit, that lives far away, that you have never met, and you are going to retire 40 years latter, you are a FOOL.

  2. #82
    Senior Member


    Join Date
    Mar 2013
    Location
    Now in AZ
    Posts
    8,788
    If I pull all my money out and stash it, will I look like a all the others and be able to collect food stamps, medicaid, section 8 housing and welfare?

  3. #83
    Senior Member


    Join Date
    Mar 2013
    Location
    SE WA.
    Posts
    6,086
    Keeping the cash - in a mattress or a tin can buried out back will do you no good if inflation explodes. I suggest taking your savings and buy silver. It will at least keep up with inflation and won't be damaged by fire, water or mice. If you take money from your 401K or IRA then you pay a 10% "early withdrawal fee" and it is taxed based on your present tax bracket. It is likely that you will lose over 30% just withdrawing it.
    On the other hand - you will only lose 30% of it............




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  5. #84
    Senior Member


    Join Date
    Dec 2012
    Posts
    4,373
    5 years ago I suffered the personal SHTF of business failure. Had to close my store, lost $250,000 and 4 years of 7 days a week work. I was lucky that I moved my IRA out of stocks before the crash. Being unemployed, beat and angry I learned to live with less and on much less. I started hunting again. Growing food for the first time, and bought a house after the crash that I could afford and moved "down" off my high horse. I started learning and you know what KNOWLEDGE can be free thanks to this WWW thing. I learned about the self directed IRA, moved mine into it and bought a 640 acre parcel in the Nev Dessert next two two that my dad already owned. I was able to spend $30k from my IRA improving 84 acres into row crop with irrigation and leased it out. That produces a nice tax free return right into my IRA. It'd be pretty hard for them to gather anything out of my self directed IRA. I can spend the rent money on any land improvements I want!
    Tundra Dweller likes this.

 

 
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