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Started By
Message
re: Serious question about long term planning.
Posted on 4/12/14 at 7:20 am to jsquardjj
Posted on 4/12/14 at 7:20 am to jsquardjj
I appreciate the serious advice so far.
As far as the smart aleck comments (I expected) let me clarify again.
1. I am not talking about going underground and living in a bunker. Not talking about prepping or anything like that. If it gets to that, I would rather be dead and with my maker.
2. I am not talking about selling everything to live underground or rent. I am talking about selling all the expensive things I own and buying a much smaller and cheaper home that I would not care if I had to walk away from it and let it rot.
3. I am talking about using the equity I have in my home, office, condo to put a nest egg of cash/metals that I can access if I need to go to another country to practice medicine.
4. Again, not talking about living life as a hermit or recluse. Wife is on board with a simplified life including smaller house, etc.
5. Do not watch FoxNews. Have not watched since they cancelled Hannity and Colmes which I thought was the only good political show on TV. Now all it includes is Obama bashing.
6. Do not care about Obamacare. I think it is a mistake to replace greedy corporations with an even more greedy government but that is a topic for another thread. Obamacare has no impact my income or practice at all. Without giving details, I do not deal with medicaid/Medicare etc.
Again, thanks for the serious advice. I was really snooping for ways to protect and access resources if the economy crashes. Just like it did in the Great Depression in America. It has happened before so it is not radical to think our borrowing habits could cause it again. In fact, I think many other countries will be fine and I would want to live there. (IF it happens). But for now, this country has been great for me and is the best place I could hope to live if nothing gets worse. I am not gonna move away or hide in a hole waiting for the end and miss out on a great life I have built for myself. I just wanted advice on how to be more liquid when if it all goes down.
As far as the smart aleck comments (I expected) let me clarify again.
1. I am not talking about going underground and living in a bunker. Not talking about prepping or anything like that. If it gets to that, I would rather be dead and with my maker.
2. I am not talking about selling everything to live underground or rent. I am talking about selling all the expensive things I own and buying a much smaller and cheaper home that I would not care if I had to walk away from it and let it rot.
3. I am talking about using the equity I have in my home, office, condo to put a nest egg of cash/metals that I can access if I need to go to another country to practice medicine.
4. Again, not talking about living life as a hermit or recluse. Wife is on board with a simplified life including smaller house, etc.
5. Do not watch FoxNews. Have not watched since they cancelled Hannity and Colmes which I thought was the only good political show on TV. Now all it includes is Obama bashing.
6. Do not care about Obamacare. I think it is a mistake to replace greedy corporations with an even more greedy government but that is a topic for another thread. Obamacare has no impact my income or practice at all. Without giving details, I do not deal with medicaid/Medicare etc.
Again, thanks for the serious advice. I was really snooping for ways to protect and access resources if the economy crashes. Just like it did in the Great Depression in America. It has happened before so it is not radical to think our borrowing habits could cause it again. In fact, I think many other countries will be fine and I would want to live there. (IF it happens). But for now, this country has been great for me and is the best place I could hope to live if nothing gets worse. I am not gonna move away or hide in a hole waiting for the end and miss out on a great life I have built for myself. I just wanted advice on how to be more liquid when if it all goes down.
1
Posted on 4/12/14 at 9:48 am to SECdragonmaster
The kind of crash you are concerned about would almost certainly be accompanied with a major devaluation of the US dollar. If that is the case, you don't want cash you want assets (as in a big house is better than a small house). You will be able to trade assets back for a lot more of the devalued currency or the all together new currency.
People tend to want to prepare for mass pandemonium, but a situation more like Russia after the Soviet Union collapsed is far more likely. I am not saying it is likely, but total anarchy is way less likely. If the dollar collapses the value of assets relative to one another will be much more constant than there value relative to dollars. You will still use currency to trade from one asset to another, but you would not suffer the losses of those that were holding the currency.
People tend to want to prepare for mass pandemonium, but a situation more like Russia after the Soviet Union collapsed is far more likely. I am not saying it is likely, but total anarchy is way less likely. If the dollar collapses the value of assets relative to one another will be much more constant than there value relative to dollars. You will still use currency to trade from one asset to another, but you would not suffer the losses of those that were holding the currency.
This post was edited on 4/12/14 at 9:50 am
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