Monday, September 22, 2008

SHTF: Banking meltdown - What to do?

So many of the investment banks and financial companies are melting down. Many of us saw it coming years ago and stopped putting money into overpriced, venture capitalist run, non-producing companies years ago.

So what does a pre-apocalypse investor do with their savings, investments and carefully hoarded pennies do?

Disclaimer: I am not an investment adviser or professional. If you routinely take financial found on a blog, you should really turn over control of the purse to someone else.

What do I do with my money?

I like cash.
I pay for almost all of my every day expenses, (groceries, gas, etc) with cash.

I like precious metals. Nope, I am not an obsessed gold bug or silver bug, rather, I like having a cash equivalent denomination I can spend literally anywhere in the world. Drop a hat and I can cash in a roll of pre-1965 silver U.S. quarters at a jewelry or coin store and instantly have cash to pay bills with.

I like tangibles. I like having my house paid for. I like having a full pantry, a full gas tank and a working garden out the back door. I would rather have something real I can eat or consume right now then a something I hope will be around in the next 20 years.

It works for me. You do what works for you and yours. But let me say this. Having worked in business my entire adult life, there is a glut of dishonest people who have wormed thier way into the business world whose only skill is the ability to appraise and gut a perfectly good company in an astonishing amount of time.

Consider working for yourself if possible. At least you will like your boss.

2 comments:

Miserly Bastard said...

Dont forget at least some firearms (with training), and a large store of common caliber ammunition. As I'm fond of saying, optimists buy gold, pessimists buy bullets. If things go sideways, ammunition is both a barterable commodity, and an essential tool in your toolkit.

John said...

MB,

that goes without saying. But depending upon how things turn out in November, I don't plan on letting the wrong side know what sort of things someone *may* have in their house which *may* be considered dangerous.

BTW - I have no plans on bartering in firearms or ammunition. Unhappy customers have a habit of returning them the wrong way.

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