Can we have a thread about what the hell to do right now?
🗣️ DISCUSSION 💬
First of all, I'm an idiot when it comes to anything financial. I know many of you aren't. What is the safest thing to do with the money (fiat) that we do have right now? Leave it in our local bank? Credit union? Keep it as cash in my sock drawer? Also, the money in my 401k? Switch it over to bonds or something else I don't fully understand? Any thoughts from someone who's been paying better attention to these things than I?
I don't know about anybody else, but I have had a couple of pay checks come in all at once and I now have enough to pay the second installment of my real estate taxes that aren't actually due until the end of July. I'm going to pay those today. This is, of course, after having food and other items on hand. If cash is going to become even temporarily worthless in the near future--then in my mind, use it on what will continue to have value while you can. Pay any bills that if left unpaid could jeopardize your well-being: utilities, real estate taxes, fuel up the vehicles, fill your freezer and pantry, etc. I'm probably being overly cautious with the RE taxes, but I'd rather have that bill paid if suddenly our bank accounts get drained and my money to pay it is gone.