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?
Though I watch them, I have disliked the financial markets for decades. I don't like the gyrations and want to be able to set and forget.
I've always been a precious metals and Treasuries sort of person. Right now, the shorter term Treasuries yield about 5% on an annualized basis. That's what I got at auction today. I've always viewed Treasuries as the last refuge. If they go under, the rest of the country's gone under.