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 love all of the very good and diverse suggestions on this topic! to me, looking at this present situation we find ourselves in, one MUST consider that some of the personal variables would be different for someone in their 20's vs someone already retired...immediate needs of dependents would be primary concern, etc, so all of the suggestions are valuable and valid, but not a 'one size fits all'...just my opinion...
Yeah, it’s easy to say that people should go buy a bunch of precious metal, but that’s not possible for most, and it’s not the first thing they should be buying anyways. First and foremost is being able to survive the first few weeks. It’s -20 here right now. Food, water filtration, and having a place to keep warm are the critical pieces for me to have in place.