My contract job ended back in September and I've been looking for work in this sour economy. There aren't all that many jobs in the are for senior PLC engineers, windows server admins, component level repair technicians, etc... so picking have been really sparse.
My wife and I have no debt. i.e. no house or car payment and no credit card debt. With her income and what I am bringing home in unemployment (first time in 26 years of working) we are holding our own. Heck we are are supporting my oldest son who has a degree in architecture and can barely find a minimum wage job. It is hard to get hired when you are way overqualified for a job.
We knew my contract was ending early last year so we started stocking money away in savings. With the uncertainty of the future (we see a bleak 2010) we have been discussing whether or not to put use some of our savings to purchase more tangible assets that will hold their value if things go south. Immediate plans are to get at least one bee hive going with 2 movable chicken coops although those expenses are pretty low. My other thought is to pick up a pair of rifle kits for 2 AR lowers that I have laying around. I can get a .223/5.56 and 7.62x39 rifle kit for them delivered for about $1,100. I already have one of each in the safe so there would just be extras just in case things went sour.
Money in the bank is one thing but the question that I ask myself is "what if hyperinflation hits?"
Any thoughts?
Purchase advice needed.
Moderators: mpallett, bakerjw, renegade, Hush
Purchase advice needed.
July 5th, 2016. The day that we moved from a soft tyranny to a hard tyranny.
I hear ya about how hard it is to find a job. My wife has a bachelors degree in criminal justice, and the only job she can find up here is a freakin' hotel maid. (other than a street cop, of course... but we're moving in 8 months)
Personally, I would hold onto that money and maybe put it someplace that has a higher interest rate, rather than buy tangible goods. But, I'm only 23 and although I manage my money pretty well, I wouldn't say I'd be giving solid advice.
Personally, I would hold onto that money and maybe put it someplace that has a higher interest rate, rather than buy tangible goods. But, I'm only 23 and although I manage my money pretty well, I wouldn't say I'd be giving solid advice.
"God is not on the side of the big battalions, but on the side of those who shoot best." - Voltaire
[url=http://s275.photobucket.com/albums/jj315/Montaska/Firearms/]My Photobucket[/url]
[url=http://s275.photobucket.com/albums/jj315/Montaska/Firearms/]My Photobucket[/url]
I've been putting my "investment" money into Canadian energy trusts with good solid dividends. For "savings" that I have on hand I buy pre-65 (Junk silver) silver coins from the local coin shop. No tax and it is all in cash.
It's always going to be worth something and when inflation starts to kick into high gear you are much better off. (My grandpa did well in the 70's with silver.) You are going to have a much easier time convincing the auto mechanic to take silver coins as payment than you are 7.62x39 ammo.
It is my opinion, and the opinion of other more important people, that silver is currently grossly undervalued vs gold. Silver has lots of industrial uses and there is a bit of a coming supply crunch that is the result of many years of low prices. Peter Schiff still says gold is grossly unerpriced, but I think that silver is even more underpriced. That is going to reverse when this temporary bump in the dollar turns around.
I would also maintain a decent stock of 22 rimfire for small game hunting should the need arise.
Whatever you do, don't put all your eggs in one baskit. Keep some in silver/gold, some in foreign stocks, some in long shelf life consumables.
I've been stocking lead for casting so if supply becomes an issue I'll be set for years. Honestly, I've been thinking of stocking up on toilet paper since the prices seem to be rising quite a bit and I can just stick it in the bathtub we don't use.
It's always going to be worth something and when inflation starts to kick into high gear you are much better off. (My grandpa did well in the 70's with silver.) You are going to have a much easier time convincing the auto mechanic to take silver coins as payment than you are 7.62x39 ammo.
It is my opinion, and the opinion of other more important people, that silver is currently grossly undervalued vs gold. Silver has lots of industrial uses and there is a bit of a coming supply crunch that is the result of many years of low prices. Peter Schiff still says gold is grossly unerpriced, but I think that silver is even more underpriced. That is going to reverse when this temporary bump in the dollar turns around.
I would also maintain a decent stock of 22 rimfire for small game hunting should the need arise.
Whatever you do, don't put all your eggs in one baskit. Keep some in silver/gold, some in foreign stocks, some in long shelf life consumables.
I've been stocking lead for casting so if supply becomes an issue I'll be set for years. Honestly, I've been thinking of stocking up on toilet paper since the prices seem to be rising quite a bit and I can just stick it in the bathtub we don't use.
"I'm not afraid of dying. I's HOW I die that I'm concerned about." - Crosshair
"Beware the man with one gun. He probably doesn't know how to use it."
"Beware the man with one gun. He probably doesn't know how to use it."
- jupiterdraft
- Silent But Deadly
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Moving may not be the immediate answer, but it is certainly worth investigating the idea of working in another market: for the right salary, being away from home M-F and returning on the weekends might be advantageous, at least to get through the coming months.
As for spending to save, I have little advice on that front.
As for spending to save, I have little advice on that front.
The gene pool needs a shock treatment!
Diapers & Politicians...
Diapers & Politicians...
- continuity
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- Location: Ohio
The long term away for the week, home on weekend "opportunities" just plain SUCK. Even if it is a 6 digit deal.jupiterdraft wrote: ... for the right salary, being away from home M-F and returning on the weekends ...
What amount of a man is composed of his own collection of experiences... and the conclusions that those experiences have allowed him to "know" for certain as "Truth"? :Ick