The best investment strategy, financially and emotionally

Tina S
By Tina S on Wed, May 20, 2015 - 1:57pm

Nomi Prins' great PP article today says "The best investment strategy, financially and emotionally, may be taking some money out of the markets as they bump around, reducing individual debt loads even if that means paring back, and remaining nimble."

So I am preparing to take The Great Leap that I've been mulling for years and here's the bare bones:

1/3  acre productive homestead with $68K mortgage at 6.25%. In southern Puget Sound.  (Just installed a mushroom garden!). Didn't refinance because I was considering moving or selling half of the property.

$101 K in Edward Jones, good old Mom thought Jones was great.  I've had terrible experiences with them.

$36K in TIAA-CREF, annuity I think.

63 and single.  I hope to retire after 11 years with WA state govt in two years.  Just got long-awaited promotion with 3 years of back pay so will be able to get out of all non-mortgage related debt next month.

SO... move from E Jones to my credit union?  pay off Citimortgage (!!!) and then transfer the rest post-tax hit into Vanguard? gold? my TIAA-CREF account? CD with WA State Emp Credit Union?  Losing Jones and Citimortage in one move is so sweet, but I certainly don't have the financial chops to really know how to handle all this.  And I don't really understand what the tax consequences will be but I do see very clearly what the consequences of staying in Jones will be sooner or later. SO GLAD I subscribed to PP two months ago, I have found a community!  Thanks for all the wisdom.

4 Comments

Pedalnica's picture
Pedalnica
Status: Member (Offline)
Joined: Dec 21 2015
Posts: 1
Current portfolio..

Just bought 14 acre farm in Nicaragua with house, off- grid for permaculture project. Fully paid.

Another 1/3 of assets in gold and silver.

Got  $115K sitting in a savings account in the bank and I'm not sure what is the best way to protect it? Probably need another $15K for investment for my business in Nicaragua. Thinking of just having $20k in cash. That leaves a good portion in bank which just doesn't seem wise to me. I'm afraid of bail-in of banks in the next crash? 

Any suggestions?

Michael_Rudmin's picture
Michael_Rudmin
Status: Platinum Member (Offline)
Joined: Jun 25 2014
Posts: 831
Yes

Spend your money to make a self sufficient village on your farm, using growbiointensive methods: labor intensive, not oil intensive. Make yourself a non-money based economy that is enough to support several families, which already were local kids (and presumably marry mostly locally too).

It's too hard to buy real friends: you have to make them.

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 654
Hi Nicaragua: Welcome to Paradise

Pedalnica.  #1.  I wouldn't be so open to publicize all your monies on the web, even here--just prudence.  Maybe talk in terms of %s would be better.  I'd personally have some metals in Hard Assets Alliance in Zurick, for diversification--playing it safe.  Michael's comments above are excellent.  I'm also trying to follow those suggestions: try visiting me at www.AwarenessCenters.com in Costa Rica, and click onto PHOTO GALLERY.  We're neighbors now. The other day I plugged in Yoga in Costa Rica and discovered over 40 yoga-related places--incredible!!  If we add the organic farms and the small beginning "communities," something is happening there.  $ in banks, both in Nicaragua and the USA??  You might be better off building a VERY secure bodega, cement with metal, etc., with solid metal door and 3-fold lock, UNDER YOUR CONTROL.

Key also and VERY important is to develop solid relationships with locals, especially if you can befriend at least one that is trustworthy and responsible, or maybe another ex-pat, with metal container for storage.  Or even get a small one (8 x 8 ft) for yourself. An excellent and trustworthy LAWYER is crucial, just ask around, as there are many scams there, so I've heard.

Anyway, WELCOME.  Hope we get to meet one day.  Ken And LOTS of LUCK!

hydrodog's picture
hydrodog
Status: Member (Offline)
Joined: Apr 14 2008
Posts: 22
bail in... if they come

Will probably not effect smaller accounts....spread your bank money around .

The best however is to remove all
assets fromsystem ...reverse fractional reserve banking... Help force the end sooner while protecting yourself. Rather have a few productive assets than money in the system.
With real inflation . much greater than bank returns... Then throw in therisk of loss better to bury cash in the woods

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