What should I do …….
….a very common attitude which might be summarized as “we’ll deal with that when we get there.” I detect this attitude in a wide range of individuals and market participants so it’s not at all uncommon.
I just quoted Dr. Martenson from his recent report. I face a similar problem and am looking for advice from members on the forum….
1. No one believes my ideas to buy property in rural areas and start prepping for sustainable living are sane, here in India. Even after watching CM’s Crash Course.
2. Currently I save most of my salary (which i have invested my first year’s salary as i came out of school), and only investment i know of are buying PMs but what do I do with rest of the money, since neither family nor my friends are with me sustainable living, so I have to somehow convince them.
Maybe some distressing event in economy will alert others! but until then I am being forced to buy a property in urban area as multistoried
buildings as well as their prices continue to skyrocket each day, which I fear I will not be able to sell off before prices go down due to
peak oil, hence loosing my investment there and I will be forced to pay monthly loan repayments to the bank still or I would rather
happily loose that urban house and move in with my parents in a small town.
so My question:
Apart from precious metals, which investment options do i have that can help me preserve my earnings?
What could be the best step for me here, where can i put my money where i can use it for later………. when i would really need it! I expec
it to be 2 years down the line………. senior members please advice……
Hello cipher—I see that no one has responded to your post; perhaps because the questions you ask are so broad in nature.
I will give some general comments, which I hope may help others who are also contemplating “what should I do?”
In general, I think you should direct your efforts and resources to increasing your resilience for the hard times to come. What you specifically do will be highly dependent on where you are located, what your present resources are, and what you think is going to happen in your specific location, when the hard times come. Only you know the answer to that.
Here are some questions you should ask of yourself:
How well you could handle a short-term disruption in your present living conditions? For instance, could you handle a week-long disruption without any externally provided water, food, or power? How about a month? How about longer?
How well could you tolerate a job loss for a month, or, for several months? Do you have any debt obligations that you would still have to pay, and, for how long could you keep that up?
How long would it take before you would need to sell your PMs or properties to sustain yourself if either of the above scenarios happened?
Based on this, you could probably think of other scenarios more specific to your environment, such as illness, transportation disruptions, etc…, and self-assess your vulnerability.
Your answers to these questions will help to guide you as to whether or not it makes sense for you at this time to be investing in property in urban or rural areas, or buying PMs. Perhaps there are more basic issues that you should take care of first. Perhaps not.
Its just my opinion, but I would think long and hard about implementing any plan of action that requires you to take on new debt obligations, and, if you have outstanding debts, I would seriously consider retiring those debts as soon as practical, while at the same time building up your resilience at least against short-term problems.