What Can I Do On A Fixed Income?

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jessme's picture
jessme
Status: Member (Offline)
Joined: Feb 18 2009
Posts: 13
What Can I Do On A Fixed Income?

Please excuse me if I am not doing this right, but I am very concerned and want some feedback on this.

 I know that we are approaching peak oil, and that we are also headed for a financial breakdown, either minor or major, and I tend to believe the latter. The problem is that I am on a fixed and set income, and my sole source of income is the govt. How far away would all of you think a govt. collapse is?

I am doing things I can, stocking on food a bit, same with water (along with some bleach to purify water if needed), planning on starting my first 'serious' garden in a few weeks, am saving up a bit each month to get a hunting rifle, and will also be buying a bicycle as soon as I can afford to.

 What really concerns me is not having even a rough knowledge of how long it will be until I am no longer able to get that govt. check. I cannot hold down a job for any realistic period of time due to my disability, and would like to know what would be good to see if I can come up with and set aside to use as barter if necessary. And also I need to know if anyone has at least a rough idea on how long it could be until the govt can no longer send checks so I can do the best I can to plan accordingly.

Also, since all I get is one check direct deposited to my bank account, should I still take what little I do get and split it up and put some of it into an account from a different account? (I use B of A). Should I buy gold, even if I can only spare between $35 to $75 a month to do so? And where should I buy gold from?

I live in a small rural town with the nearest city in any given direction at least an hours drive, or 40-60 miles away. Is that a good place to stay? I think it is, but want some feedback on this.

Your input and help in this matter would be greatly appreciated.

 

jessme

 

csdj-2313's picture
csdj-2313
Status: Member (Offline)
Joined: Dec 19 2008
Posts: 1
Re: What Can I Do On A Fixed Income?

jessme, 

It sounds like you are already doing a lot.  Your garden is a great start.  Seeds are cheap and sweat is free.  Once you start harvesting the fruits of your labor you will feel healthier from eating wholesome, unadulterated food and you will have some extra cash after your visits to the grocery store.  You can use this extra cash for more preparations such as your rifle or bicycle.

I personally do not worry much about when the government will collapse.  Just prepare as quickly as you can.  In my humble opinion (IMHO) it will be a slow collapse (I'm know that many disagree with this).  Years of inflation and hyper inflation.

IMHO you should buy silver, not gold.  $35 - $75 per month will get you 3 to 6 ounces of silver a month but it wiuld take you 2 years to get one ounce of gold.  By then, what will the price be?  You may never save enough for an ounce.  I am a fan of 90% silver coins (pre-1964 U.S. coins) in a SHTF scenario.  Ther are easily recognized and accepted.  You can find small amounts on e-Bay but be careful not to pay too much.  Also gold prices have risen much higher (percentage wise) than silver.  Silver is a better value and that is all you can afford.

I think your biggest need is knowledge and skills that would be useful after a government collapse.  I personally have always loved woodworking.  So I have slowly accumulated hand (non-powered) tools and learned how to use them.  Learn something new constantly.  Try something new every year.  Try raising chickens as they would be a great sourse of food and income.  Learn, learn, learn.  The library is free.

Like you, I also live about an hour from large cities.  Would I like to be further away?  Yes.  But I have invested too much in my humble 3 acres to relocate.  I have a large garden that has wonderful soil after years of added manure and other organic fertilizers.  I have fruit trees that are starting to bear fruit.  I have planted nut trees that will bear in about 5 more years.  I know where the wild edibles are in the area surrounding me.  I could be raising chickens in just a couple of weeks.  I have a well with a hand pump.  Most important, I know my neighbors.  I have a relationship with them and I know their strengths and weaknesses.  Yes, I'm sure there are safer places to live but I think that it is better to make the best of what you have, especially if you have limited income.

Hope this helps, Chris

EndGamePlayer's picture
EndGamePlayer
Status: Platinum Member (Offline)
Joined: Sep 2 2008
Posts: 546
Re: What Can I Do On A Fixed Income?

Hi jessme-

Here's my thoughts:

Yes, for the most part- grow food and put it away (dried food lasts longest). Save seeds to share with others as they will find your lead to be a good idea. 

No for the gold thing - gold won't feed you and will make you a target if found trading, also, governments have been known to confiscate all gold in hard times. Yes to buying things needed in the long term - and having stuff bought when cheap will be better than gold if hyper-inflation hits. That's my opinion and not the norm here since most are still trying to make some money in this bad economy.

Stay in the lower populated areas and build groups of others who learn to grow food and store it. If Entitlements do end, then being in a group is safer than trying to solve problems on your own.Think together about a planned move to a state that can manage its budget if you live in one that can't. Those states may have the hardest time keeping support systems in place.

Stay safe and best of luck. I wish I could help others to do what it took us years to accomplish but all I can give is advise. 

EndGamePlayer

 

Linda K's picture
Linda K
Status: Bronze Member (Offline)
Joined: Aug 23 2008
Posts: 56
Re: What Can I Do On A Fixed Income?

Morning jessme and welcome

Now that you're here you could browse the forum topics (try general discussions for a start) or use the search capability in the upper right. There's a lot of information already posted on exactly your questions. Permaculture, gardening and where to live discussions abound, tools to begin to gather on a budget, where to buy silver or gold (I'm on a silver budget too). Stick around. No one's got a fool proof timetable but everyone's got an opinion and sharing is the name of the game.

jessme's picture
jessme
Status: Member (Offline)
Joined: Feb 18 2009
Posts: 13
Re: What Can I Do On A Fixed Income?

Thanks for the helpful info...it has given me a good place to start. Taking up a useful skill is something I have thought about, and am thinking that knitting or sewing might be good, and the latter probably isn't that hard to learn. I will look into silver and things to trade that might be useful..like something as basic as salt, for instance. Not that many people know how important salt is until it is no longer thre.

 I will check out the general information area; thanks for the suggestion.

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