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Never heard of Maloney until Chris's interview with him the other day. But went to his site and watched, among other things, him compare the price of gold to the Schiller median home price index. It made the choice of PMs over real estate an easy one right now. You might direct your friend to that.
This is a great conversation. I too am wrestling with the OPs question. So far we have taken roughly 50% of our non-retirement savings and used it to mitigate future energy price increases by installing a geo-thermal ground source heat pump system and a 3.5 kW PV system. We've also used a bit of $ to put in a garden, chickens, and energy efficiency appliances and start accumulating some silver.
I've recently moved our retirement accounts from stock heavy funds to much more conservative vehicles but have decided not to incur the early withdrawal tax penalty. So I feel like I'm sort of "middle ground" as the OP put it.
my biggest struggle now is what to do with the rest of our non-IRA money. After watching the accelerated crash course and some of Mike Maloney's stuff, I'm really tempted to convert it all into either PMs or preps. What's holding me back is the fact that I retired from the military a few years ago and only work part-time these days. I do now have multiple income streams but my total income is much lower. I suppose it's not entirely logical but it makes me anxious to think that I would have no "fiat" banked away if/when we need it.
Congrats on taking the plunge! We've been chicken owners for 2 years now and are definitely glad we made the move. I predict you will be too.
we have a variety of chickenbreeds but one of our reds and our orpington have both already raised chicks. It's quite fun to watch that process.
Tapeguy, wow those are cheap, about 10% of the price of the Simple pump! Thanks for providing another alternative. My fear, of course, is that the cheap price means a poor product. It looks like you put one of these in nearly two years ago. Would you mind sharing a little more of a review?
what prompted the purchase and convinced you it was worth it? How difficult was the installation? And how has it performed?
It is unfortunate but I believe things as PV panels (and some of the others mentioned) could make one a target if the SHTF. Even in a less dramatic scenario, they could look pretty tempting to thieves. Heck, guys have been stripping out and stealing copper piping for years now.
That said, I think the reward outweighs the risk. If the SHTF would you prefer to be a potential target or would you prefer to be without water, food, power, etc. As a previous poster mentioned, one can take steps to make oneself a hard target.
FWIW, I've been very happy with the ROI on my PV system so far. I should hit my payback point at about the 13 year mark. And that is in the unlikely scenario in which electricity prices do not rise over the next decade.
Thanks for the replies and the ideas. I had considered a well bucket. Lehmans has a nice one for $69. Obviously the price is right. I guess it's just a matter of how bad I think things might get.
If we suffer, most likely in my mind, an economic collapse that result occasional grid outages, then it's not a big deal, as my generator will take up those periods. If we suffer hyperinflation that makes using energy to run my well pump super expensive, I'm covered by my grid-tied solar PV system.
It's the TEOTWAWKI situation where we'd be in trouble. (Wouldn't we all?) I do think such a scenario is very unlikely but certainly possible. A well bucket would allow us to drink enough to stay alive but would not be practical, hauling water up 80-90' by hand to use for watering our garden and animals.
So I suppose it is a matter of just how much I'm willing to pay for "insurance." Right now I'm leaning towards the well bucket. I will look into the Flojak more, though, it seems to do what a Simple Pump will do, but at about half the price.