Prepping for the next finacial crash?

[Deeps]

Its all about attitude to risk.If I could afford a buy to let, I would do it.I have a pension coming in soon,and I may consider it.On the other hand my next door neighbour did this and it would make a good reality TV programme! It is solid and honest though.

Then there is the stock market.This seems to be where stupid money is made. I am not confident nor competent enough to play this particular game.It is also where the sharks seem to swim!

Then there are precious metals (PM's).Now as xplosiv1 said,these just store wealth.That is true.I am a fan of PMs.You buy them, they rarely lose value( for any length of time), but they are steady.

In Argentina in 2001 when they had their financial crash,after food,precious metals became The Daddy. Unless you had US Dollars - which was ' discouraged' by the gvt.

Right now though, anyone wanting to make? money,would be advised to buy non perishable foods, as inflation is running around 4%.So something purchased now at £1,next year will cost £1.04.Given that Sainsburys has forecast a 22%rise in food prices after Brexit,then food is a good deal!If you saved the same pound instead of spending it,allowing for the best rate right now it will be worth about 98.3 p!

Silver though had a high this time last year of 17.25%.It's slipped down by about 0.2%. However over the last two days its started to creep up again.
Your choice.

Totally and I sort of fell into it although I had a notion to do it at some point. I stopped buying when things went pear shaped in '08, I'm too much of a jessie to gamble on big things like this. I stopped with 3 which included my old flat which I remortgaged instead of selling to buy the house we're in now. I'd planned on having more but got scared. We were quite comfortable at the time and we were lucky that house prices kind of made it easy. Don't get me wrong, I think house prices are disgusting but it is what it is. I have no issue with some sort of rent control either for that matter. We're living in a fairly volatile time in a lot of respects so wherever you want to invest will have risks.

[itsybitsy]

Its all about attitude to risk.If I could afford a buy to let, I would do it.I have a pension coming in soon,and I may consider it.On the other hand my next door neighbour did this and it would make a good reality TV programme! It is solid and honest though.

Then there is the stock market.This seems to be where stupid money is made. I am not confident nor competent enough to play this particular game.It is also where the sharks seem to swim!

Then there are precious metals (PM's).Now as xplosiv1 said,these just store wealth.That is true.I am a fan of PMs.You buy them, they rarely lose value( for any length of time), but they are steady.

In Argentina in 2001 when they had their financial crash,after food,precious metals became The Daddy. Unless you had US Dollars - which was ' discouraged' by the gvt.

Right now though, anyone wanting to make? money,would be advised to buy non perishable foods, as inflation is running around 4%.So something purchased now at £1,next year will cost £1.04.Given that Sainsburys has forecast a 22%rise in food prices after Brexit,then food is a good deal!If you saved the same pound instead of spending it,allowing for the best rate right now it will be worth about 98.3 p!

Silver though had a high this time last year of 17.25%.It's slipped down by about 0.2%. However over the last two days its started to creep up again.
Your choice.

Yes, I am starting to bulk buy food now, in anticipation for the bumpy ride to Brexit!

[itsybitsy]

So are ppl buying up physical gold and silver? Seems a better idea than stocks and shares and other investments?

I buy it as a supplement to my pension.

[itsybitsy]

Right now though, anyone wanting to make? money,would be advised to buy non perishable foods, as inflation is running around 4%.So something purchased now at £1,next year will cost £1.04.Given that Sainsburys has forecast a 22%rise in food prices after Brexit,then food is a good deal!If you saved the same pound instead of spending it,allowing for the best rate right now it will be worth about 98.3 p!

I went to Heron on Monday, and I noticed prices have started to creep up in there. A pack of frozen quorn sausages had gone up from £1.50 to £1.69 in the space of a week. That's a 12.5 percent increase, so perhaps it's already filtering through. Also, the cottage cheese I buy has gone up from £1.05 a tub to £1.09.

[diamond lil]

Week by week food prices are rising, anything got in bulk now will help a bit. Losing debt is the number one prep for hard times though.

[Arwen Thebard]

Some interesting thoughts on this thread I must say.

Real estate is always a good long term buy both for short term income and long term asset appreciation value. But bricks and mortar tend to keep you in one place which can be a problem in a SHTF scenario. We got shot of our props a few years ago now (2005) , sold up, cashed in, moved abroad and travelled, now we rent.

Precious metals are another good call for wealth preservation, but while market manipulation seems to be rampant, especially with silver, its hard to make a decent return. Just make sure you have some small denomination coins or bars to hand as its not easy to split a 10oz bar.

No mention yet of crypto currencies? Bitcoin, Etherium, Litecoin, Ripple? Any reason? We got involved back in 2012 and havent looked back, its our biggest income source bar none. Im old now and its taken me a while to learn about it all but now ive got the idea its awsome. Ok its volatile and not for the faint hearted, but if you are into keeping some of of your wealth outside of the traditional banking system it certainly worth looking at. Im no expert compared to those young guns working in the field of crypto, but there are a lot of millionares / billionaires being made at the moment (Not me by the way). If making money is your thing you are probably into crypto already and im talking to the converted, if not its worth taking a look.

Food stocking I sort of understand, especialy if you know your storage routines and preservation rules. Could be the absolute best of all of them if an EMP or similar SHTF events happens.

Its funny what you think is highly valueable one day is worthless the next day, and visa versa......

Water purification / treatement is my secret bet.

[jansman]

Arwen Thebard wrote:
No mention yet of crypto currencies? Bitcoin, Etherium, Litecoin, Ripple?

From a personal point of view,I have no interest,nor knowledge of those things.Tbh,it makes me think back to the early 2000's and the 'dot com bubble'.It was all new then,relatively speaking.Just like this crypto currency thing.When the bubble burst back then,commentators said that it was like "The King's New Clothes".

I get a LOT of bitcoin related spam.To me that screams "dodgy".I have just looked the subject up, and in the first two paragraphs are three warnings about the risk of deposit loss! 'Nuff said.

If it works for you,all well and good.We live in a free society, its down to personal choice.My choice is to have physical, tangible assets.My bricks and mortar,owned free and clear,real cash and precious metals.Also the land my property is on,upon which I grow and rear a lot of food.More important to me than any get rich quick investments ( and I include the traditional stock market there,not just this latest scheme).

If you cannot touch it or hold it,then it ain't yours.

[nickdutch]

interesting video on the UK economy.
http://positivemoney.org/2017/10/uk-household-debt/

[jansman]

Sorry I forgot: Arwen Thebard wrote:
Food stocking I sort of understand, especialy if you know your storage routines and preservation rules. Could be the absolute best of all of them if an EMP or similar SHTF events happens.

Food storage is one of the cornerstones of prepping,worldwide. You," sort of understand "- you sure you are serious about prepping?

[Arwen Thebard]

I was thinking about food storage for use in barter / value scenario. I totally understand its value in terms of our own prep storage, but dont know about using it as a wealth item. We try to rotate our food stock as we go, so Im not sure what I would stock up on that would be most valuable, but def worth thinking about though.