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17 Feb ’12
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It would seem to me that a 401k, Roth, IRA or a simple savings account would be worthless in a true SHTF scenario. Would it be smarter to sink your money into real estate? A friend of mine has a self directed IRA that he uses to purchase real estate. When he gets ready to retire he plans to sell everything and cash out. I figure its a smarter approach than banking on the stock market or a 401K because you have a physical property that you own rather than paper that could be worth significantly less if anything if our economy goes the way of Zimbabwe and inflation explodes.
Basically, it just seems that if everybody is planning for an apocolypse of some sort, wouldnt it be smart to aquire physical goods such as land, equipment, guns, ammo, food, livestock, security items, fencing etc???? I would hate to have my whole life savings evaporate if a world war or financial collapse occurred. I wouldnt have anything of value to exchange for goods or services.
What is everyones opinion on this?
15 Feb ’12
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Multiple pieces of land to start.
From there finding a way to get garden food production humming. I mean really working, almost without your help. Then do this at any and all plots you have.
I would then not mind having something like 20k in .22lr ammo for trading purposes only.
Most important of all, the ability to pump water from the earth when needed. Without it....good luck. You can covert all kinds of things into water containers but without being able to pump it fresh from underground, you will die of Giardia eventually.
15 Feb ’12
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land is a good bet, depending on how our new camp goes, thinking about doing it over and over, buy cheap property, throw on inexpensive camp, put on market, rinse and repeat
7 Mar ’12
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Land is a good bet if it produces something for you. If it's farmland and produces a crop, then you can augment it's costs over time. You can sub-let it to a farmer and take a share of the crop. If you get timber, fishing rights, mineral rights etc, you can establish revenues from it. If it's commercial real estate, then the asset produces cash flow. If you live on the land, farm it, and produce food, security, shelter, comfort, then it's another type of investment entirely.
If it's a long term investment that you intend to sell as a retirement asset, then it traps your cash flow, and the only way to extract money is to re-fi or sell, which can depend on the market conditions at the time you need money. This is a money in, but no money out type investment, and probably not that great if you are worried about a SHTF scenario. It's more of a long term savings plan with a better potential upside 30 years down the road. In SHTF, land ownership won't mean as much, as you'll be responsible for defending it on your own.
The scenario changes if you're talking about buying property for building a Bug Out home, which serves a different investment scenario. In this case, you're buying piece of mind through a certain type of self-insurance policy if things go really sideways.
17 Feb ’12
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Some good posts so far.
I'm only asking because it would seem that having your retirement money in the stock market or in a 401K would make you 100% dependent on our economy not crashing. If it did you would be toast and working until you die. I'm wondering if having a self directed IRA that you can purchase a farm with someday would be the best retirement plan. If you could find a 100 acres or so with an already established farm on it including the buildings and the farm necessities, that'd be a smart move.
22 Feb ’12
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I'll have a pension when I retire as long as the economy doesn't shit the bed too badly. I plan on learning more on investing in the market and real estate as well. Currently I'm doing a lot of reading on the subject and plan on learning as much as I can over the next year or so before I start getting into it. I hope to buy my first rental property next year and go from there. I also want to buy a business that doesn't require me being there much, like a laundromat.
These things will help me with money but as far as a SHTF scenario its ammo, guns, food, training, etc that I'm worried about.
17 Feb ’12
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I'll have a pension as well and I've worked in real estate investment for the past 5years. My main concern is having a 401K or similar and having it evaporate. With everybody here being likeminded, I'm just curious about what everyone is doing to plan for retirement with a potential crash in mind.
15 Feb ’12
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Ive had an IRA for like 5 years. I stopped putting money into it a while back. In those 5 years I can honestly say it never made me any real money. Nothing. Once Im done with college I may look into something like that again.
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