Financial goalkeeping continues for 2021. I finished off my desired annual goal for my emergency fund. That means that in the first three months of 2021 I hit my anual goals for my Roth, HSA, Emergency Fund, and silver stash. Next years goals will be to increase them all by 50%.
Since I’ve met those goals, I can now loosen up with my personal spending but, really, I’ll probably keep throwing money into things and get a head start on 2022’s goals. Not many people complain about saving too much money.
Just as well because with the current administration in charge, I have serious reservations about the economy. You don’t just manufacture $1.9 trillion and think it isn’t going to tip the inflationary scales a bit. “But Zero..if you believe an inflationary period is coming, then having money in the bank is the last thing you want!”, I hear you cry. This is true. This is why I won’t put all of whatever ‘extra’ money I have into cash in the bank (in the gun safe). It’ll go in the bank, in the gunmakers pocket, in the gold coin shops coffers, and in WinCo’s cash registers. And…perhaps…some landowners bank account?
It’s probably time to start putting away cash towards that ultimate survivalist must-have: a chunk of middle o’nowhere. That’s gonna be a serious amount of financial wrangling. But…hard to be a paranoid, right-wing, gun-crazed survivalist without a nice home in the boonies for people to label as ‘a compound’. Fortunately, of all the states in this fractured union, Montana probably has the most amount of realtors who don’t bat an eye when someone wants a piece of real estate that is inaccessable in winter, remote, and far from the madding crowd.
Rumor control reports a market correction coming soon. Buy the dip whether it be real estate, guns, metals, etc. Hyper inflation is a worry to be sure.
An economics professor long ago informed our class that the one group that benefits from inflation are those in debt because they are paying off expensive loans with cheap dollars.
Getting a loan for real estate at under 3% isn’t looking too bad about now.
If you think hyperinflation is on the way, and it is a distinct possibility, it’s the perfect time to buy land.
Buy now on credit with historically low interest rates, repay in a few years with hyperinflated currency.
That’s win-win.
There is no land in Montana that is inaccessible in winter. It is merely challenging to keep the Californians out.
I suppose that with determination, skill, and money there is literally no part of the planet that is inaccessible. However, I’m okay with ‘90% inaccessible’. And, as sentry gun technology develops, the remiaing 10% won’t be a worry.
Ha. Meanwhile Montanans send thier kids to Missoula or Bozeman. Correct 18yrs of bad think in 4yrs.
Good on ya for having goals and meeting them, especially financially. I’ve always found it comforting to have a pile of “stash” set aside.
I don’t trust the economy will make it thru the end of the year intact, the further this regime piles on unplayable debt the shakier it becomes. I expect an implosion on a grand scale.
Personal choice is silver cause I can’t afford gold. And remember, if you ain’t got it in your pocket, you ain’t got it period. All things based upon electricity for access, means when the juice dies, so does everything else you’ve slaved for years for…..
“repay in a few years with hyperinflated currency.”
yeah, I thought so too, but recently read a very well presented account of several hyperinflation events, and what actually happens is the debt gets redenominated or some other word that means “scaled to account for inflation” because the rentier class has access to lawmakers. Wish I’d bookmarked the article.
So I’m plodding along with the strategies that helped me in 2008 and since. No major changes, although money in the bank looks a lot less attractive than things in the stack…
And my worry currently is that we don’t recognize the start of hyperinflation because of prices that have increased due to genuine supply and demand issues. Prices are WAY up for a whole bunch of things, and it’s difficult to tell if it’s monetary or organic issues causing it.
n
While the premiums on silver are high now, gold is still fairly reasonable. Gold will hold the value of your labor and will always be able to be converted back into fiat currency. Gold might be able to be converted directly into a remote property.
“Not many people complain about saving too much money.”
Un-American!
/s
Its about balancing your investments, anyone that pulled their money out of the stock market over the past decade because “the big crash” was about to happen and minute now has missed out on basically doubling their money. If you think the insurance of having it in cash is worth missing out on HUNDREDS OF THOUSANDS of dollars in profit then good on you. Now on the other hand we don’t want to put it all in there. Land is great to have in inflationary times and I know the rural piece I bought and built a rental cabin on has gone way up in value while renters clamoring to escape the city have been lining up to pay my mortgage and utilities on it and then some.
Montana and Idaho are nice but you needed to move their 15 years ago to afford anything nice. We are moving to Oklahoma here shortly. It is as conservative as any state but relatively undiscovered (yet) so it is extremely affordable. I expect it will be the next hot spot once everyone trying to escape their present states see how expensive the standard “America Redoubt” spots that also suck in the winter have become.