81–90 of 341 posts
If you think its coming, move your money to hedges. But people have been predicting the next big crash for the last 5 years to no avail, so don’t be surprised if you miss out on major gains.
Can't do that? Then don't bother, nobody can predict the future. Any advice you might receive here could backfire as much as it can pay off.
- one house or a piece of land can lose value depending on local conditions or be hard to sell when you could need cash.
- debt can go either way, maybe inflation makes going into debt right now a good idea, or maybe you won't be able to afford in the future and the investment does not pay off.
- savings means basically losing money right now. Will this trend hold? Who knows.
You should probably buy some farmland, have a farm somewhere. Could combine it with working remotely as well. That way, you will be more easily able to provide your family with food. Especially if both you and wife can do the farm work. And perhaps, with the farm at some point you might be able to live without needing to work much. Some inspiration can be found here: https://www.youtube.com/watch?v=T15gXm6ha_I
1. Move into government work just prior to periods of economic downturn - making the standards and requirements that will be needed in the future.
2. Move into private sector work during parts of economic upturn where you could take advantage of all the stuff you had a hand in during step 1.
However not sure if world situation will translate to problems for tech industry.
Been wondering this too without much of a conclusive answer. Gold is already jumped so that is too late. Crypto seems correlated with stocks. I’m counting on a large gap between salary and expenses to save my ass
Instead of eliminating an asset completely, come up with an estimate of its value to the economy in the future, relative to the other assets (do this to cash also). Then, target your portfolio to match that distribution.
While gold jumped, it doesn't mean it's over. And while crypto has been correlated with stocks, it still has some non-correlated part, introducing diversification, and you certainly don't need leverage to target a desired volatility.
Other items to consider:
* fertilizer (food prices going up means fertilizer will do the same; but it has doubled in the past year)
* farmland REIT
* office REIT (if you think the economy comes back to the office)
* Ukrainian stocks ("buy when there's blood on the streets" also means "invest when the country most needs it")
Diversify in as many areas as you can. In income terms, diversify away from a single source by learning new skills, training up in areas you're a bit rusty in, learning totally new ones. In savings or investments: diversify where you put them, spread them around so you're not dependent on any one scenario. In eating: eat more interesting and cheaper things. Become vegetarian, if you aren't already. In exercise: drop…
A laudable goal in terms of sustainability and health, but in most developed countries not a cost saving measure. Meat is way too cheap, and often forms part of the bargains supermarkets use to attract customers.
In the long term and the most pessimistic scenarios doing without meat may be cheaper though.
I avoid personal debt like the plague. If that means living in a small house, and driving an old car, then so be it.
I've also found that learning to deliver software, as opposed to just "writing" software, has made me much more valuable.
Shipping isn't "fun," and many younger developers don't have the patience for it; but, when the rubber meets the road, shipping is what it's all about.
I don't even lock my door. If I left money on the side walk someone walking by would put it in my mail box, or even drop it off.
When you have a strong community everything will be okay.
I also have all the traditional planning. Food, gear ect. Don't be the guy who does his hunting at the supermarket, grow your own vege section.
But you can not do everything yourself a strong community is the most important thing.
We are tech workers most of us can work remotely, which really opens up the options of were we can live.
Long term find a wife with the same ideals and get some land to call yours, where the swings of government and media opinions can not affect you.
Diversify in as many areas as you can. In income terms, diversify away from a single source by learning new skills, training up in areas you're a bit rusty in, learning totally new ones. In savings or investments: diversify where you put them, spread them around so you're not dependent on any one scenario. In eating: eat more interesting and cheaper things. Become vegetarian, if you aren't already. In exercise: drop…
This is very healthy. But make sure to take B12 if you're going vegetarian.
> Though deficiency for those starting out with adequate stores may take years to develop, the results of B12 deficiency can be devastating, with cases reported of paralysis, psychosis, blindness, and even death.
https://nutritionfacts.org/topics/vitamin-b12/
Edit: To the downvoters, care to explain?
Diversify in as many areas as you can. In income terms, diversify away from a single source by learning new skills, training up in areas you're a bit rusty in, learning totally new ones. In savings or investments: diversify where you put them, spread them around so you're not dependent on any one scenario. In eating: eat more interesting and cheaper things. Become vegetarian, if you aren't already. In exercise: drop…
> Become vegetarian, if you aren't already. A laudable goal in terms of sustainability and health, but in most developed countries not a cost saving measure. Meat is way too cheap, and often forms part of the bargains supermarkets use to attract customers. In the long term and the most pessimistic scenarios doing without meat may be cheaper though.