SHTF/Retirement

[shrink]

For those of you who believe in an economic collapse, are you still preparing for retirement? 401K, savings account, real estate? Are you, and if so, how are you, also preparing for retirement?

If I believe in an economic collapse (which I do) why would I prepare with a 401K that invests in the stock market, which I believe will collapse. Help me wrap by head around how to prepare, in case of no SHTF.

[MikeK]

You're probably better off asking in the financial section. That's what it's for and there are a lot of knowledgeable folks there that don't spend much time here.

[shrink]

Sorry, didn't even realize there was a financial forum.
Thanks.

[shrink]

For those of you who believe in an economic collapse, are you still preparing for retirement? 401K, savings account, real estate? Are you, and if so, how are you, also preparing for retirement?

If I believe in an economic collapse (which I do) why would I prepare with a 401K that invests in the stock market, which I believe will collapse. Help me wrap by head around how to prepare, in case of no SHTF.

[goose3]

I'm not so sure it isn't appropriate here.

I personally have little faith my retirement will go anything like I expected even 5 years ago.

I'm in my mid-50s, and frankly, I doubt I can stop working before 70. I had things fairly well figured out, but now I doubt my pension is secure, and I have no faith to speak of in Social Security.

Further and more damning, what good does any of that money do if inflation just destroys its purchasing power?

No, I have no faith in "retirement" in any way that we'd traditionally expect.

[OLDWarrior64]

MOD EDIT
Threads merged

[MikeK]

Originally Posted by goose3

I'm not so sure it isn't appropriate here.

I personally have little faith my retirement will go anything like I expected even 5 years ago.

I'm in my mid-50s, and frankly, I doubt I can stop working before 70. I had things fairly well figured out, but now I doubt my pension is secure, and I have no faith to speak of in Social Security.

Further and more damning, what good does any of that money do if inflation just destroys its purchasing power?

No, I have no faith in "retirement" in any way that we'd traditionally expect.

It's probably appropriate to both forums. I just figured he'd get better answers there. Some of the best advice I've seen there comes from people who don't seem to be regulars in this forum.

[Freeholder]

Good general rule: Hope for the best, plan for the worst.

[nhfieldrep]

Age: 60
Confidence: 0
401: pulled it
Real estate: $52,000.00 balance
Prepping: on-going but speeding up
Economic crash: Your damn right! We can't continue spending more then we make.
Reaction by the masses: Civil unrest leading to civil war.

[53convert]

short answere because we could be wrong, either way..............besides it beats sittin around watching american idol.

Heck I still invest money in my old car hobby and with the price of gass, govt regulation, or the internal combustion enginse issue, I could well be tossing money down a rabbit hole there.

Why do we still buy guns and ammo when we all know the gov(dem's) are gonna take it from us at no charge......

[Uncle Bob]

Originally Posted by 53convert

short answere because we could be wrong, either way..............besides it beats sittin around watching american idol.

Heck I still invest money in my old car hobby and with the price of gass, govt regulation, or the internal combustion enginse issue, I could well be tossing money down a rabbit hole there.

Why do we still buy guns and ammo when we all know the gov(dem's) are gonna take it from us at no charge......

In don't know that.
I think that may well be the catalyst that starts the upheaval and the rebirth of our republic.

Besides it was a so called republican that did the most damage to our firearms freedoms (ron reagan)

[97guns]

im prepared as much as i can be, i just retired 2 years ago at 39. i have 50% of my net worth in cash flowing real estate and the other 50% in precious metal, oh yeah amd 100K+ wrapped up in guns, ammo and knives. ive closed down 2 of my 3 401K's already, just waiting for january 1st to close the other down.

i was in real estate before metals, i gave it alot of long and hard thinking of how i can preserve my retirement. it was a toss up of buying more income properties or the metal, metal was a clear choice for me.

[Rollis]

I, just started my 401k with my new job. Can't see letting the company match go to waste. Also if Yellowstone, let's go the US, is toast, but Europe, and Asia, will still be buying cars, and tv's. Even during the great depression people were buying gas, and going to the movie's on Saturday, night. If the big meteorod hits, the Mole people will be trading. And someone will make a profit. You, and I, might as well get a cut.

[anne36]

Ive been asking myself the same questions. How does anyone prepare for retirement anymore? Lets face it, we are going to need some cash. What kind of investment can anyone make now that is reliable and will increase more than inflation?

97 guns, so are you mainly surviving off of rental income?

With so many people in the workforce unable to retire the employment situtation is not going to improve, there are not enough jobs for everyone to stay in the workforce, especially with all the boomers still out there. How will our children be able to find work after college when we are still working into our 70's? I have an Aunt who is still working at 70 and the Eye Dr confided to me the other day that he just turned 70 and has no plans to retire. Im hearing that a lot lately.

[97guns]

yes the rental income is my only source of income, all my reserve funds go into metal every month. my net worth has doubled in 2 years through metal.

[combat doc]

shrink,
I also like you believe we live w/ a high probability of hyperinflation and economic break down. While I invest in my 401k, it is money that is unseen and at present, unneeded. I live debt free(except utilities, etc.) and live on a budget. If that money were lost to me today, if would not affect my life adversely! If you can live w/ money being withdrawn from your paycheck for a 401k, I say go for it. If not, use the extra money wisely!
Doc

[Brettboat]

Real estate is always a good long term investment even in SHTF, you just have to be willing to secure it. I'd invest in silver and gold... They'll alway have value, even in the worse times.

[Rollis]

If I, carry my house loan out to the full term, I, will be 67, I, will probably retire at 70, and work part time (30-40) hours a week. As long as my health is good.

[Hick Industries]

Great question and retirement worries me.

I been working as a civil servant employee of the US Navy for 28 yrs. Im an engineer and i get paid well, I've been saving very aggressively, and I contribute to the CSRS retirement system as well as a 401k. Which means that I can retire at age 55 with a generous annuity.

This all sounds pretty sweet until the government starts borrowing and spending trillions.

I decided in the mid 80s not to trust any promise made by Washington DC. I started saving 1k per month for my own personal retirement plan. My retirement plan is a paid off ranch that will allow me to live cheap, grow my own food, pump well water, produce electricity with solar panels, and heat my house with wood.

[Grandpa Pipes]

Originally Posted by shrink

For those of you who believe in an economic collapse, are you still preparing for retirement? 401K, savings account, real estate? Are you, and if so, how are you, also preparing for retirement?

If I believe in an economic collapse (which I do) why would I prepare with a 401K that invests in the stock market, which I believe will collapse. Help me wrap by head around how to prepare, in case of no SHTF.

How does and "economic collapse" and "retirement" fit together in the same concept??