Stash away money or food?

Discussion in 'Financial Planning' started by ziskasun, Jun 9, 2016.

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  1. ziskasun

    ziskasun New Member

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    I have been thinking that having money sitting in a 401 K doesn't seem wise these days. When banks lock up, that money is gone gone gone. Or in an economic collapse like in 2007, half of my 401 K money could vanish in an hour. Also no good. So I am thinking it would make more sense to use that money for preparedness. To buy food, water, seeds, medicines etc. so that when money is scarce or useless (cashless society) I will have what I need in order to survive. I can (and do) stash cash and gold away too, but in a melt-down situation, who wants to pay 700 dollars for a loaf of bread?
  2. Endure

    Endure Expert Member

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    You can't rely on a federal state regulated currency such as the dollar. You must protect the value of your wealth in something else, most people purchase assets like inmovable property or big vehicles for private transportation, in order to sell or rent them. Nevertheless, is always wise to backup your money into something valuable to survive. Never rely on government for anything (well, maybe for some institutions, but in economy matters is a big no-no).
  3. Keith H.

    Keith H. Moderator Staff Member

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    I think purchase what you can when you can, we never know what the future may hold.
  4. cluckeyo

    cluckeyo Well-Known Member

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    It is good to keep some cash, but like you say, what if cash was basically worthless? It makes sense to to prepare in advance for the the things you might need. I think it is a very reasonable and solid investment. I would not put everything I had into it, because I am a person with a positive attitude. However, it is smart to diversify and survival makes sense as an investment.
  5. Corzhens

    Corzhens Master Survivalist

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    This thread is a realization that money in the bank is not a guarantee. I agree that something can happen that either we cannot withdraw the money or the money becomes useless in a drastically changed economy. Right now, I have my lifetime savings in a bank account and my retirement is still in our company since I am still employed and to retire in 7 years yet. And if something happens that money becomes useless then I cannot do anything about it. My plan when I retire is to buy a property with my retirement pay to be rented out as our regular income for subsistence. I am hoping that nothing bad will happen before that day.

    In terms of stocking on food, we already have a system for that in our food cabinet. But I think that stock would only last for a month at the most. And we cannot stock up more than that since we have to consume it lest it expires and be wasted. Maybe jewelry is a good stash that can be useful in extraordinary times. However, I am not fond of jewelry.
  6. John Snort

    John Snort Well-Known Member

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    Buy food but also tuck away some cash. There'll come a time when money has the value it does have now but government or the banks will have the power to freeze accounts of groups of people who they want to punish or force to do something they want. Digital money might be convenient now but it also empowers the government to blackmail people when they want to. All they'll need is your account's password . . .
  7. lonewolf

    lonewolf Legendary Survivalist Staff Member

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    I have this motto of " buy it when you see it, not when you need it!"(by then they will have sold out).
    I grew up with parents who always had a store of food, supermarkets didn't exist back then and shops closed at 6pm and didn't open on sundays.
    I've always had a food store, I've run out of money often but I've never run out of food.
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