Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Hiding Places for Valuables?
#21
Federal Credit Unions are insured - not by the FDIC - but by a different organization called the NCUA. This was established in 1970.

If your friends lost their money 25 years ago, it most likely means they were in some STATE chartered credit union.

If you are genuinely concerned that the Federal govt might seize your funds in an American bank, I suppose you could move some of them to Canada, put them in a Canadian bank as Canadian dollars.

Regards
John
Add Thank You Reply
#22
(07-02-2014, 06:16 PM)Zil Wrote: No one has lost 1 cent in USA banks since 1930. If you want to panic, please, at least get your facts right.

The problem is not with the banks losing your money, it's with the dollar itself. Anyone with assets denominated in US dollars is holding a toxic asset.

Hard assets are the only way to preserve wealth. Tools, guns, silver and gold etc. You don't have to believe that this will happen for it to affect you. It's kind of like gravity. Not just a good idea; It's the law!
Add Thank You Reply
#23
Land might good, the kind of land that can support you. But gold and silver are not safe. They are risky, volatile investments. In many of the forms that you are allowed to physically keep it (jewelry, coins), you pay way more way than it is worth for it.

In the kind of SHTF situation survivalists worry about, how would you spend it or keep it safe? It may make you a target for violent people who wouldn't bother you, otherwise. It's heavy as hell to drag around. If you try to hide it, anyone with a metal detector can find it. Maybe someone just stumbles across it. You can't eat it or drink it and it uses up too much of your energy.

If you want an inflation-proof investment for some of your money, you are best of with mutual funds that mirror the S&P 500. Yes, they will go up and down. But historically, they have not only beaten inflation , they have also done better than other types of managed funds over time. The secret is time and the iron nerves to sit tight while the market slumps. If you don't have other money and can't afford to sit tight, you can end up in trouble.
Jean, with hubby and Whiz, the sort-of-bichon, in a 2008 32 ft Gulfstream Independence with a Ford Fiesta dinghy.
Add Thank You Reply
The following 1 user says Thank You to jeanontheroad for this post:
(02-04-2016)
#24
Well put, Jean.
I can understand having a few months of food and a source of potable water to cover emergency, think storms. But I put my faith and trust in the USA economy. Even American Buggy Whip Inc stock is worth money on the antique paper market.
Add Thank You Reply
#25
(07-02-2014, 06:16 PM)Zil Wrote: No one has lost 1 cent in USA banks since 1930.

That, and I had one bank I dealt with taken over by another with no bad results. The account was just transferred with no loss.
Doing the Van thing since the early eighties.
Add Thank You Reply
#26
A note on hidden compartments:

When crossing in Canada or Mexico you might have you rig pass through an x-ray machine. If the customs people see hidden compartments your rig will received special attention.

I don't see a rosy future for this country either. Too many people living off others- when the government checks stop they will form mobs.

A good investment is brass (as in ammo).
Add Thank You Reply
#27
Thx 66788.
You can get your money "stolen" without even opening the safe door. The loss in purchasing power is due to inflation. (The inflation we don't have according to the government.) There's no need to drive around to the banks and load it all up!
Add Thank You Reply
#28
I believe the S&P 500 has outperformed gold historically. So investors would be smart to put most of their money in stocks. I would also have a certain amount in physical gold/silver as well for insurance against an economic disaster. I think living off grid in self sufficient van/RV to be good insurance.

Most foreign banks are turning away Americans due to massive reporting requirements (FATCA). It's not worth it to them. When you do find a foreign bank willing there's additional filing requirements on your part (FBAR) and massive penalties if your late filing just to store money overseas. This is all in addition to normal IRS income reporting.

I believe our economy cannot sustain the massive welfare, rampant fake disability, housing fraud, food stamp fraud, tax refund fraud, etc. It's inevitable, it's just a matter of when (10 yrs? 20 yrs?). Just this week the Bureau of Labor Statistics said a record high 92,120,000 Americans aged 16 and older are not in the work force. That means someone else is being forced to take care of these people. How long can this last? They also said the labor force participation rate for Americans was 62.8 percent, matching a 36-year low. It was lower under Carter which is one big reason he's labelled the worst president ever. If it goes much lower Carter may no longer be labelled worst president.

These facts are subject to change as facts are facts because there is widespread agreement, not because there is some ultimate truth to the fact.

Whew! Long post
Add Thank You Reply
#29
Vagari, for the average small investor who does not have the time or interest to intensely study the market, individual stocks are probably not the best idea. It is hard for a small investor to buy enough individual stocks to be adequately diversified throughout economic sectors.

A mutual fund is a better idea. S&P500 funds are not flashy get-rich-quick schemes, but they have outperformed most other funds over time. They provide diversification that would otherwise not be possible for the small investor. They do have an inherent risk, like any other investment, but they are about as secure as you can get and still get a reasonable return over time. Time is the secret. Can you sit tight when the market goes down? The management fees are usually lower than other types of funds because all the managers do is mirror the S&P500 in their portfolio. Still, they will go up and down, so you need enough ready cash in the bank so you don't have to sell your shares when they are low.
Jean, with hubby and Whiz, the sort-of-bichon, in a 2008 32 ft Gulfstream Independence with a Ford Fiesta dinghy.
Add Thank You Reply
#30
(07-02-2014, 05:58 PM)jeanontheroad Wrote: Yeah, Mike, that's pretty much my attitude. At our age, going survivalist is, frankly, silly. If chaos comes, we aren't going to weather it by storing canned beets and bullets. We need our diabetes and blood pressure meds to stay healthy.

So true, and not just for older people. Just watch some survivalist show, with the roughest one probably being Naked & Afraid, where 2 survivors are completely naked with just a knife and a firestarter. It's very difficult making a decent shelter, getting water and not even talking about hunting yet. Although this is pretty extreme, but many of these people who signs up are mostly survivalist people and survivalist instructors.

But also, a healthy diet can cure many illnesses. I weigh the same as I did when I was in high school. It wasn't easy and is an ongoing challenge everyday to eat healthy and exercise regularly.
Add Thank You Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  Turn a Jar of Mayo Into the Perfect Hiding Place for Your Valuables cyndi 13 2,879 01-01-2018, 11:50 PM
Last Post: NickTheoBennett
  Hiding places for important stuff cyndi 15 6,113 11-18-2014, 09:37 PM
Last Post: coolmom42

Forum Jump:


Users browsing this thread: 1 Guest(s)

Powered By MyBB, © 2002-2018 MyBB Group.