What to do with cash right now?

[pELYgroso]

Been wondering this and figured this group will have some good insight.

Between saving and refinancing a couple years ago, we saved up enough for a DP on a house without having to sell our current house. We live in Lehi, my office is in AF, and our kids go to school in Provo, so the idea was to get a place in south orem or North Provo. We've been looking since last August. Well long, frustrating story short, the market sucks, as you all probably know, so we're canning the idea of moving for now.

I don't keep up super closely on current events, but the talk of the dollar collapsing due to the rest of the world pissing on it has me worried. We want to do something with the cash we have so it isn't just sitting in the bank.

We're talking to a lady about seller financing her short term rental property that will cash flow a decent amount. This will use some of our cash but not all of it.

We'll do a few value-add things to our current house we've been meaning to do for awhile, too.

This will leave us with $30-$40k.

So, what are your opinions on where to put some cash these days? With the remaining, we'd like to keep it somewhat liquid (meaning we can convert it back to cash without too much trouble).... Stocks? Precious metals? Old Toyota 4x4's? Beanie Babies?

Side note, I'm not as worried about the value of the purchase appreciating as I am about the actual cash in the bank losing value....or the thing we're trading it for losing a lot of value...

...Or maybe I'm just being paranoid and I should hang on to the cash?

 

[Herzog]

Following.

Currently my thoughts are: land/property, USEFUL metals (guns/ammo/equipment), food and resource development (become more self sustaining)

 

[jeeper]

Market suck or not, buy the property. Or two.

 

[SLC97SR5]

Are you maxing out 401k/retirement accounts?

 

[Unimog]

I would put your liquid assets in a cd or money market fund. You can get them out within a week. I'm not a financial advisor and it's not 100% safe, but as close as you can get and close to as safe as a bank with the recent failures.

 

[moab_cj5]

Property. If you find the right property, it will hold value and appreciate. It may not be super liquid, but if the right property is purchased you should do OK.

 

[pELYgroso]

We're definitely going to try to buy the one short term rental property that we are working on.

We also have some land up in the mountains above Lava Hot Springs and we thought we might use some of the money to start a little off-grid set-up there. (I actually just bought a yurt on Saturday and some solar panels last week)

And to Herzog's food processing comment, we also are talking about buying a food freeze dryer to start processing our leftovers and stocking up in that department.

If we could find an additional property, that would be great, but with $30-$40k, we may not find much.

We do have retirement accounts that we could put more into...Money market is also an option... but if the dollar tanks, that doesn't help us a lot. I'm mostly asking what other options might be good, converting our dollars into something tangible that won't lose value as much if the dollar is devalued.

Is anybody else worried about this, or am I being paranoid?

 

[Herzog]

s anybody else worried about this, or am I being paranoid?

I prefer not to spend time worrying, but it's certainly a possibility. To me, acting accordingly and preparing won't result in anything bad if the dollar retains most of its value through the upcoming transition. For all I know, something good could actually come out of it as long as we don't get stuck with some globalist central digital currency... which is essentially what the dollar has been for most of the world up until now, backed only by a superior armed forces.

There will be an offer made when the transition is ready to happen. They will offer a (x*y) amount on the dollar to transition to the new currency and a lot of people will take that offer. Best to be in a position that you don't have to take the offer because it will cost a lot more than you gain in the long term.

If this "offer" never happens, all the better. But that plan is open to public if you look for it. Uninformed consent, I guess.

 

[Jesser04]

We have medium size harvest right freeze dryer my wife is using it all the time. A little pricey but she actually uses it so I consider it a win.

 

[Unimog]

Is anybody else worried about this, or am I being paranoid?

Only you can answer whether you are paranoid or not, but you are likely being paranoid based on any historical truth. If the dollar or US government truly tanks in any kind of big way, none of the assets above will be worth much, IMO. A few resources to help move forward in a disaster are always going to be valuable, and more importantly, the knowledge of how to use any of said resources.

On the other hand, if the dollar or the US government does not completely collapse, taking money out of traditional investments and putting it into precious metals or land has at least as much potential for setting you back as it does for preserving your wealth.

All my opinion, of course.

 

[pELYgroso]

We have medium size harvest right freeze dryer my wife is using it all the time. A little pricey but she actually uses it so I consider it a win.

This is the one we're looking at!

 

[pELYgroso]

I prefer not to spend time worrying, but it's certainly a possibility. To me, acting accordingly and preparing won't result in anything bad if the dollar retains most of its value through the upcoming transition. For all I know, something good could actually come out of it as long as we don't get stuck with some globalist central digital currency... which is essentially what the dollar has been for most of the world up until now, backed only by a superior armed forces.

There will be an offer made when the transition is ready to happen. They will offer a (x*y) amount on the dollar to transition to the new currency and a lot of people will take that offer. Best to be in a position that you don't have to take the offer because it will cost a lot more than you gain in the long term.

If this "offer" never happens, all the better. But that plan is open to public if you look for it. Uninformed consent, I guess.

I don't spend a whole lot of time worrying I guess, but do spend time trying to figure out the best place to put the capital i have, and lately I trust the government less and less...and that's starting from a pretty low point already.

 

[pELYgroso]

Only you can answer whether you are paranoid or not, but you are likely being paranoid based on any historical truth. If the dollar or US government truly tanks in any kind of big way, none of the assets above will be worth much, IMO. A few resources to help move forward in a disaster are always going to be valuable, and more importantly, the knowledge of how to use any of said resources.

On the other hand, if the dollar or the US government does not completely collapse, taking money out of traditional investments and putting it into precious metals or land has at least as much potential for setting you back as it does for preserving your wealth.

All my opinion, of course.

Good points...the historical truths are being disrupted every day it seems. With all of these other countries basically denouncing the dollar, one questions whether or not it will lose it's super-power status....

 

[Unimog]

the historical truths are being disrupted every day it seems.

Very true. I also don't mean to imply that I don't believe there will be a complete collapse someday, because I do. I also believe when that time comes, being secure in what you know to be true and who and what you can really rely on is far more important that what stuff you have.

 

[jeeper]

I have just completed 1 week of basically social media and news free. It has (not surprisingly) removed like 90% of my concerns, anxieties, and frustrations. Sure, I have missed stuff.. but have I really ‘missed’ it?

I think you’ll find just as many reliable sources to tell you why not to worry as you can telling you to worry.

And when/if something does happen, you have $1,000,000 and I have $100,000. If we lose half our value, you and I have the same value difference, and you are still winning.

 

[Cody]

I'll keep it safe for you.

I think it all comes down to your goals and your risk tolerance.

My mom is the most risk averse person alive. She wouldn't invest a dime if someone handed her a quarter 10 seconds later. I FINALLY convinced her to move her savings from non interest bearing savings account into SoFI savings (which I think is at 4% right now), so at least her savings isn't losing as much value as it was. I tried to push her into some CD's (I'm not as fearful of a bank or full economic collapse as others), but even a 12-14 month 5-5.5% CD was too "risky" for her.

Obviously appreciating assets are the best choice, and real property has appreciated at absolutely unheard of rates over the last several years (and really, even back to like 2010). There are only more people being pooped onto this earth, and property remains fixed so it seems likely that even with some market corrections, the long term play is property. Now if that property can also generate some cash flow to you while it's also appreciating in value? More the better. Especially if you can make that all happen without headaches, which can be easier said than done.

I don't know how I feel about precious metals. I know a lot of people hold onto them, and in the apocalypse I guess they'll still have value as warlords love bling as much as dragons love tacos. It would be interesting to see what % of the world's gold production goes into grills and what goes into electronics as It would seam our ever increasing usage of electronics will continue to drive demand until it reaches a point that it's just not economically feasible to continue using metals.....at which time the Rothchild-Gate's foundation will space laser down some alternative and proprietary (but available for license!) new material that is both cheaper and more conductive than gold/silver/copper. This material will also be used in the next generation of AI bots, masks, and vaccines.

Cody

 

[Herzog]

Hypothetically, if shit did hit the fan, what would you want in trade for something? A silver coin or a box or ammo? An IOU or an egg laying chicken?

That's how I try to think about it.

 

[johngottfredson]

I just paid for a well on my cabin property. Was not cheap! But, my permanent property value went up at least the value of the well cost, and now I’m one step closer to my off-grid bug-out dream. Was going to invest in my retirement instead, but feel much better about this one. Plus, now I can start planting trees, and increase my property value even more, while helping fight climate change at the same time! #givingback

 

[nnnnnate]

I don't know how I feel about precious metals. I know a lot of people hold onto them, and in the apocalypse I guess they'll still have value as warlords love bling as much as dragons love tacos. It would be interesting to see what % of the world's gold production goes into grills and what goes into electronics as It would seam our ever increasing usage of electronics will continue to drive demand until it reaches a point that it's just not economically feasible to continue using metals.....at which time the Rothchild-Gate's foundation will space laser down some alternative and proprietary (but available for license!) new material that is both cheaper and more conductive than gold/silver/copper. This material will also be used in the next generation of AI bots, masks, and vaccines.

Cody

Fantastic book, by the way. It slightly edges out Secret Pizza Party as my favorite book.

 

[Cody]

Hypothetically, if shit did hit the fan, what would you want in trade for something? A silver coin or a box or ammo? An IOU or an egg laying chicken?

That's how I try to think about it.

It depends on how fast the fan is spinning. I tend to think that if the fan was on full blast, then your few boxes of ammo are just going to be taken by the guys with the armory full of it...along with your chicken and silver coin. A more oppressive system of the haves vs the have nots would be the result of full fecal to fan impact.

However, chances are those guys with the armory don't know how to make beer. I can provide this service for the small price of protection.... and your silver coin ha ha.

Cody