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You have just experienced 3 years of relatively horrible economic times in this country and you are still on pace for a nice retirement. And NOW you are worried? If thee was a time to worry about gov economic policies, it was 04,05,06,07. News channels and "public opinion" are the ultimate lagging indicators. That has been Roshe Womens Grey proven in studies time and time again but we ignore that fact because they rile us up for their own political and business purposes.
People who predict crazy things like the rapture, the end of the world, the end of America as we know it, stocks going to zero, and who use extreme language make for good TV and good church but have ALWAYS been wrong. They ALWAYS say it is different this time and they are always wrong. So why do we keep listening?
A lot of investors here are talking about cash flow investing, not appreciation. Once upon a time people thought of real estate like stock: buy low, sell high. Buy the property for $100,000 today and in 10 years when the city has grown that will be prime real estate worth $1M!! There are still some that go that way.
Some like the real estate play, cash flow or appreciation. Same argument as the stock market, inflation should drive up rental returns and appreciate home values giving you a hedge against rising costs.
Callapsed stock markets,devalued currency, and higher taxes are just a few thoughts of our future. I am nearing retirement. I have contributed heavily to my 401K and continue to also save on top of that. I don want to see all that work squandered because our government has a spending problem.
Conversely, if the entire world goes to hell in a hand basket. well, people still need a place to live. They may not need a new iPod or car, but they do need a roof. Demand for a quality place to live is fairly static as it considered a basic necessity of life.
Some would say go with precious metals but I have no clue how you really value a pretty rock. It has no intrinsic value outside of some small manufacturing so who to say it really worth $1,700 an ounce or closer to $3 a pound like the dirt in my backyard?
I am old enough to remember similar times when everyone was predicting the end of the world economically. We will always have the Fox News types. That free speech. Yet we always recover. We operate basically in a free market economy with some regulation to protect us from ourselves.
towards a horrible collapse. You are smart to want to want to protect your retirement. And although I may not be good in real estate (yet). I a knowledgeable in economics. I don want to make a crazy long post so here is where you can get good, reliable, accurate information on the economy and where we are headed:
Some would stay use the stock market as inflation should push those returns higher. Of course we all know how volatile the stock market is and should realize by now that would "should" happen isn always what "does" happen.
Well Eric thoughts are in good intentions, you should believe some of the news. The US IS headed Nike Roshe Run Girls'shoes
We are not Greece, we are not Italy. We are not ancient Rome. We are not even close. There is no comparison. Even when we are down, we are still a giant in the world. They still buy the our of our currency and bonds whenever anything bad happens. Did they ever do that with Greece or Italy? No. Take reasonable measures (diversify) that have been appropriate for many decades and move on with your life. Don give it that power over you. Live where you want and be what you want to be in your life, without regard to the government, pay the cost and forget about it. That is true freedom.
I protect myself from the US Government
food stocks. and ammo :)
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Originally posted by Steve Maye:I see several replies that the answer may be in real estate. I wondered about that. I know the housing market has already taken a beating. Won it just get worse if the whole debt thing goes South?
All they do is try to spook you with crazy so you keep glued to the tube and vote their way. News channels are in the news Business, with a small "n" and a big "B". It is never as bad or as good as they say it is.
Others go for cash flow. We get a mortgage that has debt servicing of $400 a month on a place that rents for say $1,500 a month. After expenses we have $750 to pay the mortgage and pocket the change ($350). The argument is that should inflation devalue what $350 would buy, the $1,500 we are receiving in rents would go up. Lets say inflation pushes rents to $2,000, after expenses we now have $1,000, our mortgage is still the same so instead of $350 in cash flow, we up to $600. Inflation of 33% in rental prices has led to a 70% inflation in our cash flow!
In these bad times the rich have gotten richer and the poor are poorer. We don seem to learn from previous mistakes.
"If" rents were to inflate with all other prices, cash flow properties would provide a hedge against the devaluation of the dollar as shown above. Historically, they have.
We need to make financial decisions without emotion. This is hard to do. I agree there will always be real estate and people need to live somewhere. Find out what the people need most and provide it for them at a cost. That how you get rich.
How about this? Turn off Fox news and don worry about it so much.
You are incredibly lucky to be living in the US, which is by far the most stable and resilient large economy in the world and overall the most free large country in the world. There is greater "opportunity" here than in every other country combined. The rest of the world knows that, but somehow we have a hard time seeing it. Could it be because we are spoiled?
You are rare in the world to be able to have a retirement at all, now you are worried about how cushy it is. Just enjoy it and stop worrying.
I watch what the other countries are doing to address the government debt and I know that is coming our way. I want to be prepared.
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