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Of course no one will truley know what is in store for us.
Lets just say the chinese real estate bubble pops, the euro tanks, Mayan Calender, whatever else that makes the world go nuts. financially.
What are some ways to be safe?
Keep the money in the markets? Pull it out? Cash? Gold? Assault Rifles, stored fuel, and MREs?
Own both our cars, Lots of student loan debt, on our way working it down. just bought a house, not upside down, but we made 1 payment on it. LOL The appraisel is about $10k more then what we owe.
Diversify, diversify, diversify. That doesn't mean that you have 4 IRA with 4 different companies, that means you have a diversity in the kinds of holdings you have, some stocks, some bonds, some good whole life insurance, some real estate, some precious metals, some muni bonds of some kind, etc., etc., etc. Putting all your eggs in one basket, so to speak, is the worst thing you can do.
Problem is what if in a market crash value of dollar fails too?
I have a good chunk in my 401k, some cash, not much, unless you include checking/savings. I also have some silver. But majority of my money is in 401k and in a savings account.
I just bought a house, woudl it be adviseable to pay it down fast or just chill. I have a 30 yr fixed @ 3.75%
I also have student loans.
I had wondered if paying down debt quickly was a good idea or not. If value of dollar drops, I actually owe less on my liabilities.
Problem is what if in a market crash value of dollar fails too?
I have a good chunk in my 401k, some cash, not much, unless you include checking/savings. I also have some silver. But majority of my money is in 401k and in a savings account.
I just bought a house, woudl it be adviseable to pay it down fast or just chill. I have a 30 yr fixed @ 3.75%
I also have student loans.
I had wondered if paying down debt quickly was a good idea or not. If value of dollar drops, I actually owe less on my liabilities.
Dollar is devalued by runaway inflation. too much money chasing to few goods and services. If there is a market fall to say 8000 which I think is possible solely as a result of terrorism, how are there more dollars chasing fewer goods?
i'd pay off your student loans quicker than mortgage, depending on interest rate and depending on if you qualify for the tax deduction for student loan interest. student loans are likely to be to more expensive debt, so i'd put my extra payments to them for now. plus, student loans cannot be discharged in bankruptcy, so you should tackle those first.
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