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According to Doomers, you were supposed to "travel light" and live in a small rented apartment in urban area so that you don't lose anything when the crash hits. Not seem to be working out very well now with the covid.
I used to live like that, but I was never a doomer. I had a good job with a company car and handled 5 states. So I lived in a 400 sg/ft studio apartment in a small city, and I just loved it!
I was 45 at the time, and somehow I fell in love and got married. I don't know how all that happened, but it was 30 years ago and now I own lot and lots of stuff and I'm retired with 5 income streams.
Hmm... well, I definitely smirk in knowing satisfaction of the rightness of my decisions when other people chose similarly priced places in urban cores and I have a home gym, pool, and plenty of space to relax in my house. But I kick myself in knowing wrongness about my lack of proper preparation and will learn from some of the preppers not to be caught with my pants down again. Battery power for my solar system would ensure continuous power for every system, I haven’t restocked on guns and ammo since I sold my guns a while before moving. I was looking to upgrade and just hadn’t gotten to it. I should have at least 3 months of dry food supplies, but didn’t. And with such a large house there’s no reason not to stock up on essentials like TP (though we had recently bought it and had a ton thankfully). I learned at least it’s good to be prepared and fairly easy to do, I mean a solar blanket to throw over the pool prevents 99% of evaporation (I don’t care normally, it’s not worth the hassle or money - it’s auto fill and maybe costs $150/year in lost water) and I could use that for drinking / cooking water, all 11,000 gallons that’s UV cleaned anyway and would be boiled again. We could withstand loss of natural gas, power, and water with just a bit of preparation even in the suburbs and not living in the middle of nowhere.
I wondered if you have noticed that this type of lifestyle seems to suit those who are male, single, and/or with no kids? I would like a small cottage type house but they literally don't exist in the suburbs where we live. We couldn't afford to be closer in and we have three teenagers. Now it's working out well as everyone has plenty of space and there is potential on our acre to have a greenhouse, chickens and dig a root cellar. Children generally need stability and some open space to play and exercise, apartment living where you might need to keep moving to keep your costs down doesn't sound like the best scenario with kids in a pandemic. I grew up in an apartment myself but it was in Europe and we had a big shared garden and a very large park next door. The apartment was also very spacious, so not really comparable to what you are describing.
No, you're supposed to buy a house with zero money down so when the hyperinflation hits the mortgage is effectively wiped clean. In the end it's the destruction of the US dollar and hyperinflation that will be the result of all this reckless debt creation. They are not going to allow deflation like Japan. This will lead to US dollar losing reserve currency status, which is checkmate scenario.
Since the average person doesn't have much in the way of assets... only the top 10% really do, it won't affect the average person that much, and will act to equalize the wealth disparity that has formed among the top 1%.. stocks won't be protected, only hard assets will, so all stocks will be relatively worthless along with the cash. The average person with a mortgage and credit card debt will benefit by suddenly having a paid off house. That assumes they can afford the utilities and property taxes. Put no money down and buy some silver with the spare cash.
My little scenario above may or may not happen. But my point is, inflation is coming... renting won't help you there. Neither will paying off your house now. It's the people in debt that are going to make out, especially mortgages on homes and hard assets.
No, you're supposed to buy a house with zero money down so when the hyperinflation hits the mortgage is effectively wiped clean. In the end it's the destruction of the US dollar and hyperinflation that will be the result of all this reckless debt creation. They are not going to allow deflation like Japan. This will lead to US dollar losing reserve currency status, which is checkmate scenario.
Since the average person doesn't have much in the way of assets... only the top 10% really do, it won't affect the average person that much, and will act to equalize the wealth disparity that has formed among the top 1%.. stocks won't be protected, only hard assets will, so all stocks will be relatively worthless along with the cash. The average person with a mortgage and credit card debt will benefit by suddenly having a paid off house. That assumes they can afford the utilities and property taxes. Put no money down and buy some silver with the spare cash.
My little scenario above may or may not happen. But my point is, inflation is coming... renting won't help you there. Neither will paying off your house now. It's the people in debt that are going to make out, especially mortgages on homes and hard assets.
high inflation devastated real estate prices too . the 1970's did not see stocks and real estate recovering until inflation came down . all well and good the mortgage got easier to pay with high inflation but so did everything it bought
Everyone's debating what the OP meant and the used of the word "doomer."
1) The op hasn't come back to explain. So I'm skeptical about the purpose of the post...especially when....
2) Even IF the OP explained what was meant the question still wouldn't make any sense.
What the heck does the question even mean, "how is it working out for them?"
If they're in a small apartment....they could be quite happy.
So what they live in a small apartment. I've been gobsmacked by the number of people who act like staying inside for a few months is the end of the world. Talking about having PTSD. Oh please, you're staying inside for a couple of months. Not in military combat or a POW, or violent crime or abuse victim. Not that they're only things that can cause PTSD. But, really? having to stay inside for a couple of months. AND you actually CAN go outside. You just can't go to restaurants and businesses, etc.
2) If doomers live off the grid and stock pile....I'd think having their stockpiles worked out quite well for them. I ALWAYS keep 2-3 YEARS worth of toilet paper, paper towels and other non-perishables. I know I wasn't the one running all over trying to find toilet paper, hand sanitizer, etc.
So I ask: how was it working out for people who were down to their last roll?
3) What's "travel light" and live in a small rented apartment in urban area so that you don't lose anything when the crash hits"....have to do with anything?
The question made no sense from the start. JMHO, of course. Perhaps, posted by a person small in stature who lives under a bridge? I just can't debate or discuss something that makes no sense on its face.
Everyone's debating what the OP meant and the used of the word "doomer."
1) The op hasn't come back to explain. So I'm skeptical about the purpose of the post...especially when....
2) Even IF the OP explained what was meant the question still wouldn't make any sense.
What the heck does the question even mean, "how is it working out for them?"
If they're in a small apartment....they could be quite happy.
So what they live in a small apartment. I've been gobsmacked by the number of people who act like staying inside for a few months is the end of the world. Talking about having PTSD. Oh please, you're staying inside for a couple of months. Not in military combat or a POW, or violent crime or abuse victim. Not that they're only things that can cause PTSD. But, really? having to stay inside for a couple of months. AND you actually CAN go outside. You just can't go to restaurants and businesses, etc.
2) If doomer live off the grid and stock pile....I'd think having their stockpiles worked out quite well for them. I ALWAYS keep 2-3 YEARS worth of toilet paper, paper towels and other non-perishables. I know I wasn't the one running all over trying to find toilet paper, hand sanitizer, etc.
So I ask how was it working out for people who were down to their last roll?
3) What's "travel light" and live in a small rented apartment in urban area so that you don't lose anything when the crash hits"....have to do with anything?
The question make no sense from the start. JMHO, of course. Perhaps, posted by a person small in stature who lives under a bridge?
i agree , it was a silly thread title and an even more ridiculous premise
Of course if I just want to live in a van for the sake of living in a van, or rent for the sake of having no responsibilities, which is what I do, I'm going to do that. I did the house thing, ended up with a house in an area with a low water table where we had 2 years of near record precip that rose the water table so high it took out 80% of the basements in the town I was in last September during the second freak 8 inch rainfall in a 3 year timespan, and I still managed to sell the house for a profit and get a $10K check from the insurance company.
After all the work I did painting, landscaping, replacing electrical outlets, etc... I've had my fill of the busywork owning a home provides for now. Plus the prices are at inflated adjusted all time highs... I'm not paying $225,000 for a starter home in eastern South Dakota until I'm sure the dollar destruction is near. Just because other people are willing to live dual income paycheck to paycheck and outbid one another for homes doesn't mean I'm going to do anything close to that.
I think the OP was just taunting the Frugal Living forum. There are a LOT of people that cannot retire because they've lived a lifestyle a bit beyond their means, when factoring in retirement savings. They are intensely jealous of those that lived frugally and are now retired.
Before I retired, I posted comments on retirement articles where I detailed my minimalist lifestyle that allowed me to save so I could retire early at 57. I would frequently be crucified by responses calling me out for driving a death trap (Yaris), living in a prison cell (studio apartment), eating a third word diet (flexitarian), etc.
I read about (and know a couple) Americans living in what I consider "gilded cages." They will never be able to retire if they intend to maintain their lifestyle. They simply cannot afford it and they are feeling the pressure now that they are in their 60's.
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I used to live like that, but I was never a doomer. I had a good job with a company car and handled 5 states. So I lived in a 400 sg/ft studio apartment in a small city, and I just loved it!
