Poll: Finances in a recession

[RustyNail]

What is everyone doing with their money since it looks like we are headed for a recession? Curious to see what everyone is doing in this crazy, inflated market.

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[Alexx1401]

Only thing I did was to start buying some silver. Wife and I are well set for what it coming. It should be interesting to watch.

 

[arakboss]

I'm am going to be eating cheaper foods, rice and beans type of stuff.

 

[Certaindeaf]

No neck Emden geese futures.

 

[arakboss]

What is everyone doing with their money since it looks like we are headed for a recession? Curious to see what everyone is doing in this crazy, inflated market.

Black Friday should be crazy this year. Retailers are supposedly trying to dump excess inventory ahead of the coming downturn.

 

[arakboss]

I may be giving stuff or money away during this recession if I buy excess food and gain too much weight back:

2022/23 Weight Maintenance Challenge. Need Accountability Volunteers

Because I had such great success losing 80ish pounds with weightloss challenge, I have decided to try it with weight maintenance. My new goal is too maintain a weight just below 200lbs (199.8 or lower). To help keep on track, I would like to recruit 14 volunteers that will each take on one...

www.northwestfirearms.com

 

[kmk1012]

Starting a cricket farm, gotta feed the family!

 

[ma96782]

Yesterday......
I made my last purchase for awhile.
Well that is, unless/until I sell some stock......to buy more.

I've been thinking. That maybe, I should sell a winner and 3 of my losers....break even. Then, use the money to reposition my portfolio? Or stay in cash for a while?

Yup.....my losers are tech stocks.

Anyone have a thought on that?

Aloha, Mark

 

[Whisky Tahoe]

Recessions are opportunities that are building. Slight adjustments can really help how you manage your finances in a recession.

A year ago when interest rates were sub zero,
it was hard to invest in cash like investments however you need a certain amount of liquidity especially when retired.

Now with rates rising, holding cash or other highly liquid investments makes sense with a rate of return.

Given the volatility of the market, your timeline for retirement colors your decisions the most.
Already retired has a different strategy than retiring in 5,10, 20 years etc.

View assets in terms of value, liquidity, leverage, and dividends.
Holding an asset is one thing, building an investment strategy around an asset takes more care.
Precious metals and collectibles are rarely good primary assets however are certainly worth owning.
Quality equities that pay a dividend can ride through the trough of Recession/inflation and setup for gains as the market turns.

Sensible real estate investments can also ride out recession and inflation periods by providing a source of income, collateral, equity etc.
Everyone's situation differs of course. Owning an expensive property with a large loan so you can rent it out may not work out for everyone.

However owning a $200,000 house might make more sense than owning a $200,000 sprinter conversion.

Where I cut back is things that require loans. No New phones, New cars, etc.
Cook meals vs eating out.
Frozen veggies vs fresh (Herbs are different I try to grow those or buy plants)
Costco $4.99 Roast chicken
0% financing where available makes a lot of sense for home improvement.

 

[slimmer13]

I'ma start doing foot stuff on only fans

 

[parallax]

Right or wrong this is what I've done. Not long after the change in POTUS I went 95% cash. And waited. I am now done waiting and am rolling C.D's in six figure amounts at 6 months each to maturity. Getting between 3-4% each. Am coming due for one to mature next month and will probably roll it at whatever rate is available. Some will say " your not keeping up with inflation " I say better to have a safe insured investment that is basically cash than risk the volitility in the markets right now. I'm also waiting for the bottom of the market, then jump back in at maybe 50% of assets into a mix of meat and potatoes stocks and solid dividend yielding stocks Of course the way things are going who knows this may be the beginning of the collapse of the " global economy" The dollar is pretty much the currency of the global economy so who knows for sure what's going to happen.

 

[arakboss]

I'ma start doing foot stuff on only fans

I need extra cash, but what if my nails are painted?

 

[ma96782]

I'ma start doing foot stuff on only fans

Aloha, Mark

 

[BBQ Guy]

View attachment 1290705

Aloha, Mark

 

[RustyNail]

lol

 

[Certaindeaf]

It all depends on what degree of risk one is willing/able to personally incur.

 

[BBQ Guy]

It all depends on what degree of risk one is willing/able to personally incur.

I'll risk all of your money.

 

[tkdguy]

Bulk up on cash!

 

[RustyNail]

I'll risk all of your money.

Are you talking about Biden here with inflation, shutting down the pipeline and using up all our gas reserves to drive down prices for Election Day only to have it blow up in his face with a hurricane to close oil rigs and make gas go a dollar higher in a week?

 

[Alexx1401]

Are you talking about Biden here with inflation, shutting down the pipeline and using up all our gas reserves to drive down prices for Election Day only to have it blow up in his face with a hurricane to close oil rigs and make gas go a dollar higher in a week?

Its all Trumps fault don't you know