Financial Preps

[Timbertodd]

When was the last time during your life, or the life of your parents or grandparents that money had no value in the USA?

I don't ever remember such a thing happening. My parents and grandparents went through the Great Depression and when they had money it was still worth something. My parents generation is almost gone now - not many left.

Could it happen? Sure. But what is more likely?

Unemployment - BTDT multiple multiple times. When I was first starting out I was unemployed more often than I was employed, and I had a family to provide for.

Car wreck? BTDT. Hospitalization? BTDT.

Multiple unexpected expenses? BTDT.

A lot easier to deal with those things when you have cash than when you have bullets. The problem with barter goods is bartering them. I had a rifle on here for almost a year that no one would buy. I once had a 4x4 truck that took years to sell and I sold it at a loss.

It is much more likely that you will be unemployed, or you or some member of your family will be sick or injured, or that you will be unable to work for whatever reason, or your roof or car will need repair, or a family member will need dental work, or eyeglasses, or whatever. These don't seem like SHTF scenarios until they happen and you don't have the money to deal with them. A dentist is not going to take freeze dried food in trade for a root canal.

When was the last time during your life, or the life of your parents or grandparents that money had no value in the USA?

I don't ever remember such a thing happening. My parents and grandparents went through the Great Depression and when they had money it was still worth something. My parents generation is almost gone now - not many left.

Could it happen? Sure. But what is more likely?

Unemployment - BTDT multiple multiple times. When I was first starting out I was unemployed more often than I was employed, and I had a family to provide for.

Car wreck? BTDT. Hospitalization? BTDT.

Multiple unexpected expenses? BTDT.

A lot easier to deal with those things when you have cash than when you have bullets. The problem with barter goods is bartering them. I had a rifle on here for almost a year that no one would buy. I once had a 4x4 truck that took years to sell and I sold it at a loss.

It is much more likely that you will be unemployed, or you or some member of your family will be sick or injured, or that you will be unable to work for whatever reason, or your roof or car will need repair, or a family member will need dental work, or eyeglasses, or whatever. These don't seem like SHTF scenarios until they happen and you don't have the money to deal with them. A dentist is not going to take freeze dried food in trade for a root canal.

As the old saying goes " Murphy is just waiting to move into your spare bedroom". You never know when something financially negative will impact your life.

 

[The Heretic]

The only debt my wife and I have is the mortgage and at the rate we are going it will be gone before summer. We also have 6-8 months of living expenses set aside. We feel very blessed that we are able to do this knowing so many cannot.

My plan, is to continue working until "full retirement age" (~4 more years), then before I retire buy some land further out, sell my current property (hopefully at the height of a real estate bubble) and use the equity to build on the land I buy. The goal is to go into retirement with no mortgage or a mortgage that I can pay off quickly. Then live entirely on SSI benefits and leave my 401K/IRA to grow for my daughter - reinvesting any mandatory distributions after I turn 70.

Worst case, I lose my job tomorrow, I live on unemployment and on hand cash for six months while I look for work. If I don't find work in a year or so then I retire, and live where I am now, using my SSI benefits (I am 62+) to pay the mortgage and pulling a little from my 401K/IRA to pay for food/etc.

Fortunately, my profession is such that I could work from home if I had to, and all I need to do my work is internet access, a computer, my brain, the ability to see and type. So if I get injured or sick there is a chance I can still work - at least part time. I get paid well so I could put off retirement for a while.

 

[The Heretic]

As the old saying goes " Murphy is just waiting to move into your spare bedroom". You never know when something financially negative will impact your life.

It happens almost every year. Something happens. I need roof repairs (been putting them off), my kids need a new car, my daughter needs dental work, I need to repair both of my trucks and so on. So I went from these things being unexpected to planning on these kinds of things happening for sure, and if they don't then I am ahead of the game.

Every day I have less debt and more equity even though "stuff happens". I know not everybody can do this - my kids are barely treading water, and I have a friends who is doing worse. I used to do a LOT worse.

But it is a LOT easier when you can pay down/off debt and build up savings - so so much easier. That is why saving and paying down debt are at the absolute top of my list of preps.

I still buy guns and ammo and food and so on - monthly. I also live on 20 forested acres on a mountain outside of urban areas. So I am not ignoring those things either.

 

[The Heretic]

All my financial troubles are over!

UNITED NATIONS ORGANIZATION

PALAIS DES NATIONS, 1211 GENEVA 10,

SWITZERLAND.

Dear Email Owner/Fund Beneficiary,

IRREVOCABLE PAYMENT ORDER VIA ATM CARD

We have actually been authorized by the newly appointed United Nation secretary general, and the governing body of the

UNITED NATIONS Monetary Unit, to investigate the unnecessary delay on your payment, recommended and approved in

your favor. During the course of our investigation, we discovered with dismay that your payment has been unnecessarily

Delayed by corrupt officials of the Bank who are Trying to divert your funds into their private accounts.

To forestall this, security for your funds was organized in the form of your personal Identification number (PIN) ATM CARD

and this will enable only you to have direct Control over your funds in the ATM CARD. We will monitor this payment

ourselves to avoid the hopeless situation created by the Officials of the bank.

An irrevocable payment guarantee has been issued by the World Bank Group and the International Monetary Fund (IMF) on

your Payment. However, we are happy to inform you that based on our recommendation/Instructions; your complete

Inheritance funds have been credited in your favor through ATM VISA CARD. You are therefore advice to contact:

Mr. Hans Bruce.

Director ATM Payment Department

(Co-operative Bank United Kingdom)

Email Address: [email protected]

Direct Office lines: +44 -7509750089

Fax: +44-208-0430-363

Contact him now for the delivery of your ATM Card. As soon as you establish a contact with him, an ATM card will be issued

to you immediately which you can use to withdraw your funds in any Bank ATM Machine in your Country, but the maximum

is $5000 per day. So if you like to receive your funds through this means you're advised to contact (Mr. Hans Bruce) with the

following information as stated below:

1. Your Full Name:

2. Address Where You Want the Courier Company to Send Your ATM Card To or (P.O Box)

3. Your Age:

4. Occupation:

5. Telephone Numbers:

6. Country:

7. Alternative Email:

NOTE: You are advised to furnish Mr. Hans Bruce with your correct and valid details. Also be informed that the amount to be

paid to you is £1,000,000,00GBP. We expect your urgent response to this email to enable us monitor this payment effectively

thereby making contact with MR.HANS BRUCE as directed to avoid further delay.

Congratulations.

MR. KASSYM-JOMART TOKAYEV

DIRECTOR-GENERAL

UNITED NATIONS ORGANIZATION

 

[slimmer13]

^^^Seems legit

 

[Camelfilter]

^^^Seems legit

...sad thing is folks respond to these, or the dirtbags wouldn't be doing it...

 

[The Heretic]

...sad thing is folks respond to these, or the dirtbags wouldn't be doing it...

I think they purposely make these ridiculous scenarios (UN & inheritance?? $1 billion pounds??) so that only the really stupid/greedy people will be taken in and then they can move them through the rest of the scam. Anyone with a small bit of smarts and skepticism would see the flaws in that letter.

If they send it to a billion people and only 0.01% are taken in by it and send a $100 fee to get their "ATM card", that would be a million dollars that they would get for the cost of creating the bogus letter and having an email account/etc.

When you have 6 billion plus people in the world, it only takes a small percentage of them to make it profitable to fleece them via the internet.

 

[Camelfilter]

I think they purposely make these ridiculous scenarios (UN & inheritance?? $1 billion pounds??) so that only the really stupid/greedy people will be taken in and then they can move them through the rest of the scam. Anyone with a small bit of smarts and skepticism would see the flaws in that letter.

If they send it to a billion people and only 0.01% are taken in by it and send a $100 fee to get their "ATM card", that would be a million dollars that they would get for the cost of creating the bogus letter and having an email account/etc.

When you have 6 billion plus people in the world, it only takes a small percentage of them to make it profitable to fleece them via the internet.

Yeah, not even stupid/greedy, that example is pretty rife with "red flags" though.

-My mom (incredibly inteligent, reasonably well off), used to fall for the publishers clearing house magazine scams. She'd call all excited "I won I won", I'd talk to her for a short bit, and she'd quickly realize the scam & be super pissed that she even thought for a fleeting moment she had won...

On the subject of my folks & finances, last year they were thinking on getting a new financial advisor group. They shopped around a bit & were about to go with a relatively new group. I talked with my Dad about it, and asked him to do this: have the principal tell you his home address & social security #, so they could do there own due diligence (...and the "family" could know where they live, in the event he pulled a Madoff-we have some family links to really old school Italian "family"). Interestingly enough, the principal wouldn't...so my folks are still with there old advisor group which has served them well for a long while...just a bit of a chore as they're not local.

 

[jbett98]

My friends dad who is in his eighties, received a call from a guy in Las Vegas stating that his son (my friends brother) was in jail for a drunk and disorderly charge and needed $5,000 to post bail.
He panicked and went straight to a Western Union outlet and wired the money.
My friend couldn't believe his dad didn't call him about it.

 

[DB is Here]

When was the last time during your life, or the life of your parents or grandparents that money had no value in the USA?

I don't ever remember such a thing happening. My parents and grandparents went through the Great Depression and when they had money it was still worth something. My parents generation is almost gone now - not many left.

Could it happen? Sure. But what is more likely?

Unemployment - BTDT multiple multiple times. When I was first starting out I was unemployed more often than I was employed, and I had a family to provide for.

Car wreck? BTDT. Hospitalization? BTDT.

Multiple unexpected expenses? BTDT.

A lot easier to deal with those things when you have cash than when you have bullets. The problem with barter goods is bartering them. I had a rifle on here for almost a year that no one would buy. I once had a 4x4 truck that took years to sell and I sold it at a loss.

It is much more likely that you will be unemployed, or you or some member of your family will be sick or injured, or that you will be unable to work for whatever reason, or your roof or car will need repair, or a family member will need dental work, or eyeglasses, or whatever. These don't seem like SHTF scenarios until they happen and you don't have the money to deal with them. A dentist is not going to take freeze dried food in trade for a root canal. My mortgage holder will only take money, not bullets, not guns, not food, not bottled water.

I guess I just consider a SHTF scenario more dire than most might. For instance a massive earthquake or the power grid has been compromised. We have at best 3 days of food at our local grocery stores and if our communication or power lines are disrupted for long periods of time the food supply is gone as everything is ordered via internet or phone. Are these likely? No. Could they happen? IDK. My point was if SHTF be prepared.

But I do agree it's not likely and hope we never face a real SHTF scenario

 

[The Heretic]

IMO the Cascadia earthquake is the most likely SHTF scenario for the PNW.

That will not cause any of our monetary resources (cash, funds, etc.) to be worthless, just the opposite.

You may not be able to immediately or easily get to your bank account or other accounts, but the funds will still be there. If you are like me and you have your bills paid automagically from your bank account, and you have sufficient funds in there, then you are pretty much golden for your bills being paid no matter what happens locally. As long as the US gov. and banking system exists, you are good in that respect.

Believe me - your mortgage lender won't care that you couldn't make it to the bank or that the postman could come around and pickup your outgoing mail - at some point they would be all too happy to start foreclosure as soon as they can if they think it is to their advantage to do so (by picking up some sweet real estate).

That said, I usually try to have some decent cash on hand in order to buy groceries or gas or pay for something if all of a sudden my ATM/Credit cards don't work due to comms failures (seen that happen) or other problems. Cash talks. Wave a Franklin in front of someone and they are more likely to give you a lift home, pull your car out of a ditch, or whatever you need done - within reason.

SHTF depends on the context. I've had a few times were it happened to me on a personal level. I or a loved one goes into the hospital with serious illness or injury. Someone dies (just got word of another death in the family) or such things. Not SHTF for but it is for me. I have a family member who is mentally ill and homeless - her life has been one piece of fecal matter hitting the fan for some time now.

In my experience, finances are very important because they can make the difference between something being a minor problem and something being extremely stressful, even life threatening. It is a place to start. It doesn't do me any good to have guns, ammo and food if I can't pay my mortgage/rent to keep a roof over my head - and that was part of what happened to my homeless family member; due to the circumstances, that person pretty much lost all of their prized possessions because they wound up on the street, being unable to pay for storage of their possession (due to wasting money on drugs, etc., and being in jail).

In short, if an earthquake hit, yes, immediately you will need shelter and food and clean water. You will also need security. Having some money on hand would help a lot in that regard. Having money in an account will make sure that your mortgage gets paid and you don't lose your property. You may not be able to work because your employer is shut down or you may not be able to commute. Eventually you are going to need money if you are not already living in a tent totally off the grid.