Recession...

LungButter
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LungButter 8/4/2022 12:17pm
8/4/2022 12:17pm
I'm buying food and fuel as fast as I can....
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philG
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philG 8/4/2022 12:27pm
8/4/2022 12:27pm
If you think this isnt planned, you arent paying attention.
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Zycki11
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Zycki11 8/4/2022 3:39pm
8/4/2022 3:39pm
philG wrote:
If you think this isnt planned, you arent paying attention.
100% planned. Now that it’s a national emergency for monkey pox. You know what is coming after that? More lockdowns and stimi checks. Separation of wealth baby. Wait until after midterms and the shit storm that is about to happen.
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sumdood
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sumdood 8/4/2022 3:51pm
8/4/2022 3:51pm Edited Date/Time 8/4/2022 3:59pm
Titan1 wrote:
How soon do you need to retire?

Team Ideal wrote:
I’m in the same boat except I do have a mortgage. We’re paying off the car next month and currently throwing $500 extra a month at...
I’m in the same boat except I do have a mortgage. We’re paying off the car next month and currently throwing $500 extra a month at the mortgage. I’m wondering what I should do with the $$ that would have been going to the car loan? Add it to the mortgage, put it in the bank (savings,cd?) add it to our retirement, or hoard it at home? We have around 6-7 years before we plan to retire. Was hoping for sooner for myself but this is killing my retirement fund currently.
Titan1 wrote:
What is the rate on your mortgage loan? If you refi'd like most of America down into the 2's...the last thing I'd do is accelerate the...
What is the rate on your mortgage loan? If you refi'd like most of America down into the 2's...the last thing I'd do is accelerate the payoff of that loan (that is basically free money-especially with inflation at "9%").

I'd invest that extra. How risky of an investment would depend on how far from retirement you are. A long ways away (20+ years) higher risk/higher potential return investments...retirement right around the corner, then much much lower risk investments where you wouldn't have to risk losing principal, but with a return covering inflation.

edit: somehow I missed that you said you were 6-7 years from retirement...my bad...
I'll be 64 in January and was "Hoping" to call it quits when I turn 67 so 3-1/2 years plus or minus ? We still have
a mortgage but it's cheap.
Our $ is in mutual funds. We've been adding a grand a month to them, and about 500 a month into "The mattress" lol
By my math 1.2 million and we're good for 20 years. That's 5K a month plus whatever else I can do for a couple bucks here and there.
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TeamGreen
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TeamGreen 8/4/2022 5:04pm
8/4/2022 5:04pm
Team Ideal wrote:
I’m in the same boat except I do have a mortgage. We’re paying off the car next month and currently throwing $500 extra a month at...
I’m in the same boat except I do have a mortgage. We’re paying off the car next month and currently throwing $500 extra a month at the mortgage. I’m wondering what I should do with the $$ that would have been going to the car loan? Add it to the mortgage, put it in the bank (savings,cd?) add it to our retirement, or hoard it at home? We have around 6-7 years before we plan to retire. Was hoping for sooner for myself but this is killing my retirement fund currently.
Titan1 wrote:
What is the rate on your mortgage loan? If you refi'd like most of America down into the 2's...the last thing I'd do is accelerate the...
What is the rate on your mortgage loan? If you refi'd like most of America down into the 2's...the last thing I'd do is accelerate the payoff of that loan (that is basically free money-especially with inflation at "9%").

I'd invest that extra. How risky of an investment would depend on how far from retirement you are. A long ways away (20+ years) higher risk/higher potential return investments...retirement right around the corner, then much much lower risk investments where you wouldn't have to risk losing principal, but with a return covering inflation.

edit: somehow I missed that you said you were 6-7 years from retirement...my bad...
sumdood wrote:
I'll be 64 in January and was "Hoping" to call it quits when I turn 67 so 3-1/2 years plus or minus ? We still have...
I'll be 64 in January and was "Hoping" to call it quits when I turn 67 so 3-1/2 years plus or minus ? We still have
a mortgage but it's cheap.
Our $ is in mutual funds. We've been adding a grand a month to them, and about 500 a month into "The mattress" lol
By my math 1.2 million and we're good for 20 years. That's 5K a month plus whatever else I can do for a couple bucks here and there.
Nice!
Get some.
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Titan1
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Titan1 8/4/2022 5:42pm
8/4/2022 5:42pm
Team Ideal wrote:
I’m in the same boat except I do have a mortgage. We’re paying off the car next month and currently throwing $500 extra a month at...
I’m in the same boat except I do have a mortgage. We’re paying off the car next month and currently throwing $500 extra a month at the mortgage. I’m wondering what I should do with the $$ that would have been going to the car loan? Add it to the mortgage, put it in the bank (savings,cd?) add it to our retirement, or hoard it at home? We have around 6-7 years before we plan to retire. Was hoping for sooner for myself but this is killing my retirement fund currently.
Titan1 wrote:
What is the rate on your mortgage loan? If you refi'd like most of America down into the 2's...the last thing I'd do is accelerate the...
What is the rate on your mortgage loan? If you refi'd like most of America down into the 2's...the last thing I'd do is accelerate the payoff of that loan (that is basically free money-especially with inflation at "9%").

I'd invest that extra. How risky of an investment would depend on how far from retirement you are. A long ways away (20+ years) higher risk/higher potential return investments...retirement right around the corner, then much much lower risk investments where you wouldn't have to risk losing principal, but with a return covering inflation.

edit: somehow I missed that you said you were 6-7 years from retirement...my bad...
sumdood wrote:
I'll be 64 in January and was "Hoping" to call it quits when I turn 67 so 3-1/2 years plus or minus ? We still have...
I'll be 64 in January and was "Hoping" to call it quits when I turn 67 so 3-1/2 years plus or minus ? We still have
a mortgage but it's cheap.
Our $ is in mutual funds. We've been adding a grand a month to them, and about 500 a month into "The mattress" lol
By my math 1.2 million and we're good for 20 years. That's 5K a month plus whatever else I can do for a couple bucks here and there.
Are you saying you have $1.2m now? If so, That $1.2m should last longer than 20 years if it’s getting any decent return on it…at even 6% return (and low risk bonds are paying 6% these days)) that’s $6k/month without even touching principal.

If your mortgage rate is lower than your ROI on those mutual funds, I’d put all that extra to the mutual funds…let it earn more interest than you’re paying on your house…and then withdraw it and pay off the house when you are ready to retire.
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ns503
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ns503 8/4/2022 5:43pm
8/4/2022 5:43pm
Team Ideal wrote:
I’m in the same boat except I do have a mortgage. We’re paying off the car next month and currently throwing $500 extra a month at...
I’m in the same boat except I do have a mortgage. We’re paying off the car next month and currently throwing $500 extra a month at the mortgage. I’m wondering what I should do with the $$ that would have been going to the car loan? Add it to the mortgage, put it in the bank (savings,cd?) add it to our retirement, or hoard it at home? We have around 6-7 years before we plan to retire. Was hoping for sooner for myself but this is killing my retirement fund currently.
Titan1 wrote:
What is the rate on your mortgage loan? If you refi'd like most of America down into the 2's...the last thing I'd do is accelerate the...
What is the rate on your mortgage loan? If you refi'd like most of America down into the 2's...the last thing I'd do is accelerate the payoff of that loan (that is basically free money-especially with inflation at "9%").

I'd invest that extra. How risky of an investment would depend on how far from retirement you are. A long ways away (20+ years) higher risk/higher potential return investments...retirement right around the corner, then much much lower risk investments where you wouldn't have to risk losing principal, but with a return covering inflation.

edit: somehow I missed that you said you were 6-7 years from retirement...my bad...
sumdood wrote:
I'll be 64 in January and was "Hoping" to call it quits when I turn 67 so 3-1/2 years plus or minus ? We still have...
I'll be 64 in January and was "Hoping" to call it quits when I turn 67 so 3-1/2 years plus or minus ? We still have
a mortgage but it's cheap.
Our $ is in mutual funds. We've been adding a grand a month to them, and about 500 a month into "The mattress" lol
By my math 1.2 million and we're good for 20 years. That's 5K a month plus whatever else I can do for a couple bucks here and there.
Can you sell your business when you're done working?
sumdood
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sumdood 8/5/2022 1:25am
8/5/2022 1:25am
Titan1 wrote:
Are you saying you have $1.2m now? If so, That $1.2m should last longer than 20 years if it’s getting any decent return on it…at even...
Are you saying you have $1.2m now? If so, That $1.2m should last longer than 20 years if it’s getting any decent return on it…at even 6% return (and low risk bonds are paying 6% these days)) that’s $6k/month without even touching principal.

If your mortgage rate is lower than your ROI on those mutual funds, I’d put all that extra to the mutual funds…let it earn more interest than you’re paying on your house…and then withdraw it and pay off the house when you are ready to retire.
Oh fuck no I wish. 1.2 is the target where I feel like I could go ok fuck it I don't need to worry about making money any more. I'm hovering around 25% there. Lately I've been lucky to be making enough to put a grand a month away, and every month when I get the statement I have thousands less than the month before. Fuckin great, it might not sound like a lot of money to some people, but we work our asses off to do it and watching it shrink month after month has had me thinking wtf am I doing ? So what happens if continues doing this until it hits zero ? What then ? Thanks for playing have a nice day ? Actually the statement came today and the number was higher than the previous month for the first time in awhile. But its no where near where it was a year ago. After seeing ups and downs for years this was the first time that for months and months and months in a row I've been going "Ok I put a grand in how much do I have now ?" "Oh I have Thousands less than the previous month, bitchin'' I feel like I'm throwing money into a sinking boat. I've given up thinking I'll ever get to fully "Retire" That's not happening. I've been self employed since 1980 and my wife doesn't have any retirement through her company so we'll have whatever we saved plus whatever social security pays, if anything, I'm not counting on any money coming from social security. The only thing I can count on our government to do moneywise for me is to keep taking a bigger piece out of every dollar I make. Social security ?, hahaha yeah fucking right like I'm going to get any of the of thousands and thousands of dollars of tax money I've paid for 45 plus years back. I'm not stupid enough to believe that our gov't wants to do anything for me financially besides ass rape my savings account. Our "Leader" can't even form a fucking coherent sentence but that's a whole nuther topic. Anyway I guess my question was / is, do I stay optimistic and keep investing money or am I better off putting it in the safe where it doesn't do anything but sit there, but at least it doesn't shrink every month ? Unsure
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sumdood
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sumdood 8/5/2022 1:35am
8/5/2022 1:35am
ns503 wrote:
Can you sell your business when you're done working?
Yes. Although when I inquired about it a couple months ago I was told that serious buyers for pool routes are scarce right now. Will that change in the next couple years ? No idea. I hope so...
whyZ
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whyZ 8/5/2022 8:49am
8/5/2022 8:49am
Sumdood, Sounds like yo have a pretty solid plan, and a good grasp of the reality of your situation. There's one thing however I didn't see you mention, and it's a retirement killer, and that's health care. Before you pull the trigger, study up on Medicare - Medicaid programs and eligibility.
JOE_SPROCKETS#1 8/5/2022 10:44am
8/5/2022 10:44am
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and buying silver/gold/ect and putting it in my safe for a later date.....

everyone told me i was crazy and Id be taking a big tax hit.

looking at where i am now 401k wise compared to two years ago I'm beginning to think i may have should of done it.

you say you would save the money but what happens when the dollar tanks...

this was my reasoning for gold/silver/metals

i figured they will always have value and could be used anywhere in the world as currency..

stupid?
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Gworm
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Gworm 8/5/2022 11:08am
8/5/2022 11:08am
JOE_SPROCKETS#1 wrote:
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and...
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and buying silver/gold/ect and putting it in my safe for a later date.....

everyone told me i was crazy and Id be taking a big tax hit.

looking at where i am now 401k wise compared to two years ago I'm beginning to think i may have should of done it.

you say you would save the money but what happens when the dollar tanks...

this was my reasoning for gold/silver/metals

i figured they will always have value and could be used anywhere in the world as currency..

stupid?
I’m thinking about pulling it out and buying land.

I have some that could be gotten at a good price. What do you money guys think.
2
fourfourone
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fourfourone 8/5/2022 11:19am
8/5/2022 11:19am Edited Date/Time 8/5/2022 11:21am
I live in Connecticut in the Northeast and real estate is still nutty over here. I've been house shopping for over a year and its been a bust. When we started this process I was approved at around a 2.35% rate. It made over paying on a house by 50k not hurt as much but now at almost 6% its blown our budget out of the water.

I talked to my agent the other day and he said houses in our area are selling closer to asking price rather than having 10 plus offers for 50k over asking. Its a sign its slowing over here but houses are still over priced.

CT just came out with the "time to buy program" Basically if you hit the guidelines you can qualify for a 50k forgivable loan. The loan will be forgiven once you are in the home for 10 years. You also cannot refinance in the same time frame or you will have to pay a percentage of the loan back. The amount you have to pay back gets reduced every year. It's hard to not want to take advantage of this loan but you are basically stuck with it for 10 years at a 5-6% interest rate.

I had a ton of friends a family make a killing by refinancing their homes when the rates dropped. Some people literally shaved 10 years of their mortage by refinancing.

Do you guys ever see the rates going that low again where locking into a 5-6% right now wont be a big deal for the next 10 years?.

I really want to wait this housing BS out but me and misses are literally waiting on buying in a house to start a family and I'm not getting any younger lol.


https://portal.ct.gov/Office-of-the-Governor/News/Press-Releases/2022/0…
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sumdood
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sumdood 8/5/2022 11:23am
8/5/2022 11:23am
whyZ wrote:
Sumdood, Sounds like yo have a pretty solid plan, and a good grasp of the reality of your situation. There's one thing however I didn't see...
Sumdood, Sounds like yo have a pretty solid plan, and a good grasp of the reality of your situation. There's one thing however I didn't see you mention, and it's a retirement killer, and that's health care. Before you pull the trigger, study up on Medicare - Medicaid programs and eligibility.
Yeah that elephant in the room, we’ve been with Kaiser for 35 + years. Right now it goes through my wife’s work, I think she’s around a hundred a month because she works there, (she drives a school bus ) I’m an add-on and I want to say it’s around 750 to 775 a month for me ? Most of her check goes to health insurance. From my initial consultations with friends that have turned 65 what I can gather is it seems like I can keep my policy for quite a bit less through Medicare. But I haven’t officially checked it out yet. I feel super lucky that the Pool Service business in my area has just been rocking, I finally found another guy to clean pools that’s been awesome so far. I spent three months trying to train another guy and finally gave up on him. He would show up every day but after you show a guy how to do something 45 fucking times and he still doesn’t get it it’s time to move on 🙄😂. The new guy has been fucking heroic so far. Knock on wood. Anyways I have 3 or 4 years more to go WFO and stash / invest as much as I can. I don’t mind making money after I “retire”. I can always go out and do repairs or use my license and sub some remodels out. But I don’t wanna be married to a weekly service route once I quit. I’ll always have a way to make money somewhere but I wanna be able to leave for four or five weeks at a time too, that’s the thing I can never do with the service route. We can take off a week or ten days here and there, but there’s always the monthly billing and the extras and the parts and the chemicals and the phone calls and the complaints and the payroll and the accounts receivable and yada yada yada yada yada. Any self-employed guy knows how many endless hours and sleepless nights it takes to keep the business rolling, the guys busy and everybody happy. Sorry for the long posts, thanks for the input.
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sumdood
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sumdood 8/5/2022 11:38am
8/5/2022 11:38am Edited Date/Time 8/5/2022 11:40am
JOE_SPROCKETS#1 wrote:
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and...
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and buying silver/gold/ect and putting it in my safe for a later date.....

everyone told me i was crazy and Id be taking a big tax hit.

looking at where i am now 401k wise compared to two years ago I'm beginning to think i may have should of done it.

you say you would save the money but what happens when the dollar tanks...

this was my reasoning for gold/silver/metals

i figured they will always have value and could be used anywhere in the world as currency..

stupid?
One of my sons friends dad is a self proclaimed “Money man”. Buy gold was his advice. Who knows amigo this shits all over my head I don’t understand any of it. I guess my current plan is just keep working as hard as I can, invest what I can into the mutual funds and trust they know what the hell they’re doing, and try to store away a little “fuck off money” to go camping do some fun shit now and then or what’s the point ? I really want to retire but I’ve also had so many old customers of mine tell me they wish they would’ve done shit when they were younger and healthier instead of just working for that elusive “retirement” Of course we all want to retire but I don’t wanna stop living to do it, so I guess we just try to find a balance and plug along and save money the best we can, but also fuck off and enjoy life as much as possible. It be easy to plan for if we knew our expiration date but I guess that wouldn’t be any fun either lol
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ToolMaker
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ToolMaker 8/5/2022 11:42am
8/5/2022 11:42am
ns503 wrote:
Can you sell your business when you're done working?
sumdood wrote:
Yes. Although when I inquired about it a couple months ago I was told that serious buyers for pool routes are scarce right now. Will that...
Yes. Although when I inquired about it a couple months ago I was told that serious buyers for pool routes are scarce right now. Will that change in the next couple years ? No idea. I hope so...
I feel for ya brother. The last 10 or so years have been pretty challenging for us. Every time it seems like
there'll be a break in the challenging times along come new monkeys loaded with wrenches. With the water
situation the way it is in your area, are a lot of folks filling the hole with dirt? That happened a lot years back.
TM
1
Hoseclamp
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Hoseclamp 8/5/2022 11:45am
8/5/2022 11:45am
JOE_SPROCKETS#1 wrote:
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and...
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and buying silver/gold/ect and putting it in my safe for a later date.....

everyone told me i was crazy and Id be taking a big tax hit.

looking at where i am now 401k wise compared to two years ago I'm beginning to think i may have should of done it.

you say you would save the money but what happens when the dollar tanks...

this was my reasoning for gold/silver/metals

i figured they will always have value and could be used anywhere in the world as currency..

stupid?
sumdood wrote:
One of my sons friends dad is a self proclaimed “Money man”. Buy gold was his advice. Who knows amigo this shits all over my head...
One of my sons friends dad is a self proclaimed “Money man”. Buy gold was his advice. Who knows amigo this shits all over my head I don’t understand any of it. I guess my current plan is just keep working as hard as I can, invest what I can into the mutual funds and trust they know what the hell they’re doing, and try to store away a little “fuck off money” to go camping do some fun shit now and then or what’s the point ? I really want to retire but I’ve also had so many old customers of mine tell me they wish they would’ve done shit when they were younger and healthier instead of just working for that elusive “retirement” Of course we all want to retire but I don’t wanna stop living to do it, so I guess we just try to find a balance and plug along and save money the best we can, but also fuck off and enjoy life as much as possible. It be easy to plan for if we knew our expiration date but I guess that wouldn’t be any fun either lol
I had a financial advisor tell me not to buy physical gold or silver. I insisted that it would be protected agains inflation of the dollar and always worth the value you paid for it or more. Kind of a safe guard agains the dollar failing. She said she had a client that bought a gold bar and then could never sell it because nobody could prove if it was real gold or not. So he took it somewhere and had it authenticated and provided with a official paper proving its authenticity and still noone would buy it. Thats just what I was told.
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LungButter
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LungButter 8/5/2022 12:01pm
8/5/2022 12:01pm
Hoseclamp wrote:
I had a financial advisor tell me not to buy physical gold or silver. I insisted that it would be protected agains inflation of the dollar...
I had a financial advisor tell me not to buy physical gold or silver. I insisted that it would be protected agains inflation of the dollar and always worth the value you paid for it or more. Kind of a safe guard agains the dollar failing. She said she had a client that bought a gold bar and then could never sell it because nobody could prove if it was real gold or not. So he took it somewhere and had it authenticated and provided with a official paper proving its authenticity and still noone would buy it. Thats just what I was told.
Stop for a second and think about how that Financial Advisor makes money..... doesn't it make sense they wouldn't want you to buy Gold?
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sumdood
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sumdood 8/5/2022 12:15pm
8/5/2022 12:15pm
ToolMaker wrote:
I feel for ya brother. The last 10 or so years have been pretty challenging for us. Every time it seems like there'll be a break...
I feel for ya brother. The last 10 or so years have been pretty challenging for us. Every time it seems like
there'll be a break in the challenging times along come new monkeys loaded with wrenches. With the water
situation the way it is in your area, are a lot of folks filling the hole with dirt? That happened a lot years back.
TM
No restrictions yet. They’re still building pools like crazy around here. And not simple pools just to swim in either, Big over engineered “TADAAH” pools. They’re super complicated piles of shit with raised bond beams and 4 feet of tile above the waterline for 40 feet, every bell and electronic doodad they can sell the customer, and the problem is most of the workmanship is crap, The equipment is absolute chintzy cheap ass junk, and these new goddamn phone apps to run everything create more fucking problems than they solve in a million years. The customers eat it up with a spoon until the first time they can’t turn the Jacuzzi on because the app is down or the phone won’t listen or the pump won’t listen to the controller or the controller is confused or the new pump needs to be flashed to the new revision. 90% of my complaint calls are because some electronic piece of shit doesn’t work. I should start a post on swimming pools to warn anybody thinking of getting one on what to avoid and the most common mistakes we find lately. It’s a giant list
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Hoseclamp
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Hoseclamp 8/5/2022 12:55pm
8/5/2022 12:55pm
Hoseclamp wrote:
I had a financial advisor tell me not to buy physical gold or silver. I insisted that it would be protected agains inflation of the dollar...
I had a financial advisor tell me not to buy physical gold or silver. I insisted that it would be protected agains inflation of the dollar and always worth the value you paid for it or more. Kind of a safe guard agains the dollar failing. She said she had a client that bought a gold bar and then could never sell it because nobody could prove if it was real gold or not. So he took it somewhere and had it authenticated and provided with a official paper proving its authenticity and still noone would buy it. Thats just what I was told.
LungButter wrote:
Stop for a second and think about how that Financial Advisor makes money..... doesn't it make sense they wouldn't want you to buy Gold?
Sure does. I thought of that too. I also thought about where I would sell a $1000 bar of gold and couldnt come up with a good answer either. I dont know much about any of that stuff, but just relaying what I was told and gave my sources. Take it how you want. I ended up not buying any gold and bought another gun and some ammo instead haha. Seems like a good investment to me. When the dollar crashes to shit that gun will be worth its weight in gold...... that is if I can find somebody with a gold bar with an authentication paper that I trust. Haha
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JOE_SPROCKETS#1 8/5/2022 4:30pm
8/5/2022 4:30pm
Off topic but i been hearing for some time silver might be the better option than gold.
ToolMaker
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ToolMaker 8/5/2022 4:48pm
8/5/2022 4:48pm
Hoseclamp wrote:
I had a financial advisor tell me not to buy physical gold or silver. I insisted that it would be protected agains inflation of the dollar...
I had a financial advisor tell me not to buy physical gold or silver. I insisted that it would be protected agains inflation of the dollar and always worth the value you paid for it or more. Kind of a safe guard agains the dollar failing. She said she had a client that bought a gold bar and then could never sell it because nobody could prove if it was real gold or not. So he took it somewhere and had it authenticated and provided with a official paper proving its authenticity and still noone would buy it. Thats just what I was told.
LungButter wrote:
Stop for a second and think about how that Financial Advisor makes money..... doesn't it make sense they wouldn't want you to buy Gold?
Hoseclamp wrote:
Sure does. I thought of that too. I also thought about where I would sell a $1000 bar of gold and couldnt come up with a...
Sure does. I thought of that too. I also thought about where I would sell a $1000 bar of gold and couldnt come up with a good answer either. I dont know much about any of that stuff, but just relaying what I was told and gave my sources. Take it how you want. I ended up not buying any gold and bought another gun and some ammo instead haha. Seems like a good investment to me. When the dollar crashes to shit that gun will be worth its weight in gold...... that is if I can find somebody with a gold bar with an authentication paper that I trust. Haha
$1,000 bar? I think that'll get you a nugget that you can hang from a necklace. You won't have to sell it. Insure it and walk around downtown LA or NYC, file a claim shortly after mugging, problem solved. LOL
It's always funny watching movies where they pick up a "gold bar" and the size they have would be so heavy
they would really struggle.
TM
1
sumdood
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sumdood 8/5/2022 5:25pm
8/5/2022 5:25pm
JOE_SPROCKETS#1 wrote:
Off topic but i been hearing for some time silver might be the better option than gold.
I've been going the lead and brass route
2
ToolMaker
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Escondido, CA US
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ToolMaker 8/5/2022 5:34pm
8/5/2022 5:34pm
JOE_SPROCKETS#1 wrote:
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and...
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and buying silver/gold/ect and putting it in my safe for a later date.....

everyone told me i was crazy and Id be taking a big tax hit.

looking at where i am now 401k wise compared to two years ago I'm beginning to think i may have should of done it.

you say you would save the money but what happens when the dollar tanks...

this was my reasoning for gold/silver/metals

i figured they will always have value and could be used anywhere in the world as currency..

stupid?
sumdood wrote:
One of my sons friends dad is a self proclaimed “Money man”. Buy gold was his advice. Who knows amigo this shits all over my head...
One of my sons friends dad is a self proclaimed “Money man”. Buy gold was his advice. Who knows amigo this shits all over my head I don’t understand any of it. I guess my current plan is just keep working as hard as I can, invest what I can into the mutual funds and trust they know what the hell they’re doing, and try to store away a little “fuck off money” to go camping do some fun shit now and then or what’s the point ? I really want to retire but I’ve also had so many old customers of mine tell me they wish they would’ve done shit when they were younger and healthier instead of just working for that elusive “retirement” Of course we all want to retire but I don’t wanna stop living to do it, so I guess we just try to find a balance and plug along and save money the best we can, but also fuck off and enjoy life as much as possible. It be easy to plan for if we knew our expiration date but I guess that wouldn’t be any fun either lol
I've been thinking about this. I think you should buy a nice condo on the beach in the Caribbean and short term air B&B and then being the helpful guy that I am, I could periodically go stay there a few days at a time to give you a report on anything that needs fixing from bad renters. LOL
TM
2
moto162
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moto162 8/6/2022 4:28pm
8/6/2022 4:28pm
JOE_SPROCKETS#1 wrote:
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and...
I'm with you sumdood, about 2 years ago before all this hit the fan I seriously thought about and asked about pulling my 401k out and buying silver/gold/ect and putting it in my safe for a later date.....

everyone told me i was crazy and Id be taking a big tax hit.

looking at where i am now 401k wise compared to two years ago I'm beginning to think i may have should of done it.

you say you would save the money but what happens when the dollar tanks...

this was my reasoning for gold/silver/metals

i figured they will always have value and could be used anywhere in the world as currency..

stupid?
sumdood wrote:
One of my sons friends dad is a self proclaimed “Money man”. Buy gold was his advice. Who knows amigo this shits all over my head...
One of my sons friends dad is a self proclaimed “Money man”. Buy gold was his advice. Who knows amigo this shits all over my head I don’t understand any of it. I guess my current plan is just keep working as hard as I can, invest what I can into the mutual funds and trust they know what the hell they’re doing, and try to store away a little “fuck off money” to go camping do some fun shit now and then or what’s the point ? I really want to retire but I’ve also had so many old customers of mine tell me they wish they would’ve done shit when they were younger and healthier instead of just working for that elusive “retirement” Of course we all want to retire but I don’t wanna stop living to do it, so I guess we just try to find a balance and plug along and save money the best we can, but also fuck off and enjoy life as much as possible. It be easy to plan for if we knew our expiration date but I guess that wouldn’t be any fun either lol
ToolMaker wrote:
I've been thinking about this. I think you should buy a nice condo on the beach in the Caribbean and short term air B&B and then...
I've been thinking about this. I think you should buy a nice condo on the beach in the Caribbean and short term air B&B and then being the helpful guy that I am, I could periodically go stay there a few days at a time to give you a report on anything that needs fixing from bad renters. LOL
TM
That's not a bad idea really. I'm talking to one of my guys that handles some of my rebuilds about doing this. Free use of properties as long as the dates are open.
SEEMEFIRST
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SEEMEFIRST 8/7/2022 6:39am
8/7/2022 6:39am
JOE_SPROCKETS#1 wrote:
Off topic but i been hearing for some time silver might be the better option than gold.
Same here, and I always ask the question and have never gotten a response.

If companies are sitting on piles of silver, and they predict huge increases in value, why are they spending so much on advertising trying to sell it?

Seems to me that they would just sit on it and wait for the big raise in value.
2
avidchimp
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Thousand Oaks, CA US
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avidchimp 8/7/2022 7:42am
8/7/2022 7:42am
JOE_SPROCKETS#1 wrote:
Off topic but i been hearing for some time silver might be the better option than gold.
SEEMEFIRST wrote:
Same here, and I always ask the question and have never gotten a response. If companies are sitting on piles of silver, and they predict huge...
Same here, and I always ask the question and have never gotten a response.

If companies are sitting on piles of silver, and they predict huge increases in value, why are they spending so much on advertising trying to sell it?

Seems to me that they would just sit on it and wait for the big raise in value.
If I am sitting on a warehouse full of rubber dog shit out of Hong Kong, and I get enough people saying you too need rubber dog shit out of Hong Kong, it's value will go up and I make more money. Doesn't mean it's worth anything.

Spending money on advertising a product creates an illusion of demand and value, therefore increasing its immediate value.
1
Yeti831
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UT US
Yeti831 8/7/2022 9:02am
8/7/2022 9:02am
JOE_SPROCKETS#1 wrote:
Off topic but i been hearing for some time silver might be the better option than gold.
SEEMEFIRST wrote:
Same here, and I always ask the question and have never gotten a response. If companies are sitting on piles of silver, and they predict huge...
Same here, and I always ask the question and have never gotten a response.

If companies are sitting on piles of silver, and they predict huge increases in value, why are they spending so much on advertising trying to sell it?

Seems to me that they would just sit on it and wait for the big raise in value.
avidchimp wrote:
If I am sitting on a warehouse full of rubber dog shit out of Hong Kong, and I get enough people saying you too need rubber...
If I am sitting on a warehouse full of rubber dog shit out of Hong Kong, and I get enough people saying you too need rubber dog shit out of Hong Kong, it's value will go up and I make more money. Doesn't mean it's worth anything.

Spending money on advertising a product creates an illusion of demand and value, therefore increasing its immediate value.
You just single handily answered why I build my own AK from a 103 parts kit instead of spending the $3,000-$7,000 people are trying to get for converted Saigas and Bulgarians.

Sorry, I just related too hard to the last parts of your post and realized “yeah, shit magically gets WAY cheaper when you do it yourself.”
3
TeamGreen
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TeamGreen 8/7/2022 9:19am
8/7/2022 9:19am
ToolMaker wrote:
I feel for ya brother. The last 10 or so years have been pretty challenging for us. Every time it seems like there'll be a break...
I feel for ya brother. The last 10 or so years have been pretty challenging for us. Every time it seems like
there'll be a break in the challenging times along come new monkeys loaded with wrenches. With the water
situation the way it is in your area, are a lot of folks filling the hole with dirt? That happened a lot years back.
TM
sumdood wrote:
No restrictions yet. They’re still building pools like crazy around here. And not simple pools just to swim in either, Big over engineered “TADAAH” pools. They’re...
No restrictions yet. They’re still building pools like crazy around here. And not simple pools just to swim in either, Big over engineered “TADAAH” pools. They’re super complicated piles of shit with raised bond beams and 4 feet of tile above the waterline for 40 feet, every bell and electronic doodad they can sell the customer, and the problem is most of the workmanship is crap, The equipment is absolute chintzy cheap ass junk, and these new goddamn phone apps to run everything create more fucking problems than they solve in a million years. The customers eat it up with a spoon until the first time they can’t turn the Jacuzzi on because the app is down or the phone won’t listen or the pump won’t listen to the controller or the controller is confused or the new pump needs to be flashed to the new revision. 90% of my complaint calls are because some electronic piece of shit doesn’t work. I should start a post on swimming pools to warn anybody thinking of getting one on what to avoid and the most common mistakes we find lately. It’s a giant list
There’s a “stand up comic” routine in there.

So, I was fixing this pool in Laguna Beach…
1
Zycki11
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Ankeny, IA US
Zycki11 8/7/2022 5:27pm
8/7/2022 5:27pm
JOE_SPROCKETS#1 wrote:
Off topic but i been hearing for some time silver might be the better option than gold.
Silver and gold are heavily manipulated. Most think that it’s great as a hedge when tech stocks fall and commodities go up. But when it’s manipulated like oil stocks it doesn’t do any good. As far as buying actual gold/silver it is always a good option. My buddy buys silver all the time.
2

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