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Financial Preparedness / Next Recession
#1
So, with the latest recession buzz, how are you in terms of financial preparedness?


We all, I believe, understand that there will be another recession.  When is the question, and no one knows the answer to that.  Media has been pumping that for the news cycle lately, but fan fires and fears is how they operate.  But that doesn't mean it isn't going to happen.  

So now that we all went through the 2009 mess - are you getting ready for the next one?

- Debts paid off?
- Watching investments for move-to-cash strategy?
- Metals?
- Emergency fund for Job loss/lay-off?
- Just how recession-proof is your job and industry?
- Have a side-gig possibility?
- Able to move on-demand for work?

Just some things to chew on...
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#2
Tractor (0% interest) and car loan. All the other stuff paid off.

Investments, met with financial plan few months ago, all is going as planned and actually better than planned. Could use a drop in the market so I could buy more stocks on the cheap.

Never been interested in metals, unless you are talking bullets. In general, most people won't want your gold or silver, but they will be willing to trade for a roll of toilet paper. We have invested more in items that we can use and feel that we will have a way to trade with.

Yep, we try to keep a reserve for emergencies. It helps with both of us working. Wife's job is more recession proof than mine.

Not able to move with wife's job. I would have to go on my own until things improved. I wouldn't like it, but it could be done.
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#3
All vehicles paid off here... Home almost done too ( tho might pull some out ).
Living off pension but it's more than I need now so extra goes to saving... and the backup if needed is my SS which currently is just our vacation fund, but can always be diverted if needed to main funds...
And if real bad , then I could get the wife to move to VA ( out of this commie NY state and take my NY pension to VA )

but doing great after almost 13 yrs and no trouble expected in near future.

As to metals... buy a roll of silver eagles every other month... but assuming they are for the grand kids. ( still have if needed tho )
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#4
Well, my wife and I are retired. We have a little debt on a home equity loan which we used to remodel our home a while ago. We have enough available in that loan to put up a new house on our hunting property in the spring. Other than that we have no debt. Everything is paid for.

We both get good pensions plus social security so have a decent income. Our investment portfolio is at an all time high but we haven't touched the interest. It is susceptible to recession. Probably will ride that out however. Not likely to relocate as long as our parents (all four in their 90s) are still alive. We will move to the new house when they pass and will sell the old house which is worth 3- 4 times what we paid for it. I have gold in my portfolio but don't see the point in stashing it away. So yeah, life is good, i.e. living the American dream.
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