THE GREATEST GENERATION AND THE WAR OF BUCKS...wto
by, 01-16-2010 at 06:09 PM (629 Views)
"QUOTE=Disillusioned_1;1611884]Nothing technically is safe.
If you put it under your mattress, inflation could hit rampantly, and your money is next to worthless.
If you put it in an interest bearing CD (or bonds) earning 1-3%, inflation could hit rampantly just as if you kept your money under your mattress.
If you buy gold, the economy could turn around and the value of the gold you own could drop by 75%.
If you buy land, the economy could get worse, and your land values could drop by 50% or more.
If you start a business, the economy could get worse and you lose your customer base and go bankrupt.
I won't even go into the discussion of stocks. Its russian roulette with your money instead of your brains.
The best thing you can do is try to own tangible assets that are debt free. That's not perfect insulation from catastrophe, but its about the best option available.[/QUOTE]
Good advice ! But for Seniors......
"Own" your home outright in an area holding its own in value (or not slipping into disrepair) with a low tax rate.
"Own" your vehicles outright.
Carry no debt that canot be paid off each month (to avoid interest payments.)
Shop at Wallmart to save 20-30%
Cut down on frequency of meat meals but buy the best and enjoy them.
Eat a huge breakfast; Toast (4) no fat spread, cereal & bannana (high fiber,large bowl) with no fat milk decaffinated coffee or tea and bacon with a few crackers with second cup of tea/coffee.
Snack around 3 pm and light snack at night.
Put all money in government protected CDs (long term) except supplement (immediately available) fund to take care of emergencies, taxes and unexpected needs.
Carry Medicare and Medigap Ins. Buy frequently used drugs overseas at huge discounts. If one is really elderly what the hell's the difference.
If limited movement hire non professional "sitter" and stay in own home. Throw in room and board if necessary. If widow or widower who knows you may get lucky.
If you can stay out of the principal the kids will love you !
One depression and WWII under our belt who says were helpless ?