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<p>[QUOTE="Rono, post: 856285, member: 6492"]Hi Bill,</p><p> </p><p>I really agree with zuhara. I'm of the school that believes everyone should have some core investment in precious metals - say 3-5%. More than that is speculation - which is fine, but be aware of the difference. The core should be in real stuff that you can hold in your hand.</p><p> </p><p>Otherwise, most of these EOTWAWKI books would have us all living in a cabin offgrid and eating what we harvested. While we'd probably be a lot healthier, it's probably going to upset the family. Besides, there are easier and probably superior ways of preparing for the end.</p><p> </p><p>First of all, with any risk management plan you need to balance out the costs and benefits of protection or no protection. </p><p> </p><p>What are the potential costs to you of Event A happening if you prepare - if you don't. What are they if if does NOT occur - if you prepare - if you don't. Then toss in a the chances of Event A happening and you can run the numbers. </p><p> </p><p>For example, I see the chances of some sort of financial meltdown happening are 25%. Pretty high but not dire. However, what will that cost ME if it does occur? Pretty nasty if I don't prepare at all. How can I prepare to minimize that costs should it occur. How much will it cost me to prepare? </p><p> </p><p>Now what if it does NOT occur? If I prepared it would be the cost of my preparation. If I didn't prepare I would avoid this cost.</p><p> </p><p>In my case, I see a clear benefit to preparing to some degree with an eye on the costs of that preparation. This is not because some meltdown is likely as much as if one happens, the cost is potentially high.</p><p> </p><p>However, I'm not moving to the woods. I own a couple of acres and can grow a lot of my own food if I have to. This will be increasing each year. I also am starting to landscape with edible stuff. I'm retiring but have my resume' in order and am still taking classes. I'm engaged at many levels in my community. </p><p> </p><p>As for money, a couple of years back I read a quote from the elder Baron Rothschild saying that you should have 1/3 of your wealth in securities, 1/3 in real estate and 1/3 in rare art. [sub rare coins and bullion for the last category]. At the time I ran our numbers and we were 90/8/2. We're now at 70/20/10. I'm shooting for 50/30/20 or better.</p><p> </p><p>and so it goes,</p><p> </p><p>rono[/QUOTE]</p><p><br /></p>
[QUOTE="Rono, post: 856285, member: 6492"]Hi Bill, I really agree with zuhara. I'm of the school that believes everyone should have some core investment in precious metals - say 3-5%. More than that is speculation - which is fine, but be aware of the difference. The core should be in real stuff that you can hold in your hand. Otherwise, most of these EOTWAWKI books would have us all living in a cabin offgrid and eating what we harvested. While we'd probably be a lot healthier, it's probably going to upset the family. Besides, there are easier and probably superior ways of preparing for the end. First of all, with any risk management plan you need to balance out the costs and benefits of protection or no protection. What are the potential costs to you of Event A happening if you prepare - if you don't. What are they if if does NOT occur - if you prepare - if you don't. Then toss in a the chances of Event A happening and you can run the numbers. For example, I see the chances of some sort of financial meltdown happening are 25%. Pretty high but not dire. However, what will that cost ME if it does occur? Pretty nasty if I don't prepare at all. How can I prepare to minimize that costs should it occur. How much will it cost me to prepare? Now what if it does NOT occur? If I prepared it would be the cost of my preparation. If I didn't prepare I would avoid this cost. In my case, I see a clear benefit to preparing to some degree with an eye on the costs of that preparation. This is not because some meltdown is likely as much as if one happens, the cost is potentially high. However, I'm not moving to the woods. I own a couple of acres and can grow a lot of my own food if I have to. This will be increasing each year. I also am starting to landscape with edible stuff. I'm retiring but have my resume' in order and am still taking classes. I'm engaged at many levels in my community. As for money, a couple of years back I read a quote from the elder Baron Rothschild saying that you should have 1/3 of your wealth in securities, 1/3 in real estate and 1/3 in rare art. [sub rare coins and bullion for the last category]. At the time I ran our numbers and we were 90/8/2. We're now at 70/20/10. I'm shooting for 50/30/20 or better. and so it goes, rono[/QUOTE]
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