Uh Oh!

[CatyMae n Steve]

I'm just sitting by quietly smiling as I KNOW that someday the new international monetary unit will be smelt

................................ I've got nothing for that one.

OMG! DogonDan speechless? No way! :lol:

Caty

 

[CAVU]

Bill,
I'm following your step 7. I join a group of retirees at the local Indian casino each Tuesday. Last year I was up about 30% and so far this year have also made about 30%! We always go on Tuesday because it is senior day and the lunch buffet is discounted 30% for seniors. I know I have eaten enough to be way ahead. Easily the best investment I have made in a long time.

 

[thataway]

We retired 16 years ago. We "stair steped" our income. First it was just the retirement from Calif. state and an anuinity. Then at age 62 1/2 I took Social Security. At age 71 we started drawing the minimum on our 401/403/IRA's--and we can tap Marie's social security at somepoint if necessary. I have always believed that inflation is considerably more than what the Consumer Price Index is.

Whe we retired we owned our boat, we owned our home and owed no-one. We have kept our lives that way in retirement, except a few times when it seemed that we could get an almost "free" loan on a vehcile.

We did several things which stood us well. First I didn't cash in my "retirement" from early state of California and Los Angeles County PERS ($50 a month as an intern and $200 a month as a resident--but it was still time in the system!) There was 5 years at Harbor General Hospital and 2 years at UCLA, plus a couple of years of military, since I was "drafted" right out of the Cal Pers System. Then my last "job" was at Cal State Long Beach. There I had a good paying job, and all of that cheap labor "paid off" in the retirement from Cal Pers. Also the Cal Pers system has excellent health and dental benefits for life. I also always put away the maximum in my private retirement 401/403/IRA and TSA funds. All of these compounded tax free (until retirement--perhaps a Roth IRA is a better plan currently)

We also saved and invested. Our investments are very diversified--we have land, a farm, various stocks and bonds. Our philosophy is to just ride things out. In the long run, you can get hurt trying to "time" the market. I feel that with the experts trying to day trade and playing commodities, currencies and even gold--it is too late by the time that most of us make our move. Gold should have been purchased in 2002 to "time the gold market"--I suspect it will go on up some more--but those who made the "most" have already bought gold at its bottom.

I see the problem as too loose credit and too much debt in the United States. We have had this housing bubble--and a credit bubble. People have often borrowed based on what their precieved assets were. I worry more about the current generation who are in their 30's. They may not have social security or even pensions which were available to the older generation currently. They don't seem to be saving adequately.

Yes, if you can lock in some investments at a little over 5% that sounds like a very wise move currently. I think that there is still opportunity in diversity and some specfiic stocks. There are going to be some opportunities in real-estate in the next year or so. There may also be some real good deals in "toys"--such as boats, luxary cars and RV's during this downturn. Keep liquidity during the down turn is also key.
The folks who have over extended their credit will have a very tough time.

 

[Hunkydory]

Sorry, Jim -- I misinterpreted your "no plan" comment -- and perhaps there's nothing wrong with a no plan idea -- just stay the course and ride it on out. Seems like we hear different suggestions from friends:

Here's another option for the truly chronologically advantaged:

8. Keep it in short term CD's or 5+% savings accounts until the volatility gets down to a low roar.

I'm amazed at the number of banks now offering FDIC insured "money market savings" in excess of 5% and even more offering 5+% 4-6 month CD's. Sure is beating hell out of my current equity portfolio.... :sad

At almost 60 and set to retire at 62 this plan number 8 is where we are settled. Can't afford financial risk at this late date. By the time we could afford to be in the market it was not kind to us and then El and Bill's number 4 wreaked havoc. Think its to late for gold, but if its like my timing in the market I'm probably now wrong there too.

With the good possibility that it really is a black swan am glad we have the little we do where its at. Its nice to watch the financial news and not be uptight over it. Just hoping we don't go into hyperinflation because that is the biggest concern to me and without gold in the cellar see little we can do to protect ourselves from it.

On the up side hoping a recession will bring on lower fuel prices and less people on the road and water and with no debt and our little 22' CD we are set to take advantage of at least that scenario.

Jay

 

[chromer]

I think it was last year, many on this forum were telling tales of how well they had invested in mutual funds and such. Seems now there is another tune. As I understand it, there is yet to be another huge advance in the U.S. markets, driven by unbelievable technologies yet known or exploited. This will make todays stock prices look like a bargain sale. Based on U.S. demographics, primarily the baby boomers retiring, you want to be out of the market in about 10 years. At that point, the markets should be stagnate for another 30 years or so.

 

[Hunkydory]

I think it was last year, many on this forum were telling tales of how well they had invested in mutual funds and such. Seems now there is another tune. As I understand it, there is yet to be another huge advance in the U.S. markets, driven by unbelievable technologies yet known or exploited. This will make todays stock prices look like a bargain sale. Based on U.S. demographics, primarily the baby boomers retiring, you want to be out of the market in about 10 years. At that point, the markets should be stagnate for another 30 years or so.

Could very well be right just prefer to take our risk in the boat on the water.

Jay

 

[CatyMae n Steve]

Will we boat less? No, we're retiring and will spend more time on the water.

Can we buy the gas? Hopefully so, without the "expenses" of working.

Will we have enough for retirement? Over the years, we've worked hard, saved all we could and always adapted to our environments. There's no reason to stop that, nor is there any reason to delay retirement. The market fluctuates. Mankind seems to have lost the concept of sacrifice as shown with the mortgage madness and this 'recession' -- Instant gratitude hasn't enriched mankind IMHO.

We may play lots of board games and have long conversations (all I gotta do is get hold of the TV controller :xnaughty ) -- we have so many interests in common -- we've never been money wealthy, but consider ourselves greatly blessed.

Caty

 

[damason]

I am investing all of my money in turnip seeds. If times really get tough I can plant them and in a few weeks have plenty to eat. :smile

 

[dotnmarty]

Investment strategies--Years ago I had a business partner who liked to hunt and fish. His dad was a reclusive character who lived a near subsistence life hunting and trapping muskrat, turtles, rabbits and squirrels. He wasn't very sociable, but did enjoy scaring my kids with stories of skinning small animals. So, one day he dies. My business partner gets a call from his sister saying she has visited the father's home and taken all the guns, traps and fishing gear. My partner seemed strangely OK with this. He asks me to go for a ride to his dad's place. Arriving, we enter, go upstairs to the bedroom. He tells me to grab one side of the mattress and out we go, not stopping to shut the door.

 

[JamesTXSD]

Well said, Caty! In the past two years, we've gotten much better at simplifying our lives, so we're ready. We've proven to ourselves that we can go months without TV, and enjoy quiet nights talking, playing games, and playing some nice music onboard the boat.

Old Hawaiian saying: two ways to be rich - make more, want less. :wink:

There is no doubt that people who have over-bought and over-financed their lives are facing some tough times. There are a lot of 30-somethings who don't recall the "misery index" times of the 70s. It seems to me that folks who are attracted to the type of boat the C-Dory is are generally well-grounded.

Sailors often say, "Powerboats take you to your destination. When you're sailing, it's more about the journey." We think the C-Dory is a great blend of both. That comfortable cabin and reasonable fuel burn (that's a relative term) are something that will allow you more time on the water without breaking the bank.

Best wishes,
Jim

 

[flagold]

As far as the gold goes, there's nothing more pleasurable to me than finding my own. Some of you are cruising past or landing on river bars just loaded with the stuff. Here's a brief video of how to do it with minimal expense and with a few items you can easily keep on the boat:

Finding Gold V

http://www.youtube.com/watch?v=g2DnkTOoQVE

 

[dotnmarty]

I think it was last year, many on this forum were telling tales of how well they had invested in mutual funds and such. Seems now there is another tune. As I understand it, there is yet to be another huge advance in the U.S. markets, driven by unbelievable technologies yet known or exploited. This will make todays stock prices look like a bargain sale. Based on U.S. demographics, primarily the baby boomers retiring, you want to be out of the market in about 10 years. At that point, the markets should be stagnate for another 30 years or so.

Hey Dwight, I don't think there is an inconsistency here, especially if one adheres to the 1/3, 1/3, 1/3 rule of resource allocation. My stocks 1/3 were in mutual funds yesterday, today and will be tomorrow. Then again I'm no expert by a long shot.

 

[SEA3PO]

Flagold......I loved your video.... neat stuff... I ordered two detectors...a Minelab Explorer SE and a Minelab underwater unit.... and am anxious to get out and try em..... I really needed them for some archeology work that I am doing.... but just fun to play around with too.....

Joel
SEA3PO

When I retired I gave up worrying about investments, money or the stock market.... I now could care less.... I will spend it till it's gone...and when it does..... hopefully I will be gone too......

So the saying...... Don't worry.....be happy..

 

[flagold]

Flagold......I loved your video.... neat stuff... I ordered two detectors...a Minelab Explorer SE and a Minelab underwater unit.... and am anxious to get out and try em..... I really needed them for some archeology work that I am doing.... but just fun to play around with too.....

Joel
SEA3PO

When I retired I gave up worrying about investments, money or the stock market.... I now could care less.... I will spend it till it's gone...and when it does..... hopefully I will be gone too......

So the saying...... Don't worry.....be happy..

You must have gotten the Excalibur, I have been using it for the past 12 years (with others -- I use them all) -- a top of the line unit (especially for larger gold (jewelry, coins, etc). Good luck with your project!

 

[SEA3PO]

Yes, that's the one.... I bought the Excalibur SE unit and the Explorer ll unit..... I know that the underwater unit works well above water too, but I was to enthralled with all the bells and whistles that I had to have the Excalibur unit for above water.....

I am working on an archeology project that is so remote that there are lots of old cabin sites for me to explore... plus there just has to be gold in the creek... just has to be there !!! I WILL BE RICH !!!!! (and I will still keep my 22' C-Dory)

Those are really good videos you did...sure wish you were going to the Seattle Boat Show.... we are leaving for it in the morning...

Joel
SEA3PO

 

[flagold]

For the gold in the creek:

Pack a sluice like you saw me working, that is your best tool for the creek. Keene Engineering makes several models of that, including a shortie model that will fit in a 5 gallon bucket. That and a small shovel and you're in business. I bought one of these 30 power scopes:

to ID gems and other "pretty" rocks, and it has been invaluable. Also I can look at the black sands on a gravel bar and usually see if there's gold in them (almost always is). I got that at the Lifestyle store (magnifyers):

http://www.lifestylestore.com/

If you get a sluice (and I certainly would), check the prices with Keene Engineering before buying from the Lifestyle Store but they (Lifestyle) has a shot of all of them:

http://www.lifestylestore.com/ls_keene_sluices.html

The one I was working in the film is the A52 (big). That little A51A would be the ticket for the boat. Just set it up so you have water flow as shown in the film, whether you use rocks or what not to get enough water flow, and feed your material into it. Sounds like a great adventure. Good luck!

 

[1TUBERIDER]

I don't believe the recession will effect my boating.

Current plans will be to spend the rebate check on gas. We should all have enough funds from the rebate to fund a summer of boat gas.

Isn't that sick. The gov is going to send us money to avoid a recession.
Even the people who don't pay taxes will get some. Looks like a plan to bankruptcy to me.


Jeff

 

[dotnmarty]

Jeff-I'll let you know how I feel about it when I finish doin my taxes.

 

[flagold]

I don't believe the recession will effect my boating.

Current plans will be to spend the rebate check on gas. We should all have enough funds from the rebate to fund a summer of boat gas.

Isn't that sick. The gov is going to send us money to avoid a recession.
Even the people who don't pay taxes will get some. Looks like a plan to bankruptcy to me.


Jeff

Buried deep in the Fed statement is the only way this works is if the money is spent on American made goods . . . Simply sending the money overseas doesn't help us.

 

[Larry H]

Other than buying a C-Dory, how can anyone spend their rebate on us made goods? Do we still have any? :sad

I plan on using mine to reimburse myself for some of my 2007 taxes!! :wink