Things Stay Interesting
The markets have been constantly exciting. You never know where they're going to be. You could almost say they're like a box of chocolates!
The stocks rallied today. Metals dropped considerably, but they're still near the highs they've been at. I'm hoping for a further retreat so I can pick up more at a lower price.
Trump and China don't seem to be near a trade deal and that has the markets worried.
I've been watching a lot of different videos of people's perspectives on the economy. I think it's valuable to get a variety of views so you can have a more accurate view.
Meanwhile Bitcoin dropped suddenly and is now below $9,500.
With all the craziness in the markets and the world in general right now, what's your strategy going forward?
My strategy is to keep saving, half in fiat stack, and half in precious metals. Keep earning to contribute regularly to my pension plan, and maintain my current holdings. Remain free of revolving debt and use rental property income to pay down house mortgage every month. Give back to my community via church contributions, and by doing regular volunteer work that directly benefits the needy.
It sounds like you have a really good plan in place! That's impressive. It sounds like you should be set. Build a good plan and execute. Well done!
Speaking of saving in fiat, I hadn't even thought of having a pile of actual cash until just recently. From what I've heard, it's smart to have at least a few months of cash in $10 bills and smaller, just in case they demonetize the larger bills like they did in India. It's tough to prepare for so many different contingencies.
I do keep aside a portion of banknotes of my Emergency Cash Reserve .
In the event of a broad market liquidity crisis, Credit cards and perhaps even Debit cards, could cease working until further notice and stores will resort to demanding cash while they wait for Credit transaction system to be restored, if they get restored. So I can get a nice latte and watch everyone else line up at the ATM that may not work or empty.
Staying with the plan, continue to slowly accumulate PMs, Crypto, & Long term stored foods, as funds are available (getting tougher). Network with people I trust in my Neighborhood.