I am 87 with stage 4 cancer. Was told 5 years ago that if chemo didn't work, i would be dead in 6 months. So far it has and although my body has many limits, me mind has stayed fairly good. Which of my preps over the last 65 years has done me the most good? I have to say that a good medical insurance has had the greatest return on investment. It has both kept me alive and although my medical costs run about $2800 a month on top of Medicare, it has paid the bills. Medicare and health insurance benefits run about $28,000 a month. I invested in a standard IRA. So far it has been my worst selection for long run survival. CD's are now paying anywhere from .1 % to 1 %. A 1000 return on a 100000 savings at max. Today I am going to make my Property tax payment on my house. About $5,000 a year on a place I paid $10,000 for in 1980. I have improved over the years. That would require a million in savings in CD's if I didn't want to eat up the capital, which I am supposed to do. Over the years my investment in the stock markets in mutual funds just about broke even. I admit that I haven't had a dime in them since 2008 and thus missed the greatest returns in history, but in the long run, 1980's, 1990's, 2000 and 2008, my losses wiped out most of my gains and inflation diminished the cash value of the stocks. As a hedge I had some gold and silver. They have done very well. My best hedge has been a rental property. Paid $70,000 for it, has a cash flow of about 2000 a month and a profit of 1200. Value of property has increased to about 250,000, last cash offer, and has allowed me to live quite well. My worst investments have been in safe long run stocks. GM, Pan American, US Steel, all good safe stocks at the time are now valued a 0 and I didn't pick the risky stocks, Apple, Amazon, etc. I have never used most of my preps, but then I have never used my house or car insurance either. If one looks at the long run, 87 and counting, we all are going to need our preps in order to continue to live in the life style we wish. We all are going to age in a rapidly changing world and are going have to adapt to many changes in both the economy and the culture we live in. In my view the long run preps you make, out of debt, hedging against social and economic changes and doing your best to maintain your physical and mental health in a rapidly changing world, are perhaps your best investments in long term survival. I was raised in a house with a wood stove, no electric or running water, and using horses to farm with. At age 18 I joined the USAF and went to tech school. I worked on the electronics and hydraulics that allowed the 100 aeries of aircraft to fly at up to Mach 2. My grandmother was born in 1876, was in that day middle aged when the Wright brothers flew the first airplane and watched men walk on the moon. She lived to be 100. I was born in a private house, not a hospital, in a country with about 130 million people and in a region that was 99 % or more white and into a very Christian culture. Everything has changed and will continue to. Long run preps must help you to live thru those changes.
You can't take wealth with you when you die, but it's good to save for those who you leave behind. Precious metals are always a safe insurance policy, but that's only good for cases when the world still exists after the dust settles. Most aren't really planning for what is coming...because there is no beating a full cosmic reset. @duane keep fighting the good fight, you're doing better than most I reckon. As for myself, I am content in knowing I cannot change what is beyond my scope and reach. If I had a family I would have gone a different route. I suppose there is some comfort in not having to worry about children, but the trade-off is not truly experiencing life as many do. We all have our way of doing things, and finding peace and happiness in our lives, no matter how small can be a nice consolation prize. Truth be told, I've spent more of my life in my own mind creating realities to escape this one, even while I'm awake I am somewhere else. I daydream and never really let this life get to me like so many seem to, there's almost no anxiety or stress in my life. The day to day work routine is definitely a burden, but working for somebody else is always a drag for most people like me who do not view the world like it's a paint by numbers project. Sure, it would be awesome to win the lottery and finally build that mountain retreat, but I'd still be dreaming the whole time, so not much would change. I like to think I'm only visiting this place and not really tied to it firmly. In all honesty, it's saved me more than once from having any difficulties along the way. I never forget the good people who were kind to me along the way, and I often think about the charity it inspires in me, to pass along the kindness once in a while to random people I meet or new acquaintances. It could be as simple as a little advice or a compliment, maybe a favor for a friend. Sometimes it's what we do that matters most in life. Maybe that's the real treasure.
I really don't like mutual funds. I say this even though I made a lot of money, really got my start, off Magellan Mutual Fund run by Peter Lynch...who was either a genius or outrageously lucky. The other mutual funds I've own - well - rubbish and I got out of them long ago never to return. Why? First, most Fund Managers are pressured into buying or selling stocks, whether they want them or not, by the company they work for. Second, no one can take better care of your money than you...and this is my point. No one. Those that say they can't do it really are saying they won't because all it takes is a little brow sweat and common sense. Reference long run survival, I suppose all the gold and silver bugs are jumping up and down now saying, "I told you so!" but until Biden put the country into such a nosedive that even the financial institutions started running to precious metals - well - it wasn't a very good investment, certainly couldn't compare to stocks or property. I am curious to see where gold will be in another year if the economy does what I think it will do. (Note: I just purchased gas at Costco in North Idaho for $2.73 and it continues to fall.) I'm quite sure that if I was to check out tomorrow my wife would sell all my freeze-dried foods, ammo, firearms, along with tractor, truck and etc. to include the house, pop smoke and leave the country so... Currently, cash is still king, so I continue to add to it. I have no debt, own everything, and I would love to have gold but not at $4000 an oz. so that is that...
