What's your strategy for the coming economic fallout?

Discussion in 'Current Affairs' started by willrocks, Apr 24, 2020.

  1. willrocks

    willrocks Well-Known Member Silver Stacker

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    What is your strategy to financially prepare for the coming coronavirus economic fallout?
     
  2. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    Sell everything that is not nailed down. Cash, cash, cash!!!
     
  3. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    Sammy to his wife and kids: "...It was nice knowing you....."
     
  4. madaw1

    madaw1 Well-Known Member

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    If you are not prepared yet will be hard to survive. When I took my first mortgage long time ago the interest was 8%-I was good advised that it can go higher-it did to nearly 18%-buy I've listened and had 3 job at the time ,so was easy to pay the interest. Now the people living from one week to another and looking for Government help,but I think it won't last long..
    Anyway,if you are positive-something positive will come in your live...
     
  5. madaw1

    madaw1 Well-Known Member

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    But to whom?...when everybody is short of cash...
     
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  6. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Sell to the bored idiots stuck at home with credit cards.
     
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  7. 66rounds

    66rounds Well-Known Member Silver Stacker

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    My strategy is: " Gold. Get you some."
     
  8. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    What is your strategy to financially prepare for the coming coronavirus economic fallout?

    GOLD
     
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  9. SilverDJ

    SilverDJ Well-Known Member

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    I've got cash, gold, crypto. Selling some collectibles to convert to cash as people seem bored at home right now and like to online shop.
    Still holding onto some quality mining shares like SLR, but have sold others in the mainstream markets last month. Not panic selling my AirBnB property even with zero rentals now, that would be the dumbest move ever, just ride it out, rentals will pick back up toward the end of the year when everyone is set free and they rush out for a long overdue holiday.
    Moving into a cheaper office at end of lease soon to cut costs there.
    Will spend the next year with an eye on various property markets in order to capitalise on the inevitable panic sales.
     
  10. madaw1

    madaw1 Well-Known Member

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    That's for sure-fractional now and in the future...
     
  11. Ag bullet

    Ag bullet Well-Known Member

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    gold, cash, more capacity to grow and preserve my own food (just built an exclusion fence around 1.6 acres which is all good for veges. this in addition to the few acres i already have under the plough), water security, continue to live up to my reputation as an honest skilled worker which means people ring me to do cash jobs.
     
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  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    No more Fractionals for me bud. Low Premium from here on out. I should have started with low premium but I always do things backwards.
     
  13. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    madaw1 likes this.
  14. madaw1

    madaw1 Well-Known Member

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    I've meant low premium Fractionals (if you lucky to get it)...
     
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  15. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Impossible these days. Can pay $30 premium for a gram size or $30 premium on a whole ounce. Long term cost adds up quick!
     
  16. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    I’m middle aged so I’m only looking at long term 3 to 10 year outlook. Not really interested in keeping track daily or monthly. So it narrows down my choices

    1. investments properties (too early) if 20% off the top
    2. stocks of quality companies that are 30% to 60% off last 12 months high (not all time highs) like Coca cola, sonic or Ramsay, Woodside, etc,
    3. speculation stocks Lynas and some lithium players like galaxy that will be still be trading in three years
     
    Last edited: Apr 27, 2020
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  17. madaw1

    madaw1 Well-Known Member

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    How to became rich quick...
    [​IMG]
     
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  18. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    Gold. A nobrainer. Gold charts are so bullish my dog will be buying it next
     
  19. President Trump

    President Trump Active Member Silver Stacker

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    convince the wife and kids to stop spending
     
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  20. willrocks

    willrocks Well-Known Member Silver Stacker

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    I tried it once. They convinced me it couldn't be done.
     
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