Topic: What is your plan for the next world wide recession. Are you planning on such? - page 2. (Read 232 times)
September 17, 2018, 09:35:00 PM
(kept blank for future use by OP)
September 17, 2018, 09:30:32 PM
With the world the way it is (Trump Admin and I expect a doozy of a Recession as a result of the 1/2 Trillion Dollar Permanent tax cuts to the wealthy in the USA)
I am following this plan. I retired in Jan when BTC and ALTS were high (duh) thus the goal is to last until I'm 65 at worst or 66 at best (full retirement age w/soc sec) with my
crypto assets. With all the drama I finally just took all my assets traditional and crypto and cut them in HALF for returns etc for retirement use until 66 years. My worse case guess say.
Thus working with the disabled in my lifetime of work I had the buying power of my working life of about $35k say average....with 1/2 assets in crypto, as I state above shot down to 1/2
of the value of today...still.. 35k buying power is still possible if needed
the next 3 years till traditional investments and social security kick in (even thou have to buy my own insurance till 65 years for next 1.5 years)
and if crypto and all goes poof or even less than half value in next 2-3 years my traditional investments will cover me at 66 with soc sec etc (no debts) at you guessed it 35k
Thus, figure it is out of my hands. If I am correct..covered...if I am not I'm in much better shape...viewing it this way than fretting about it ..anyway...how I look at this.
Been thru 5 recessions...I'd suggest folk, pay off the j.c.penny card and such..knock off debts, get new tires, do SOMETHING in a proactive manner because we are more than due
for a recession. IMHO. Again, if I'm wrong I'm still Golden ..if I am right at least I did something. Again, always helps to have your debts down and ducks in a row when such happens.
You are a LOT less hard on yourself.
anyway, my coping mechanism these days. I really can't see folk selling their hoard of BTC or altcoins at 25% loss (15% cap gains and in my case 10% state taxes) just to watch
the stock market goes down 40% after you swap them to traditional investments. (yeah, I know typical downturn is 20% and takes 3-4yrs to recover from. I'm betting 40% deep
a recession and 7 years to recover from) Thus losing 'potentially' 65% of your BTC and/or altcoin stash as worse-case IF BTC and altcoins act like gold and go sideways or up
in such times, ie a store of value...well...again seems damn silly, to put BTC or alt into such ..I'll take my chances HODL mode or as much as I can and stay retired
You can bug me about how wrong I may be on this in 3 years on the thread....but how I'm 'dubiously' mentally and such preparing for the next recession. Just saying HODL.
Chump or Champ in HODL mode. We will be the first to know I guess. (after the fact as usual)Sad
I am following this plan. I retired in Jan when BTC and ALTS were high (duh) thus the goal is to last until I'm 65 at worst or 66 at best (full retirement age w/soc sec) with my
crypto assets. With all the drama I finally just took all my assets traditional and crypto and cut them in HALF for returns etc for retirement use until 66 years. My worse case guess say.
Thus working with the disabled in my lifetime of work I had the buying power of my working life of about $35k say average....with 1/2 assets in crypto, as I state above shot down to 1/2
of the value of today...still.. 35k buying power is still possible if needed
the next 3 years till traditional investments and social security kick in (even thou have to buy my own insurance till 65 years for next 1.5 years)
and if crypto and all goes poof or even less than half value in next 2-3 years my traditional investments will cover me at 66 with soc sec etc (no debts) at you guessed it 35k
Thus, figure it is out of my hands. If I am correct..covered...if I am not I'm in much better shape...viewing it this way than fretting about it ..anyway...how I look at this.
Been thru 5 recessions...I'd suggest folk, pay off the j.c.penny card and such..knock off debts, get new tires, do SOMETHING in a proactive manner because we are more than due
for a recession. IMHO. Again, if I'm wrong I'm still Golden ..if I am right at least I did something. Again, always helps to have your debts down and ducks in a row when such happens.
You are a LOT less hard on yourself.
anyway, my coping mechanism these days. I really can't see folk selling their hoard of BTC or altcoins at 25% loss (15% cap gains and in my case 10% state taxes) just to watch
the stock market goes down 40% after you swap them to traditional investments. (yeah, I know typical downturn is 20% and takes 3-4yrs to recover from. I'm betting 40% deep
a recession and 7 years to recover from) Thus losing 'potentially' 65% of your BTC and/or altcoin stash as worse-case IF BTC and altcoins act like gold and go sideways or up
in such times, ie a store of value...well...again seems damn silly, to put BTC or alt into such ..I'll take my chances HODL mode or as much as I can and stay retired
You can bug me about how wrong I may be on this in 3 years on the thread....but how I'm 'dubiously' mentally and such preparing for the next recession. Just saying HODL.
Chump or Champ in HODL mode. We will be the first to know I guess. (after the fact as usual)Sad
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