Egregoros · Phoenix Framework

Post

Remote status

Context

a stranger from your door

need thoughts on
"is it wise to take out and use all your money before entering a war or not"

i feel like long term investments (pension funds, stocks market) during warzone life for a non-rich-rich guy are a poor choice. never thought about this before

Replying to @lebronjames75@shitposter.world

JC Brand

@jcbrand@mastodon.xyz remote

@lebronjames75

I don't think it's ever wise to take out and use all your money.

Giving advice is almost impossible without knowing your situation, but generally speaking you want to diversify over a broad range of assets in order to minimize risk.

Self-custodied Bitcoin is still an incredible asset. It's liquid, accepted globally, you can carry it around in your head and it's the hardest form of money ever invented.
I would definitely want some during a crisis.

Replies

Replying to @jcbrand@mastodon.xyz

JC Brand

@jcbrand@mastodon.xyz remote

@lebronjames75

Precious metals (Gold, Silver) fill in some of the gaps where Bitcoin might fall short. They're physical, don't need the Internet or electricity and in a crisis anyone would accept them. Drawback is that they're bulky and difficult to transport over borders. That's where BTC is much better.

Concerning pension funds... difficult to say. Depends on your age. For me they're much lower down the list, particularly because they penalize you for withdrawing and tie you up in rules.

Replying to @jcbrand@mastodon.xyz

JC Brand

@jcbrand@mastodon.xyz remote

@lebronjames75

Concerning stocks... depends on who wins. 👇

> From the start of World War II in 1939 until its end in late 1945, the U.S. Dow Jones Industrial Average rose by a total of 50%, representing an annualized return of more than 7% per year. In contrast, the stock markets of losing nations were devastated; Germany’s market lost 90% of its value by 1947, while Japan’s market lost almost 99% over the 1939–1947 period.

Replying to @jcbrand@mastodon.xyz

JC Brand

@jcbrand@mastodon.xyz remote

@lebronjames75

Private pension funds generally invest in stocks, so if the stocks crash 90%, there goes your pension as well.

Their main advantage is that they give you some tax benefits when you retire.

Replying to @jcbrand@mastodon.xyz

billiam

@billiam@shitposter.world remote

@jcbrand @lebronjames75 physical items which
1. have a long shelf life and/or you'll use anyway in your day-to-day life
2. are highly needed or desired
3. are small / compact
(4. vulnerable to supply chain issues)

e.g. basic medical supplies, coffee, cigs, guns / ammo, alcohol, gold / jewels, chocolate, makeup

if you don't use them yourself they could still be useful for selling / bartering / bribing. Maybe don't go out of your way to buy all of them, but if you're buying them anyway then maybe get some extra.