Will you money be there or worth anything?

[Nightshade]

Ever wonder,or even think about, if your savings will be there and if
they are will they be worth less or anything at all?

Yep, there is the possiblity that the savings institution that holds your
savings may go poof, or that the dollar will be devalued, or that the
stock market will crash,or you pension disappear,on and on.

So much of what I read here and on other board seems to take for
granted that any/all savings are 100% gonna be there and will stll
be have 100% of the same buying power as when saved.

Well, get ready for a rough ride 'cause your money is NOT safe!! Nope,
not today. Sad to say at no time since the Great Depression has money,
as we know, been so unstable.

Do I have an answer? Well, kinda. My spin is to owe as little as possible
an own as many of the things that I need with a margin of trading goods
and supplies laid in. I also have learned not to 'want' to many things.

I'm retired now and live as simply as I can, some might even consider my
life dull, but I have all I need and want for nothing that I need. I spend my
days in simple inexpensive pursuit either reading, smoking my pipe when
I do yard work, or talking with friends or riding either my custom made
adult trike or one of 3 bicycles I built up.

It's a quiet life but a good one that needs little money to enjoy.

[nodmicks]

I wonder if Dh's 401K will be worth anything at the rate it is going. However I'm following Dave Ramseys advice to look at the 10 year not now.

I think my savings will be there in the bank though.

I do believe we are in for a rougher ride before it gets better. I am thankful to be debt free but the house and to have experience years ago being really broke. I know we have the skills to survive.

[nodmicks]

Forgot to add~ I feel better also knowing we own half the house or more. It makes me feel better!

[annymoll]

We have diverse investments.We are debt free and intend to stay that way.We continue to save.I feel comfortable.

[scottp999]

Great post. Most people do not even consider the inflation tax that devalues their savings purchasing power. Whether the gov't takes money directly from your check, or creates treasury bonds to gain money to spend, which in turn increases the money supply (reducing the purchasing power of the dollar) the result is the same. You lose, your wealth is confiscated.

100% of what is collected is absorbed solely by interest on the Federal Debt ... all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government.
Grace Commission (A report to The President of The United States – 1984)

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
-Henry Ford

"All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation." -
John Adams, letter to Thomas Jefferson

"The decrease in purchasing power incurred by holders of money due to inflation imparts gains to the issuers of money..."
St. Louis Federal Reserve Bank, Review, Nov. 1975, p.22

“Some people think the Federal Reserve banks are United States Government institutions. They are not Government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”
- Louis T McFadden (R-PA, Chairman of the United States House Committee on Banking and Currency 1920-31)

[staceyy]

I've heard buying gold coins from The US Mint or elsewhere is a good hedge against inflation.

[PrairieRose]

Since you are a 'concerned citizen' Nightshade you might want to consider what smoking your pipe is doing for your prospects for a long, prosperous life

[Telephus44]

Is is smart to be concerned about the effects of inflation and devaluation of the dollar? Yes. I like financial information and statistics probably more than the next person, and I do believe that the US Economy is going somewhere in a hand-basket. Personally, I think a lot of the statistics the government puts out are total BS, and that it's much worse than they want us to know. It is useful to be entirely gloom and doom about it, and figure that everything is going to be all gone or worthless? No. I still have money invested in the stock market. I still invest in my retirement. Based on history, the market and economy are cyclical. We many have another Great Depression, but the first one lasted for about 16 years - not forever.

[C@rol]

I do think about what the OP has posted about.
But we have decided to do the best that we can
to be prepared by deversifying our invests, keeping
a well funded emergency fund and spending some
now and enjoying our lives. Tomorrow is not promised.

The same thing we purchase today at $100 may
very well cost $300 in the near future.

Save some spend some.

[itlw8]

sure I worry but all I can do is do my best pay off the mortage have no cc debt, diversify my investments and keep my home well maintained planning to have all things like the roof in top shape before retirement using materials with a long life.

We are considering spending the extra money on a metal roof before we retire.