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Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19371  
Subject: What To Do? Date: 6/2/2012 10:24 AM
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I've been asked several times in the last week by other retired folks about what I'm doing to avoid the potential for a total economic collapse. Some have asked, "Do you have gold?" Others have asked, "Do you think you and your wife can survive a meltdown in Europe and the US." My normal response is that I'm doing nothing different from what we've been doing since before I retired, which is buy and hold a reasonably conservative portfolio of mutual funds with Vanguard. We've got about 55% in short and intermediate term investment grade bonds, mostly on the short end, plus about 45% in mostly large cap index funds with Vanguard. I don't know what else to say or do. If there is a total economic collapse, then no paper investment will survive, and gold likely won't have any value either. Guns, ammmo, food, medicine, and the ability to grow/raise a sustainable food source are likely to be the only things with any real value, plus a few other things I'm sure. But, as far as investments, if our Vanguard equity and bond funds become worth little or nothing, then I'm sure almost everything else will be worth nothing. I do think current times are a little different from the past, because I'm not sure there's been a time in modern history where virtually every country in the world has been so far in debt and had such huge unfunded future liabilities. on the other hand, if I had to have my money somewhere, I would choose America over everywhere else, so I still sleep reasonably well even if the rest of the world is coming apart at the seams. Good luck to us all, and may god save us from politician of all sorts in DC and at the state and local levels.
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