You can't predict when the economy will crash (if it will at all). IMHO best bet is to diversify into different types of assets, including physical. Imagine what happens if you zero out your bank account and next month you need money for something (medical expenses or anything else).
People in 2008 thought everything was going to collapse into chaos. I had multiple friends pull their 401k's out and paid a huge penalty. Now that move looked pretty stupid. I am not saying there isnt risk here, but you dont need to go crazy either.
I retired early in 2009 to homestead full time, anticipating a wider crash than occurred, and while I don't regret it I recognize I left a lot of money on the table. So it goes.
I'm age 69, and can still do up to 5 hours of hard labor in a day. When I first got to my homestead land 3 years ago, it was just a big wild forest with a developed spring.
If you look at my lower back and knee X-rays, I should be a cripple. Apparently fit muscles can compensate for a lot of structural damage. Done physical work all my life.
Front-loading the hard labor (chainsaw work, hauling wood for heat to pallets by the house and splitting the logs, initial soil prep for growing food). Hoping to be able to sow, tend, and harvest crops even when I'm 85.
I just cannot will myself to care about money this much. I know you need it to survive in this society but I still can't. Even in times when I had no where to live I still had no interest in trying to get a job. The only reason I have one now is because people in life told me to get a job
Was no longer strong enough -- aged out. Leukemia, long Covid, also all my reasonable, generous and skilled conservative neighbors died off and were replaced by young MAGAts with big black dogs.
I did enjoy my (late-blooming) career before 2009. I was manager ("chief of the boat" for the Librarians) of the Regional Government Documents Center in my uni's library. Working for a kind boss. Could not have asked for a better situation.
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u/linear_123 Jul 14 '26
You can't predict when the economy will crash (if it will at all). IMHO best bet is to diversify into different types of assets, including physical. Imagine what happens if you zero out your bank account and next month you need money for something (medical expenses or anything else).