How to prepare for the impending financial disaster

[ERCougar]

I've resigned myself to the fact that we are headed for financial collapse. We have a political system that is not designed to make tough forward-thinking choices and since I don't see that changing any time soon, I'm getting on the "screw you all, I'm looking out for myself" boat. Except that I'm not exactly sure where that boat is.
So I'm turning to our finance guys--where (besides gold, of course ) do you put your money to take advantage of an economy in which neither government nor citizen has any fiscal discipline?

[Indy Coug]

Firearms and munitions.

[oxcoug]

Own acreage. Learn to grow stuff. Learn to shoot guns at people who try to take it. Get facial tats so that you look scarier.

[ERCougar]

Hey, out-of-work comedians! I'm serious here!

[Indy Coug]

Hey, out-of-work comedians! I'm serious here!

You sound very risk-averse. I'm no financial planner, but if that's your investment profile, you would probably go for a diversified portolio of large cap stocks, money market and government securities.

http://www.investopedia.com/terms/r/riskaverse.asp#axzz1usc7sRMx

You could also stuff your mattress.

[byu71]

I've resigned myself to the fact that we are headed for financial collapse. We have a political system that is not designed to make tough forward-thinking choices and since I don't see that changing any time soon, I'm getting on the "screw you all, I'm looking out for myself" boat. Except that I'm not exactly sure where that boat is.
So I'm turning to our finance guys--where (besides gold, of course ) do you put your money to take advantage of an economy in which neither government nor citizen has any fiscal discipline?

I really wish the government and their regulators would let me comment.

[Color Me Badd Fan]

You sound very risk-averse. I'm no financial planner, but if that's your investment profile, you would probably go for a diversified portolio of large cap stocks, money market and government securities.

http://www.investopedia.com/terms/r/riskaverse.asp#axzz1usc7sRMx

You could also stuff your mattress.

Keep your money in tobacco stocks.

[Moliere]

If Obama wins another term, invest in heavily unionized industries or big banks.

[Jeff Lebowski]

Hey, out-of-work comedians! I'm serious here!

lol.

If you are truly serious, the answers being given are probably your best bet.

[ERCougar]

lol.

If you are truly serious, the answers being given are probably your best bet.

"Disaster" is probably overstating it. If I'm down to defending my food storage with arms, I'm not all that crazy about surviving that anyway.

I'm more curious about avoiding going through the next ten years of no growth, or maybe even taking advantage of the situation and making something off of it. Maybe not possible, I don't know, but I'd be interested in hearing ideas beyond stockpiling arms.

Real estate is something I've thought a lot about--inflationary hedge, something that will always have real value, etc. Any other ideas?

[lambdacoug]

"Disaster" is probably overstating it. If I'm down to defending my food storage with arms, I'm not all that crazy about surviving that anyway.

I'm more curious about avoiding going through the next ten years of no growth, or maybe even taking advantage of the situation and making something off of it. Maybe not possible, I don't know, but I'd be interested in hearing ideas beyond stockpiling arms.

Real estate is something I've thought a lot about--inflationary hedge, something that will always have real value, etc. Any other ideas?

Invest heavily in Facebook... That's bound to be worth billions...

[mUUser]

Ask those you trust to recommend an experienced, credentialed financial planner -- personally I never do business with friends, church associates or family members. Lay out your goals for him/her. Hand over your assets in stages as you gain more trust in them, and as they perform to your satisfaction.

As a point of reference, I pay 1% of total investments per year.

With the kind of bank you likely make, you should probably let a pro handle things, and at minimum, get an unbiased 2nd opinion on your investment choices.

[Jeff Lebowski]

Ask those you trust to recommend an experienced, credentialed financial planner -- personally I never do business with friends, church associates or family members. Lay out your goals for him/her. Hand over your assets in stages as you gain more trust in them, and as they perform to your satisfaction.

As a point of reference, I pay 1% of total investments per year.

With the kind of bank you likely make, you should probably let a pro handle things, and at minimum, get an unbiased 2nd opinion on your investment choices.

This is good advice.