Originally Posted by
dangitgriff
Two years ago I was warning my coworkers about this bubble popping, and got nothing but condescending attitudes and laughter behind my back (Best. Economy. Ever.)...Ignoring them, I set about preparing for this recession by saving every cent of OT pay earned between then and now. Transferred 75% of my 401K into a self-directed brokerage account and bought shares in mining companies, then pulled cash out of savings and bought gold. Kept repairing my now-24-year-old truck and wife’s 13-year-old Honda Pilot, deferring a new vehicle purchase. We now have a year’s worth of salary saved between all of our diversified assets, plus my stocks, growing even now as my coworkers’ 401K’s are evaporating. They aren’t laughing, now. They’re learning a painful lesson that was not learned back in 2008/2009. There is a very high probability that some of them will be forced to work past their planned retirement dates to recoup the losses in their 401K’s.
Sorry, but I don’t feel sorry for those who weren’t prepared for this downturn, especially after the last crash, for which I, myself, was completely unprepared and which cost my family our home. It woke me up. Hopefully, this go-round will shake every American awake from their fake American dreams and encourage them to stop “living a debt-based lifestyle they can’t afford with money they don’t have”, to quote the inimitable Peter Schiff.
R/Griff