So, like many boomers, I have a 401k that represents basically my entire retirement fund. Unlike many boomers, I am under the age of 50.
I'm sure there's plenty of other millennials, and possibly even younger generations, who have simple, relatively hands-off accounts from jobs where you just diverted a percentage of your paycheck. It's not flashy or trendy, and it's kinda old-school - like the employers we got them from.
With the market being about as stable as a cement mixer full of nitroglycerin, what are we to do?
I've thrown some pocket change into the Meme War on Wall Street, but if this triggers a collapse, there goes my 'retirement' (as though that could ever happen given current trends). What should I and people like me be looking out for?
Fuck it, stay in the market, if the damn thing blows up the USD is going down with it so you can't win anyway. (no, the UKP, EUR and JPY won't do better, and fuck the CNY)
Already missed the opportunities for bullion, so the main alternative is ammunition and canned food.
I've never understood why people are convinced gold will retain value in a SHTF scenario... Gold isn't a practical metal, it's value is based on scarcity, isn't it?
Food, water, medical supplies, and freedom seeds are what all my TrumpBux have gone to, so there's that.
I am not saying people don't think of gold in a SHTF scenario, but it also isnt a binary between "everything's fine" and SHTF. IMO gold is for a Venezuela or Zimbabwe scenario.
That makes sense. Somewhere before Mad Max or Waterworld.