With talk of hyperinflation coming...

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frugalmom
Posts: 1630
Joined: Fri Aug 28, 2015 10:52 pm

With talk of hyperinflation coming...

Post by frugalmom »

With many economists and market people thinking hyperinflation is in our future and a great reset of the currency-like we will have a US digital currency, what are you all doing to prepare for this possibility?
Do any of you invest in gold or silver? Real estate? It will hit savers hard, so what are you doing with cash in the bank? Do you really think the USD will be gone and worthless?

It is all so confusing! Like silver is good but I hear on the other hand it is manipulated by the likes of JP Morgan so if it is manipulated that is not good!? I shy away from Bitcoin and all those digital currencies already bc I am old school and unless I can hold it in my hand, I don't trust it bc it can disappear just like that imho! Although what do I know!?

Real estate is in a frenzy even more than usual out here. Million dollar houses are even gone in 1-3 days and they are overbidding even! I cannot even get into the market and there is too much competition and I think it will eventually crash from this insanity and then you will be stuck with a horrendous mortgage and payments! I don't have that much longer being older now to wait for the house to bounce back and landlords here have no rights at all. My mom's property the renter has not paid for the apt rent from March 2020 til now and we can't evict them and she has the commercial property as well and not paying all the time on that or even opening at times. So my poor mom has been suffering and cannot do anything-that is her income! So in CA it is a headache! My dh wants to invest in land-with nothing on it-but over here that is also in the millions.

So I have savings and it will be all that I have to last me a long time esp if dh dies and his income goes away (I won't be eligible for his or my social security since I am younger if he dies), So what can I do or invest in? They are predicting a stock market crash too so it is like sheesh-although maybe I can pick up some good stocks at its lows then? I am investing in my house though like I need to fix up a few things and thinking of at least putting money into the house so it may not make money but things I need to do and it will only get more expensive the longer I wait.

So what would you guys do at this point in life?

itspennyc
Posts: 2771
Joined: Thu Aug 27, 2015 9:37 pm

Re: With talk of hyperinflation coming...

Post by itspennyc »

I don't know about hyper inflation.

But I do know that as a widow you should be able to get his Social Security. You are disabled and you should be eligible for Social Security Disability. You will need to hire an attorney, as those who don't usually are denied unless they have a life threatening disease. My late husband was approved right away, He had terminal cancer that had spread to the brain.

As a widow I was eligible the day I turned 60. If I had been disabled It would have been 50.

Penny

floridacatlover
Posts: 4708
Joined: Fri Aug 28, 2015 7:21 am

Re: With talk of hyperinflation coming...

Post by floridacatlover »

frugalmom wrote:
Thu May 06, 2021 12:17 am
With many economists and market people thinking hyperinflation is in our future and a great reset of the currency-like we will have a US digital currency, what are you all doing to prepare for this possibility?
Do any of you invest in gold or silver? Real estate? It will hit savers hard, so what are you doing with cash in the bank? Do you really think the USD will be gone and worthless?

It is all so confusing! Like silver is good but I hear on the other hand it is manipulated by the likes of JP Morgan so if it is manipulated that is not good!? I shy away from Bitcoin and all those digital currencies already bc I am old school and unless I can hold it in my hand, I don't trust it bc it can disappear just like that imho! Although what do I know!?

Real estate is in a frenzy even more than usual out here. Million dollar houses are even gone in 1-3 days and they are overbidding even! I cannot even get into the market and there is too much competition and I think it will eventually crash from this insanity and then you will be stuck with a horrendous mortgage and payments! I don't have that much longer being older now to wait for the house to bounce back and landlords here have no rights at all. My mom's property the renter has not paid for the apt rent from March 2020 til now and we can't evict them and she has the commercial property as well and not paying all the time on that or even opening at times. So my poor mom has been suffering and cannot do anything-that is her income! So in CA it is a headache! My dh wants to invest in land-with nothing on it-but over here that is also in the millions.

So I have savings and it will be all that I have to last me a long time esp if dh dies and his income goes away (I won't be eligible for his or my social security since I am younger if he dies), So what can I do or invest in? They are predicting a stock market crash too so it is like sheesh-although maybe I can pick up some good stocks at its lows then? I am investing in my house though like I need to fix up a few things and thinking of at least putting money into the house so it may not make money but things I need to do and it will only get more expensive the longer I wait.

So what would you guys do at this point in life?
OMG, turn off the radio.

“It will hit savers hard” Really??? Savers have been dealing with minuscule interest rates for at least a decade. Maybe the overheated stock market will come down to earth.

Gold and silver? Where have I heard that before? Oh, yeah, radio and Internet people touting gold and silver jewelry and coins that end up going up for awhile and then back to earth.

“A great reset” No, just no.

Real estate goes up and down. If you buy in a hot market you’ll get burned on the other end. So how is that expensive house you were talking about the other day? You so often say you are poor even with your husband’s good pension. But you can afford a more expensive house. Strange.

You have a paid-off house and money coming in. Turn off the garbage and live your life.

Sorry if I offended you or anyone. I’m sick of the crazy talk in this country.

User avatar
Jackielou
Posts: 9232
Joined: Tue Aug 25, 2015 7:51 pm

Re: With talk of hyperinflation coming...

Post by Jackielou »

I have not heard any of this.... I think you might be listening to strange people. Have you talked to your bank? What do they think?

Quilter51
Posts: 1199
Joined: Sat Aug 29, 2015 6:04 pm

Re: With talk of hyperinflation coming...

Post by Quilter51 »

I'm with FC on this. Ignore the news.The sky is not falling. At least economically. Pay off your house if you can. Get rid of debt if you can (nor everyone can do those things reasonably). Save as much as you are able. Spend wisely. Use your resources wisely. Take a breath and ignore the fear mongering. It will make you crazy. Get rid of the stress and live your life
http://richlyretired.blogspot.com

LogicsHere
Posts: 1369
Joined: Sat Aug 29, 2015 9:49 am

Re: With talk of hyperinflation coming...

Post by LogicsHere »

Acccccccccccccccck. Slow down. Stop watching the news. Stop listening to the Vloggers on You Tube. Stop worrying about the past because you can't change them and stop worrying about the things in the future you can't control. Take a deep breath and just take ONE DAY AT A TIME. That's all we have anyway . . . ONE DAY AT A TIME.

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