assets (by 6x6 [TN]) Oct 4, 2020 5:03 PM|
assets (by 6x6 [TN]) Oct 4, 2020 5:06 PM
assets (by Ken [NY]) Oct 4, 2020 5:10 PM
assets (by NE [PA]) Oct 4, 2020 5:23 PM
assets (by JKJ [MA]) Oct 4, 2020 5:29 PM
assets (by 6x6 [TN]) Oct 4, 2020 5:42 PM
assets (by NE [PA]) Oct 4, 2020 5:51 PM
assets (by 6x6 [TN]) Oct 4, 2020 5:55 PM
assets (by Richard [MI]) Oct 4, 2020 5:58 PM
assets (by NE [PA]) Oct 4, 2020 6:00 PM
assets (by 6x6 [TN]) Oct 4, 2020 6:07 PM
assets (by NE [PA]) Oct 4, 2020 6:18 PM
assets (by hubba hubba [CA]) Oct 4, 2020 6:18 PM
assets (by JKJ [MA]) Oct 4, 2020 6:37 PM
assets (by NE [PA]) Oct 4, 2020 6:40 PM
assets (by JR [ME]) Oct 4, 2020 8:02 PM
assets (by Robert J [CA]) Oct 4, 2020 9:47 PM
assets (by J [FL]) Oct 4, 2020 10:19 PM
assets (by PG [SC]) Oct 4, 2020 11:46 PM
assets (by Nicole [PA]) Oct 5, 2020 12:01 AM
assets (by Landlord ofthe Flies [TX]) Oct 5, 2020 5:12 PM
assets (by Pmh [TX]) Oct 5, 2020 5:36 PM
assets (by 6x6 [TN]) Oct 5, 2020 6:27 PM
assets (by JKJ [MA]) Oct 5, 2020 9:02 PM
assets (by Ray-N-Pa [PA]) Oct 5, 2020 9:37 PM
assets (by Pmh [TX]) Oct 7, 2020 7:13 PM
assets (by Deborah [OR]) Oct 8, 2020 7:51 PM
assets (by NE [PA]) Oct 8, 2020 8:15 PM
assets (by Cjo’h [CT]) Oct 11, 2020 9:02 PM
assets (by cjo'h [CT]) Oct 11, 2020 9:27 PM
assets (by David [MI]) Oct 12, 2020 3:31 AM
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assets (by 6x6 [TN]) Posted on: Oct 4, 2020 5:03 PM
With all of this outrageous stuff going on with the shutdowns and moratoriums and government overreach I cant help but wonder if our assets are safe in any form. The banks even shutdown to drive through for the most part. People are still required to pay there property taxes and insurance regardless of everything else.
Do you think that our assets are safe in any form?
What form do think is the safest at this point and why do you feel that way?
Is it cash in savings?
is it buried cash?
Is it coins?
Is it an element such as gold or silver?
Is it stocks or bonds?
Is it vacant land?
Is it commercial rental?
Is it residential rental?
Thank you for your time.
assets (by 6x6 [TN]) Posted on: Oct 4, 2020 5:06 PM
What is to stop the banks from closing up and saying you are out of luck and the government from saying that they can not insure it as there is no money. --73.120.xx.xxx
assets (by Ken [NY]) Posted on: Oct 4, 2020 5:10 PM
Guns,ammo,gas,food,firewood long before i buy gold or silver --104.229.xxx.xxx
assets (by NE [PA]) Posted on: Oct 4, 2020 5:23 PM
6x6, I'm not paying any property tax right now. If I get a unit that stops paying, I will inform all bills on that property that they won't be paid until this is over. Except for insurance and mortgage. Then if it gets down to it, bank will be stuck before insurance.
Any new purchases I am going to request to escrow transfer and local/school taxes until this is over.
I'm really not interested in further funding a failed government. --70.44.xxx.xx
assets (by JKJ [MA]) Posted on: Oct 4, 2020 5:29 PM
“ What is to stop the banks from closing up and saying you are out of luck and the government from saying that they can not insure it as there is no money”, well what stops the government from passing a law saying the ownership of gold is illegal, or any precious metals or gems for that matter,(It happened once with gold)!Kens right, if your that worried it’s time to start “bugging out” and getting ready for Armageddon. --74.74.xxx.xx
assets (by 6x6 [TN]) Posted on: Oct 4, 2020 5:42 PM
I do have a multi fuel truck and other things Ken has mentioned.
NE, I am curious as to how long you will be able to hold off on paying property taxes before you are "forced" to?
When that time does come, will you not then owe more, due to interest added on?
Have you told the tax office that you will not be paying it and why?
What do you mean by " going to request to escrow transfer and local/school taxes" ?
assets (by NE [PA]) Posted on: Oct 4, 2020 5:51 PM
I have two years in Pennsylvania before they will sell a property due to nonpayment of taxes. I have not told them that I won't be paying, they don't care. The tax claim office just acts as a record keeper for what's paid and what's not paid. I will escrow my taxes each month as I have done for years into my own account and let that money sit there until the time comes to pay it. I'm just not going to give it to them now.
Sure, there will be late fees. I don't care.
As far as escrowing the transfer and School/local taxes. When you buy a property in Pennsylvania, the state gets 2% of the purchase price or the assessed value, whichever is higher. I will ask the attorney on the next property if I can escrow that instead of sending it in until I'm ready to pay it or have to pay it when I sell.
Same with school and local taxes. I'm not too impressed with what they're doing here locally either. I'm not interested in paying for stupidity.
In the long run, does it matter to the state or local municipalities or the school district overall? No. But it IS an action that I can take, so I'm taking it. Just like every other action that I've been able to take with this nonsense, I have taken.
Now if a whole bunch of people would join me! And I mean tons of people, it would make all the difference in the world.
assets (by 6x6 [TN]) Posted on: Oct 4, 2020 5:55 PM
Thank you NE.
It would make a change. --73.120.xx.xxx
assets (by Richard [MI]) Posted on: Oct 4, 2020 5:58 PM
As the boy scouts said, "Be Prepared". There's a lot of wisdom in this.
*A place in the country, preferably more than a tank of gas away from big cities. Or at least 2 hours out.
*Several "other places" you can go to. Why do you think RV's are experiencing record sales? It's not all because of C-19.
*Have you considered a boat that you could live on? Not a pontoon, but a sailboat. There are THOUSANDS of islands and places you could go to, if necessary.
*Ability to take care of you and your's for 6+ months.If your normal job goes away, have alternate skills. If you don't, learn some.
*Learn to grow, store and forage for food.
*Spread out any savings.
*You can't eat gold or silver but having some amount for trading purposes doesn't hurt.
*If you don't already have methods of defense, it's past time to get some.
*Get at least one side hustle going. Preferably more.
assets (by NE [PA]) Posted on: Oct 4, 2020 6:00 PM
Try buying canning supplies right now! They are wiped out. That should tell you something about peoples nervousness. --70.44.xxx.xx
assets (by 6x6 [TN]) Posted on: Oct 4, 2020 6:07 PM
Richard, thank you for those added points.
NE, a friend of mine just mentioned the other day how you could not find any canning jars.
I guess the writing really is on the wall. --73.120.xx.xxx
assets (by NE [PA]) Posted on: Oct 4, 2020 6:18 PM
6x6, my cousin and her family are homesteaders in Virginia. Her and her husband had a little online seed operation for their little kids to learn for to run a business. Started a couple years ago. Order bulk. Break them out into packets, etc. They sold over $70,000 in seeds this year! More than they ever thought they would. 7 kids, the oldest is 15. --70.44.xxx.xx
assets (by hubba hubba [CA]) Posted on: Oct 4, 2020 6:18 PM
Canning supplies now are like baking supplies 4 months ago. People are bored and looking for things to do.
It is not a sign of the apocalypse. --157.131.xxx.xxx
assets (by JKJ [MA]) Posted on: Oct 4, 2020 6:37 PM
Yup guns, ammo, security systems, canning supplies, gardening supplies, and outdoor gear are flying off the shelves because people are bored...........right! --74.74.xxx.xx
assets (by NE [PA]) Posted on: Oct 4, 2020 6:40 PM
People fleeing large cities in droves and waiting lists for U-Haul trucks because they are bored also.
It's good for selling houses in the country! --70.44.xxx.xx
assets (by JR [ME]) Posted on: Oct 4, 2020 8:02 PM
The media compete with each other for viewers, and the more dramatic the story, the more eyeballls and revenue for them. Believe about 1/3 of what you hear. They are trying to freak us out. It will get worse until the election is behind us.
Do you think the US government will fall? I don’t. If you think it won’t, then US treasuries are the safest investment. They are backed with the full faith and credit of the United States. That’s 330,000,000 people in a free and very prosperous society backing you up. Bank savings deposits are backed up to $250,000 by the US, too.
Diversified bonds in the form of an ETF or mutual fund are very safe. Likewise, stock mutual funds or ETF are very safe, by diversifying your investment in into 100s or evening 1,000s of companies.
Buried money? Please. Incredibly risky in terms of loss, theft, eaten by critters or dissolved by mold. Golds, silver, etc. Again big risk of loss if you keep it at your residence, and paranoid types fear that safe deposit boxes could be seized by the government.
This is a landlording site, and real estate can be a good hedge against inflation And profitable, but don’t kid yourself, it is a lot of work and has many unique risks like lawsuits, no paying tenants (presently being reinforced by the law)
Guns, ammo, seeds, dehydrated gasoline, etc. I have no interest in living in a Mad Max world. That discussion should be on a separate thread. --98.13.xx.xxx
assets (by Robert J [CA]) Posted on: Oct 4, 2020 9:47 PM
When Los Angeles had it's 1992 Riots, most banks and storage facility's were "nailed shut"! I had several apartment and commercial properties at risk in the Koreatown area (On or near Vermont Ave., between Olympic and Melrose Ave.) (Also On/or Near La Brea between Wilshire and Beverly Blvd).
So I had to have "supplies" standing by on this side to Town, not at my home in the San Fernando Valley -Woodland Hills area -- faraway).
Because I had needed items handy, I prevented some rioters from torching several places. I also had "tenants" in each property with knowledge and experience during a tour of service, I just had to give them to "tools" to help defend the property.
I also have an inventory of common repair parts in case of any emergency. As a contractor I have over $100,000 in parts, wholesale. Plumbing, electrical, building, wood, etc.
In an emergency, you can only rely on yourself. During the last swarm of California Fires, my friends needed water pumps so they could use the water in their pool to soak the roof and landscape. A 20,000 gallon pool filled up can save a house... But they also needed a generator and hoses.....
They refused to spend money when the times were good for extra security and piece of mind. So I offered to sell them a used pump, used generator (dual fuel), filled propane tanks, hoses and cords. --47.155.xx.xxx
assets (by J [FL]) Posted on: Oct 4, 2020 10:19 PM
I wouldn't worry about the banks. This isn't 2008. --72.188.xxx.xxx
assets (by PG [SC]) Posted on: Oct 4, 2020 11:46 PM
I agree with JR. To many people listening to the doom and gloom of the media. To many looking to gov for solutions. Every body has their on set of facts.
We will get through this it is NOT the end of the world.
assets (by Nicole [PA]) Posted on: Oct 5, 2020 12:01 AM
NE - your penalty, as you know, is 10% on the late school, county and township taxes. But double check what happens on December 31. Not sure how much gets added when it goes to tax claim for collection but I believe it is the 10% plus an additional rather significant sum.
Also, recorder's office won't record deeds w/o the transfer tax check being presented at the time of recording.
I think one time you said you go to wolgemuths. Should be plenty of canning supplies around the general area. Specifically, Weavers in Fivepointsville (about 20 minute drive north east) had plenty.
I have, at this point in my life, a good diversification of assets and I'm not worried for myself or my family for anything monetarily. I am; however, worried about how society as a whole is expected to function with so many restrictions, especially when they seem random and, at least in Pennsylvania, enforced "at will". The schools specifically drive me absolutely bonkers. Two of my grandkids only go two days a week (other option the school offered was zero days a week)... but fall baseball and football are alive and well and they participate in those weekly ... but no pep rally's or homecoming permitted !!!
assets (by Landlord ofthe Flies [TX]) Posted on: Oct 5, 2020 5:12 PM
I think all things can be safe if done correctly.
Cash - keep some cash at home, keep the rest in multiple banks. Choose both big banks, and small banks with a minimal amount of loans. If you want to be really safe, open a foreign account and keep foreign currency in it too.
Stocks and bonds - buy a wide variety of stocks and bonds. Take a lesson on the businesses hardest hit and pick the stocks for companies that were successful during the epidemic. Also own some foreign stocks too on their local exchanges so you'll accumulate foreign currency with dividends.
Gold/Silver - buy gold, but I'm tempted to have a store of it in a non-bank vault in a foreign country so I'll have a nest egg to run to should everything go to pot. Real estate and metals, not stored in bank, held overseas does not need to be reported to US.
Real Estate - buy a variety of types, in different areas, maybe in different states. Stay away from buying houses in small towns supported by only 1-2 companies. Stay away from large metropolitan areas where riots could occur.
Have a 6-12 month supply of dried foods, water, necessities, and bullets. Buy camping supplies too. You never know. --108.69.xxx.xxx
assets (by Pmh [TX]) Posted on: Oct 5, 2020 5:36 PM
bank accounts are back stopped by fdic. have been for close to 100 years. there are account limits so spread your cash around. there continues to be a shortage of 9mm & 380 though. if you can find then stock up b4 the dems get in...they will. no shortage of shotgun shells though. go figure. --107.77.xxx.xxx
assets (by 6x6 [TN]) Posted on: Oct 5, 2020 6:27 PM
Thank you all for the replies.
Pmh, do you not think that the government could just say the FDIC is bankrupt and everyone is just out of luck?
I am not saying that it will happen but what is to stop them from doing it?
LLOTF, How does one go about dealing with foreign banks? --73.120.xx.xxx
assets (by JKJ [MA]) Posted on: Oct 5, 2020 9:02 PM
What if’s, what if the government says the FDIC is bankrupt, you’re out of luck, what if the government says owning precious metals is illegal, what if the government takes our properties, what if an asteroid hits the earth again and wipes us all out, what if the sun implodes and we all die? If you go through life worry about all the what ifs in this world you’d be curled up in bed in the fetal position the rest of your life. The media sells sensationalism, that’s what gets viewers. THE WORLD IS NOT COMING TO AN END. Go about your life, deal with the challenges
as they come, don’t drive yourself crazy worrying about the what if’s that will never likely happen. --174.196.xxx.xxx
assets (by Ray-N-Pa [PA]) Posted on: Oct 5, 2020 9:37 PM
How does that song go....
Send Lawyer, Guns and money --24.101.xxx.xx
assets (by Pmh [TX]) Posted on: Oct 7, 2020 7:13 PM
6x6: fdic backstopped by the US. the program was implemented in the 1930’s to avoid the problems of banks going bust bc they didn’t have enough cash in the vault to honor cash withdrawals. If we ever get to the situation where bank accounts not back stopped then we are in a pickle 100x worse than then & good time to have ammo & can goods in the pantry to last you 20 years. The US can always borrow to fund liabilities...as you & me pay for every year by 4.15..there will be a time though when as the great Maggie Thatcher said...eventually you run out of other people’s money.... --72.180.xx.xxx
assets (by Deborah [OR]) Posted on: Oct 8, 2020 7:51 PM
You all need to read about the law that permits bail-ins. The bank can take your money legally to satisfy debt. Look it up. --216.155.xxx.xxx
assets (by NE [PA]) Posted on: Oct 8, 2020 8:15 PM
Deborah, have multiple bank accounts at different banks. --70.44.xxx.xx
assets (by Cjo’h [CT]) Posted on: Oct 11, 2020 9:02 PM
And don’t forget it isn’t that far to the Canadian Border,if you can make it that far....................charlie........as long as you don’t run out of gas(petrol).......................... --32.214.xxx.xx
assets (by cjo'h [CT]) Posted on: Oct 11, 2020 9:27 PM
pmh,did maggie say that?where is Maggiie now.we never hear a word about her.............charlie. she was quite a character --32.214.xxx.xx
assets (by David [MI]) Posted on: Oct 12, 2020 3:31 AM
Put some money in caribbean or swiss bank accounts. And maybe start working on a second passport --50.4.xxx.x
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