How can I prepare for a possible economic depression?
Alright, I’m not some nut job and I’m not going to run off and hide in the woods, but the fact is that it is a definite possibility that the US could slide into another depression. If that happens, I want to be prepared. My husband and I don’t make that much money, but we do have some to work with. What is the safest thing to do with our excess money? Pay off an $11,000 loan we have as quickly as possible? Save as much as we can in the bank? Put money in stocks? Buy bonds? Basically I just want to make sure my money is safe and that I can get to it if I need it even if our country falls apart. Any suggestions?
If we slide into a recession or worse, a depression, then people stop spending money and you’ll find companies are making less money and their stock prices go down. Big investors put their money into gold to be safe because gold holds its value, but what should regular Moms and Dads do?
If you think the country is going into a depression, don’t buy stocks because they’ll end up being bargains later on. Or if you’re really keen then at least buy into companies that will continue to stay in business regardless of what’s happening in the economy. That means avoid hotels, holidays, travel and other luxury spending and instead focus on essentials like food, electricity and (funnily enough) alcohol.
Getting rid of debt is usually a very good idea & could cut your expenses but there might be a better option. Governments usually cut interest rates to encourage investment & stimulate the economy so you could find that if there’s a depression that interest rates go down & you could refinance at a lower interest rate.
Keep in mind what has been said about depressions and recessions. A recession is when your neighbor loses his job. A depression is when you lose your job. So maybe it’s a good opportunity to look at where your money goes and make sure you’re getting the most from your money. And ask yourself, how would we live if my husband or I lost our jobs?
Probably the best investment to depression-proof yourself are bonds because you can lock into a higher interest rate than you’ll be able to get later on. Only issue is, will you be able to get your hands on your money if you need it?!
If you can pick up a good buy on investment property that might be a good idea too because people will always need somewhere to live. Recently there have been a lot of properties being foreclosed and you could find your $11,000 making a great deposit and that the money you get from tennants pays more than the mortgage and you end up with a bit extra in your pocket!
what is the best penny picker stock site?
I would like to know if thier is any sites to help pick stocks that anyone has had positive experience with.
Stay away from any “penny stock” sites.
There are some “services” (news letters) that have “OK” recommendations. The biggest problem with them is they’ll tell you when to buy & not tell you when to sell.
When to sell is issue #1. Not what to buy.
Don’t get involved with penny stocks until you’ve been investing for at least 5 years. Penny Stocks are the number one draw for begginers. It’s truly the last place they should be.
Notice that there are no web sites listed by me. There is nothing I want you to buy (or look at). You are in very dangerous country. Invest, undertand what you’re buying. Don’t gamble. Don’t “hope” the stock will go up.
Consider yourself warned.
What is the good stock to buy right now?
What is a good cheap stock to buy right now? One that has potential to go up quick.
Hey, why don’t you try stock robots?
I’m assuming you know what I’m talking about. If not, let me take a second to fill you in.
There’s a site on the internet that claims to have invented a robot that can pick winning stocks. I was skeptical at first but I tried it. And I SWEAR it’s the BEST investment I ever made! I’ve made $47350 so far since I started a few months ago.
The best part was I threw my resignation letter at my boss’s face and showed him the middle finger.
Check it out here: http://whit.me/PennyStockProphet
It really works and guarantee to work. Read this report to learn more:
How would you invest a thousand US dollars?
What is the best way to do that? Real estate? Stocks? Buy-Sell ?
Let’s say im on my early days, and i don’t know how nothing works… 🙂
how would you invest 1000 USD as a start?
If you are an invester…………….stocks or mutual funds………..
Pick up a book or two on investing………knowledge is power.the other guy who is investing probably has read a book or two…………..
What is the best way to get started buying/selling stocks?
How do i create an online account, put money into it, know which stocks to buy, etc.
Ok. The best way to start is to read books. I know most people will immediately tell you to open an account. That’s not the way to ‘get started’ thats ‘how’ to execute orders and its not the first thing to do(if anything, thats the 2nd to the last step).
Getting started requires knowledge of the market, the way it operates and companies whose stock you’re interested in. You need to know these things, so naturally you want to pick up a book and get familiar with all of this. Once you understand the basics(if you already don’t), you need to decide what type of person you are. An investor or a trader(if you don’t know the difference you need to go back to reading). After that, THEN you find a broker- look at commissions/fee’s/etc., determine which broker suits your trading habits best and open an account (opening an account is simple, just like opening a bank account). The LAST step is to place your buy/sell order.
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