You did well.I did get around to putting 20k for her and I into I bonds last night. The Treasury website is kind of clunky, but not too bad. That leaves about 30k left that I have to allocate yet. We decided to take about 10k and improve the house a bit more. Simple repairs and stuff is also expensive right now, but we found a decent contractor which seems to be a rarity these days.
Thanks for the tips!
People are losing their shirts this year... I agree we may still see the market slip a bit. It doesn't look like Russia is going to stop their shit anytime soon and China too. Pool cash and spread your buys out some. It's going to be a long climb back to where we were last year. Expect a 1-2 year recovery when it flips back to a bull market.The risk that the market plunges is very high. The only reason it hasn't so far is because of (well founded) skepticism that the Fed is serious.
Assume the main purpose of the Fed's policy is to compel RTO haters to go back to the office (among other things). How far do you think the market has to drop to make that happen?
If you think precious metals will protect you in a financial collapse, you're solely mistaken and the only reason why such metals often don't collapse is for the same reason you want to buy it : because people think it won't collapse. Silver and gold are useless commodities that are good for only jewelry and why they even continue to have worth is beyond me now that almost zero currency is backed by gold.I suppose now is a good time to open an investment TFSA account though. I just opened one up through the same site I trade stocks with. I'm not sure what they use in the background for investment, like if it's index funds or what, but it's basically one where they manage everything. Probably yield better than me picking stocks. I'll still keep the stock account open though but focus more on putting money in the investment account. I have it set to put $100 every 2 weeks for now. I still have $100 going to my regular TFSA with my bank, but that's only really used for short term savings, and is mostly going to be used for silver, gold, and just generally saving up for stuff.
Silver is actually down a lot too, but there's lot of people suspecting it's going to eventually explode as it's been kept artificially low for a while. Not putting my entire life savings into it but it's nice to have something physical to protect from a complete financial collapse.
In a way it's not any more real than crypto, since it's not backed by anything.
Except for the full force of the government and military. Also can pay tax obligations and pay for a roof over your head. Sounds a whole lot more real to me.
I think you vastly underestimate the power the feds have in not allowing inflation to run rampant like in Venezuela, Mexico, etc and other much much more corrupt countries.True but it is being so devalued and at a faster and faster rate each year that if it continues this way it won't be able to do even that because you'll never have enough of it. The taxes and costs of living are going up at a faster rate than we are getting money. In Venezuela at some point there where throwing money in the streets since it became useless. We're heading there.
At some point it used to be backed by gold but it's not even backed by that anymore.
True but it is being so devalued and at a faster and faster rate each year that if it continues this way it won't be able to do even that because you'll never have enough of it. The taxes and costs of living are going up at a faster rate than we are getting money. In Venezuela at some point there where throwing money in the streets since it became useless. We're heading there.
At some point it used to be backed by gold but it's not even backed by that anymore.
Purchase I-Bonds.
I like the idea, but the process for doing it is kinda painful. They make you sign this form and mail it in before you can order bonds, like we were still living in 1987.
www.treasurydirect.gov/pdf/rs/acctauth.pdf
If I'm reading the form right, it needs to be signed by someone at my bank??
They make you sign this form and mail it in before you can order bonds, like we were still living in 1987.
- Crypto is just more removed from reality than the dollar though isn't it? No one asks how many cheeseburgers for one Xcoin, or how much is this car in Xcoin, or how many groceries for an Xcoin. All anyone cares about is crypto's conversion back to the dollar, which is still inflating underneath the coin anyway. Its not like 1 Xcoin will always get you a cheeseburger while that cheeseburger continues to inflate from $5 to $6 to $7.
So really you're just layering a bullshit currency on top of another one. I'd rather stick with the basest level bullshit possible, which in today's world is the dollar.
You can set up an individual account completely online.I like the idea, but the process for doing it is kinda painful. They make you sign this form and mail it in before you can order bonds, like we were still living in 1987.
www.treasurydirect.gov/pdf/rs/acctauth.pdf
If I'm reading the form right, it needs to be signed by someone at my bank??
it was online for me and some friends. i think it only requires a form if there's some problem verifying your information or something. i have seen some people run into a situation like that and need a medallion signature from their bank, but that doesn't seem to happen to most people.
Yeah, that's what happened to me. Weird.
Oh I agree I don't think crypto is any better. It COULD be but it has some issues like ease of use, fees, scalability, fact that there are so many of them etc. One strength it may have is that nobody can just create new coins out of thin air like the fed does with fiat, some kind of work has to go into it.
I get a kick out of the onscreen keyboard you have to use to type out the login password. First time I saw it I thought you have got to be kidding me … I use a password manager and set it to 30 random characters, numbers and symbols so it’s a nightmare. Of course I’ve realized since then that it truncates at 16 or so without informing the user.
| Price Based On | 2021 Begin | Dec 31 Close | Return |
| Jan 4 Open | 3764.61 | 4766.18 | 26.605% |
| Dec 31 Close | 3756.07 | 4766.18 | 26.893% |
| Price Based On | 2021 Begin | Dec 31 Close | Return |
| Jan 4 Open | 7,777.41 | 9,986.70 | 28.407% |
| Dec 31 Close | 7,759.35 | 9,986.70 | 28.705% |