Economic collapse!!What should be done to prepare?

[Grey Thumper]

Wouldn't a (pedal) mountain bike be more useful than any motorcycle? No need for gasoline and all.

[madjak30]

Wouldn't a (pedal) mountain bike be more useful than any motorcycle? No need for gasoline and all.

Yup, I've got six of them in my garage...three of them don't get used at all, or atleast not in a couple of years (two are mine, and one is wifey's)...the kids use theirs on a regular basis...

If the 13yo has anything to say about it, hers will not be used past next summer when she turns 14 she figures she will get a 50cc scoot and be done with the pedal thing!! Wifey sees it quite differently

As for the economic down turn, in reality...I'll just keep making my payments to the RRSP fund, when prices drop I just get more shares for my payment...so it is a good thing for me, I don't worry about the actual value of the shares since it will be another 20yrs before I start to plan retirement...and unless the economy implodes on itself, to which you will have no protection anyway, I know the value will go up in that time...so "Don't worry, Be happy!!"

As for the Mayan calendar thing on Dec 12, 2012...their civilization died out long before that, and they were probably still working on the calendar when more pressing situations materialized for them...

Later.

[High_Side]

Wouldn't a (pedal) mountain bike be more useful than any motorcycle? No need for gasoline and all.

Yup, I've got six of them in my garage...three of them don't get used at all, or atleast not in a couple of years (two are mine, and one is wifey's)...the kids use theirs on a regular basis...

If the 13yo has anything to say about it, hers will not be used past next summer when she turns 14 she figures she will get a 50cc scoot and be done with the pedal thing!! Wifey sees it quite differently

As for the economic down turn, in reality...I'll just keep making my payments to the RRSP fund, when prices drop I just get more shares for my payment...so it is a good thing for me, I don't worry about the actual value of the shares since it will be another 20yrs before I start to plan retirement...and unless the economy implodes on itself, to which you will have no protection anyway, I know the value will go up in that time...so "Don't worry, Be happy!!"

As for the Mayan calendar thing on Dec 12, 2012...their civilization died out long before that, and they were probably still working on the calendar when more pressing situations materialized for them...

Later.

I can't say that I am a lot different in letting things ride in thje market than you, but it still hurts to lose 6 months worth of income in a matter of 6 days. However I could try to time the market and take the chance that I could miss some of the few up days that occur and likely end up even worse.....

And to the other part of your comment - It's funny how kids are so different: your daughter can't wait to give up peddles for something with a motor and my son is 10 times more interested in his mountain bike than his TTR 125......and he is my son???? Perhaps he was switched at birth?

[totalmotorcycle]

I can't say that I am a lot different in letting things ride in thje market than you, but it still hurts to lose 6 months worth of income in a matter of 6 days. However I could try to time the market and take the chance that I could miss some of the few up days that occur and likely end up even worse.....

And to the other part of your comment - It's funny how kids are so different: your daughter can't wait to give up peddles for something with a motor and my son is 10 times more interested in his mountain bike than his TTR 125......and he is my son???? Perhaps he was switched at birth?

Quite the see-saw. It will be interesting if today the market is down again.



The thing about the stock market is WHEN do you sell? These last few days about show you never know what it will do or if there is even logic behind it all to make informed decisions IMO. You gotta wonder what the owners of Bre-X or Nortel were thinking as the stock was going down (or up). How many held on not selling till it went under $1? I might have been one of them myself if I owned it, hoping the price goes up again next day...

About your son, it's amazing how interests come and go. I guess that explains "teen fashion" and social media sites.

Mike

[High_Side]

You can't really use Bre-x as an example of a regular stock when the owners were aware that core samples had been salted. One of the largest stock scams in history left one of them filthy rich, one dead of a heart attack, and the core sample guy missing and presumably dead although no body was actually ever found. Amazing stuff, and stock holders really should have asked themselves how this gold mine could possibly contain that much more gold than any other in the world? Greed is blinding.

[sv-wolf]

Wouldn't a (pedal) mountain bike be more useful than any motorcycle? No need for gasoline and all.

Yep I'd go for that. But I'd also want a chicken coop with a dozen hens in it. Don't know about you but, my bicycle runs on fried eggs and omlettes.

I'm not looking at my unit trusts. Not looking. Not looking. Not looking. (Eyes down, Rich, and think long term!) In the mean time, I'm preparing for an active retirement.

[jstark47]

In the mean time, I'm preparing for an active retirement.

Yes. "Active", alright. I'll be actively working for years into my so-called "retirement"...

[blues2cruise]

In the mean time, I'm preparing for an active retirement.

Yes. "Active", alright. I'll be actively working for years into my so-called "retirement"...

Me, too.

We better go buy ourselves some lottery tickets.

[sv-wolf]

Well, that's 3 out of 3. Looks like the stats are piling up for the baby boomers.

[totalmotorcycle]

I've always lived by the principal of "Save for a rainy day". I've had so many ups and down in my life it's taught me to do that. Paying off debt has helped too, but it means a little less of a lifestyle and a lot of dedication in the beginning.