WHAT TO DO??????greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
My wife is still not sure how to prepare and what to do about money. Should we stop putting money in our 401k and buy gold and silver coins? Should I pull what money I can out of my 401k? How long should we perpare to be without certian things like water, food, gas, electiricity, natural gas? Do you think we will run out of things like clothes? Thank You for your time. Dean Erickson
-- Dean Erickson (firstname.lastname@example.org), June 08, 1998
I am preparing for at least 2 years of disruption. If there is a run on banks (which there will be whether the threat is real or imagined) most commercial farmers who depend on loans to get their crops planted, will not be able to get said loans! The prices of ag good are dropping all the time due to an overabundance of wheat and corn, so that is a further disincentive to plant. (This reminds me of the 7 years of abundance followed by the 7 years of famine in Egypt).
I feel the yr. 2000 crop is a wash, and maybe in 2001 some crops will be planted but not all. As far as preperation, first get your foodstuffs such as wheat, corn, a hand grain mill, water, etc. Then prepare for disruptions in electricity by either getting a good wood burner, or a generator. I would gradually start taking your money out of the banking system, as I feel at some point the government will freeze all bank accounts to stave off the runs. If you are in a city it's best to move now while the general public is basically unaware of the problems that are coming. Later you may not be able to leave. There are many sources of long term storage foods on this and other sites, now is the time to order. Many suppliers are experiencing up to 6 month delays in shipping food orders due to the backlogs. As far as clothing, go to your nearest thrift store and buy a bunch of stuff, wash it and put it away. Having silver and gold is a good idea but get your food squared away first, you can't eat coins!
If this all sounds extremist or alarmist to you, it is! The situation dictates extreme measures and an alarmist attitude.
-- Rod (email@example.com), June 08, 1998.
You can also join the Candace Y2K-list. To find out how see the faq-
I've been watching gold and it's just sitting around 293/oz... I'd like to cash my series EE savings bonds though - most of them are just now becoming 7 or 8 years old. we'll see if my dad lets me (I'm 19).
I'd get a gun of sorts too. JIC
-- Ken (firstname.lastname@example.org), June 08, 1998.
As far as gold and silver goes...most of what I am reading is that to have some is good....better, if the disruption is long term to have barterable goods....food, clothing, day-to-day stuff. Money, as the saying goes, is whatever two people agree it is in a transaction.
What to do: Improvise, adapt and overcome. Simplistic, but it is one of the things I am remembering to help me cope when I feel overwhelmed with all this....
-- Donna Barthuley (email@example.com), June 08, 1998.
I don't have too much in my 401k, since my employer just recently started it, but I have decided not to take any out or to cancel it. This will be the one area that I will take a risk and just keep it in case Y2K isn't a total catastrophy. Maybe I'll lose it all, but if not, then I still need something for retirement.
I did take all my money out of my savings account and got my money out of a CD recently. I only keep enough in the checking account to pay the bills. All my extra money is hidden in a mason jar in cash (just like my grandparents during the Great Depression!).
I am hoping to store up enough food, water, and supplies for a year, but I have very little extra money beyond living expenses, so I will just have to do my best with what I have. If only I had an extra $4,000. . . . ?!
Keep surfing the Net and you can find alot of helpful info on food storage and how much to buy.
Good luck!! Mary
-- Mary (Beachyfe@hotmail.com), June 14, 1998.
Some 401K programs offer various investment options (conservative fund, agressive fund, green companies, etc.), which lets you move your money into a government fund, t-bills and such, without penalty. If your 401k program is like mine, however, you can shift money around only twice a year -- June and December, in my case. If things really "go Milne" and get so bad that even government securities become worthless, the rest won't matter much anyway.
-- J.D. Clark (firstname.lastname@example.org), June 14, 1998.