Hello Everyone.
Although many people are calling for the end of the world, I doubt this will happen, however this does not mean I don't prepare financially for things that may happen.
OPTIONAL: Music to listen while you read and prepare for the FUTURE... :)
Here are my personal basic rules for finance and why I don't let work stress me out.
1.Always have 6 months worth of income handy for when OR if SHTF, like job termination, earthqaukes, death in the family, and etc.
2.Tomorrow is another day... Get your rest.. If you have rule one in place, your job is not your only lifeline.
3.Have a side job going where you hustle for extra CASH, but paycheck is ok. (Valet jobs are chill and pay decent with tips)
4.Spend less time on TV, Movies, and shit that removes you from your financial goals.
5.Have long term vision, know that your goals of money are unlikely to be achieved overnight, but keep working on them and adapt to situations.
With these basic rules in mind, the following are way I have diversified and hedged against things in life and so far, things are going great.
Gold and Silver : This is different per person, but if people want to protect themselves against inflation, gold and silver will help out, HOWEVER, this is not a get rich tactic, but rather a strategy to survive the financial turmoil. I see many people thinking gold and silver will make them rich... WRONG.... Gold and Silver Stocks might do that is you are a good stock picker, but the physical metal is meant to protect you fiancially and increase in value as all other items around you also go up thanks to inflation. So a 3000 gold round is great, but what if food, water, oil, and other items also go up in value. Your paycheck may not go up in value, but Gold and Silver will and this is how they protect you. While your paycheck may not go up to keep up with the price of items, gold and silver will, thus providing the shield people seek.
To that end, NOOBs always ask... how much GOLD should I have to protect myself.... Well to each his own, but the following should give you a simple glimpse.
Then you have the SILVER GUYS asking the same... The number change according to the value of silver, but you get the idea.
GOOD F*ing info right.... :) Let's continue.
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CRYPTOCURRENCIES: With so many out there, which ones do you chose to diversify against the local Fiat currency.
This one is scary and confusing to some people... so let me be clear... pussies need not read this section... Manginas are welcome to skip this section. Only people willing to see the future and all the great and scary things that are coming with it should read this section.
Most people think... OOHH I MISSED the BOAT on Bitcoin.... DUDE... there are over 600 damn cryptos, but if you want in on this stuff in order to diversify even more away from the dollar, here are the ones I recommend.
I only stick with: Bitcoin, Litecoin, Etherium, Monero, Maidsafe, Steemit here, and Dodge. Beyond that I don't mess with them. I may mine them but nothing more than that.
If you feel you want to buy a few cryptos, here are some sites to watch. Gemini, Coinbase, Eobot, and Genesis Mining.
Google them if interested in them.
These are pure speculation. I know the supporters of crypto are claiming this will change the world, and in a sense, they are correct, but NEVER throw all your eggs in one basket. It only takes for govt to shut down or raid sites and your cryptos are gone. Alternatively, you can park them on a hardware wallet or paper wallet, but if you forget that or lose that... You are SOL Fucked.... Cryptos can be very profitable and help you get out of debt or quite honestly make you a wealthy person.
Again, I don't put all my money there, but I do expose myself to these currencies as a way to diversify. As time goes by, I do see these currencies going up in value, so long term potential is very profitable. I do expect Bitcoin to drop in price once govt see it as a threat, but for the moment it is still going up.
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COMMODITY STOCKS:
For those who also want to be part or want to be business owners but don't know how or want to avoid all the regulation BULLSHIT OUT THERE... Thanks uncle Sam for fucking with peoples dreams by making it impossible to start a business in America....errr.. right... Best way to start a business is to be part of one that you expect to go up in value or be part of a management team who you believe will do a good job....
Enter Commodity Stocks- Look at stocks in copper, cobalt, graphite, lithium, and obviously gold\ silver.
For Copper: I like Cascadero Copper recommended by one of the Hereos from my previous Blog, Ed Bugos. You can look up other ones but you are one your own.
For Gold : SBGL stock, SA stock, Goldmining Co, and owning the juniors ETF.
For Silver: AG stock, Bayhorse Silver stock, and the junior ETF as well as above.
Also: First Mining Finance company and stock.
For Energy: I only monitor 3 stocks and buy in gradually over time. There are cyclical items so I am long term adding slowly.
For Food: I also monitor three and buy gradually over time. The price averages out as you continue to buy.
Do your own homework. I can't give out my entire portfolio here. :)
BONDS: This section is not that difficult, but you will need to know how to trade options.
So WTF are BONDS you ask... In short it's reverse loans from the citizens to the government or local govt's as in municipalities and what not. When a bank lends you money and you pay interest back, its a loan, but when you lend money to govt, and get paid interest on it, its called BOND... honestly, its just a name meant to scare off those not capable of keeping up with wth they are talking about.
Without going deep into this shit, here is what you need to know: Know how to buy calls and puts. Calls are bets you make that a stock or certain ticker symbel will rise to said price called a strike price. Puts are bets that a stock or ticketr symbol will drop to said strike price... Simple garbage right... good.. :) moving on..
Since I don't have time for all this crap, I only track TBT, TLT and BND. Those three are the only Bond MArket ticker symbols you should learn about and follow. Once you understand how they work and how the interest rate policy affects them, move on to place yoru bets using put \ call options. :)
I always go long term puts or calls and hedge against them with smaller opposite positions to hedge, but the long term position is meant to win. :)
FIREARMS: This are get weird for some Snowflakes or people or faith. Look, the bottom line is a bad person who wants your gold\silver, or wife for a good time won't care about yoru beliefs... They will just take them... so best to have something to add another layer of defense. :)
Preppers will say, you need a shitload of guns... but the fact of the matter is you don't. You only need 3 basic firearms. Shotgun and handgun should be plenty in a time of crisis, but I understand if you feel better with an AR-15 or AK-47. :)
You honestly don't need anything else than this. If a prepper tells you otherwise, ignore it. You are preparing financially in all areas and NOT FOR THE END OF THE WORLD. We want to survive and be well off during the hard times, thus why spreading and being diverse is what will help you be successful. Being able to adapt is important.
CASH:
This one is one I like. Although many peopl depend on their main job for income, you don't have to. Have a weekend gig, or evening gig. Consider this 2nd job as your insurance policy should you be fired or laid off from your main job. If you have the 1st rule from above and this as well, you my friend as safer than most people out there.
Also, turn you hobby into cash opportunities. Sell your services to people and get paid in cash.
Sell all your old rap on Ebay, Craiglist, and basically get rid of anything that might be a distraction to you from your financial goals.
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-Education Degree:
Get a degree that will back you up during any time of the year. All types of repair technicians are used throughout the year. It does not really matter which type of repair tech, but they are in demand most of the year since things will always break. Car Repair, computer repair, AC repair, and other types of repair. These jobs don't pay a fortune, but they are always in demand.
Whatever you do, stay out of debt. Extend graduation is you really want this degree but above all, stay out of debt. By now everyone should know this. Please watch video below to further explain this stuff. The type of degree you have will also help you in the future, but if you get the shitty ones, you will not make money.
-----College Conspiracy video-----
Sources Of Income:
Everyone should always have a min of 5 sources of income, passive or aggressive.
Passive in the form of dividends from stocks and lending Club items. Aggressive in the form of having a main job and a 2nd job plus hobby income. also playing in the markets, cryptos, and well.. you decide...
THANK YOU EVERYONE... PLEASE VOTE THIS UP IF YOU FOUND THIS INFORMATIVE. :)