Quote: One point you raise, currency devaluation, is a curious problem. [snip] Of course, you can make inflation work for you instead of against you. Big home mortgage? Big win if the dollar devalues.
Trust me, I have given this a lot of consideration. I am torn between two courses of action. (1) Be greatly in debt and let the lenders suffer the consequences of a devalued dollar; or (2) the "bunker mentality" of being beholden to no-one and thus my assets will be safe.
#1 is distasteful to me, the idea of deliberately taking action to set myself up to profit from others' misfortune does not sit well with my personal sense of morality.
#2 feels more secure to me, although I am quite willing to accept that I may be reasoning from insufficient knowledge. My plans are to build my new home in Mexico without a mortgage, owning the property and the house free and clear. I have enough land and suitable climate with the house to grow food should it become necessary. My only inescapable financial obligations will be annual taxes on the house (~$200 per year!), and utility payments that will run considerably more but which I may be able for the most part to avoid.
My wife and I both have medical insurance as long as our pensions remain solvent (something we are not counting on!) so one potentially major expense is somewhat alleviated.
I am prepared to hunker down in my fortress of a house (8" thick masonry walls, steel bars on the windows, 6' stone wall with razor wire surrounding the whole property, etc.) and wait it out, hoping that my paranoid doomsday scenario never actually comes to pass.
Above all, I keep in mind that no matter how bad it gets, I will still be among the fortunate few. My problems, real or anticipated, are completely trivial compared to those of billions of other people on this planet. There are people who only have time and resources to try and "...steal enough food to keep the baby alive for one more day, and hope the bombers don't come again tonight..."
tanstaafl.
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"There Ain't No Such Thing As A Free Lunch"
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