Personally I am a fan of Silver and Gold Coin. Much much more than a 401k. I have friends and family that have lost millions in their 401k already. With coin you have real money . The price of silver is manipulated by a keystroke that is true but there is a limited supply compared to a gold glut and the world is using silver at an increased pace and that silver mostly disappears in the form of batteries, electronics etc...

The movie Too Big To Fail was supposedly accurate. Just before the Great Financial Crisis we were within hours or days of the entire financial system shutting down, or hopefully only taking a few days off. If that had happened it would have been a rough few days because if the banks are on holiday plastic doesn't work. If plastic doesn't work then nothing works. Plastic = credit, debit cards, food stamp cards, etc. Think about it.

I can't believe we will have times like the OP's wife is referring to. A bank holiday is another topic altogether. If it happens it won't be a holiday for anyone.

Just for grins watch the movie Too Big To Fail and see what you think. The so called "Lehman Moment" nearly crashed everything. The Feds got together and literally made the biggest banks buy a sick bank or two, like Bear Stearns. etc..

https://www.investopedia.com/lehman-moment-6752348

I wonder how close we may be now? News as of today:

https://www.zerohedge.com/markets/banks-usage-emergency-fed-funds-hits-new-record-high

"Usage of The Fed's emergency bank lending facility (BTFP) rose by $378 million to a new record high of $107.2 BN"

A guy named Bix Weir on Youtube, I think the channel is Roadtoroota. He is easy to listen to and deep dives into the where why and who.

Try this approach. Tell her how about for starters no more hair salons manicures pedicures going out with the girls dinners out casinos cruises. sell her really nice car and get a beater, her birthday, mothers day and Christmas gifts can be a hug only....and you'll put all that newfound cash toward gold. I wonder what she'll say to that?

By the way most of my buddies wives hate me for putting these ideas in the husbands heads...

No financial expert but if there is a collapse, it seems that it would be important to have your mortgage and other bills paid off since whatever money you had in the 401k will be gone.
As other have a substantial amount of basic necessities to survive for quite a while(prepping).

In my household I make all financial and household decisions, and my wifes job is to support my decisions

I's collapsing tomorrow, you're too late. Load magazines....

Happy wife, happy life.

Never been there or done that, but if the dollar fails us economy goes belly up I doubt weather you owe money to a bank is going to matter or not.

Slow and steady w available extra funds

My wife has all the bills paid off except my truck (1.9%) and 50k safely stashed. She’s been through this before in Vietnam. We’re not touching my TSP as it’s all in G funds.

You bet your azz whoever takes over the failed bank will want repayment, just a matter of who and when!

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Is gold and silver worth buying right now? I think its a 20% penalty to pull money out of 401k. The penalty is much worse if she is right though lol.

Cheers[/quote]


I follow Buffett on this one: https://investingnews.com/daily/res...ing/gold-investing/warren-buffett-gold/. <-- there is some wisdom here

Buy some real estate. It has done us wonders. g'luck

I think it the dollar fails like folks are talking about needing guns and ammo power grid goes down etc it will just be a free for all but who knows.

$1900.00 or below would be a good strike price for gold but I don't think I would be going all in on it.

Just wanted to say THANKS for all of the advice and input…it helped cool her jets quite a bit…for now! lol

Thanks again!

Robert