I'm starting this thread as a means to get member's thoughts on some of my own near to mid term plans and also to engage in a wider discussion of the practical side of our research and understanding of how the world works and where it's going, particularly in terms of finance and the prospect of an economic meltdown.
Business has been very good lately and barring a complete meltdown in the next few years, I stand to get myself well taken care of.
Now, money is slowly but surely accumulating, but it's just sitting there.
One of the primary things that I'd like to take care of is my house where I live with my wife, son and dog.
I'm considering getting a loan to remodel and make it a cozy home, but also allow for a substantial vegetable garden and nice landscaping.
On top of that, I've discovered that a fully functional state of the art solar panel electrical plant that is able to produce more than enough to sustain our household can be had for no more than 9000 Euros. This, combined with insulating the house ciuld make us pretty self sufficiet in terms of energy needs and, most importantly, less at the mercy of rising energy costs.And they also give you better terms on the loan if you're using it for improving,...cue magic word... sustainabilty.
In the context of the impending economic ollapse, does taking out a loan with fixed interest rates make sense to you?
If I don't put the house down as collateral and keep making some money, I don't think the bank can do much about it if inflation starts soaring. And if things go really south, my debt will be the least of the bank's worries.
And besides, leaving the money sitting around is the worst idea, while investing in gold doesn't appeal to me when gold isn't really useful in and of itself. Prices for construction and most everything else will be going up and I feel this is the last moment to do something of this nature without getting fleeced.
I'm looking forward to your thoughts, ideas, and differing viewpoints.
Thanks for reading.
