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Old 12-26-2012, 12:24 PM   #4
Krystal Locke
Location: Phoenix, Oregon
Join Date: Jun 2004
Posts: 395
Re: Financial self-protection

Rupert Atkinson wrote: View Post
What with the economies of the world going nuts, what are you guys doing to protect your future?
I am slowly transferring a modest inheritance from savings into my IRA to take advantage of both a decent (relatively speaking) interest rate and a favorable tax situation (little income, moderately large savings account full of untaxable money, large tax credit for IRA contributions). Win win win, thanks mom, I miss the shit out of you and would gladly trade the cash for another day, but the universe just doesn't work that way so thank you I love you.

I have had a very short year income-wise due to the economy hurting the business that I work for, so some of the savings have gone to expenses and I fear and regret that a lot. To ameliorate that, I've really just shopped sales, learned to garden, can, freeze, and store non-perishables.

Old technologies really interest me in hard times. New technologies do, too, but they are often blind to reality where older technologies are a little more reality driven. My scooter, por ejemplo. 20 bucks a month total operating cost if I commute to and from work every day. But, only flies 8-9 months out of the year because it is blind to the fact that it is freaking cold and wet in winter here, and I am still carrying insurance on the truck for those 9 months.

I am not sure I go for the want vs need when others are dying argument too much. My sphere of influence goes only so far, I am far outnumbered by folks who have "less" than I do and I don't have the capacity to vet all the needy, I contribute mightily to social programs in my own community and culture through taxes, etc., and we all fall right into tremendous double standards and slippery slopes.

I dont need a smart phone. I dont need the internet. I dont need to be a homeowner. I dont need electricity. I dont need running water. I dont need new clothes. I dont need a truck, or a scooter, or a bike, or transportation at all. But I have worked for all those things, and I believe I should and do have some agency over my earnings. Where is the line? Does my position allow me to demand from others who have more or better?
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