RE:Zorg WisdomWow, do we ever think alike bovalena.
I cut both my costs and taxable income down to the bone. My current real estate holding is limited to my house in South Carolina which costs me exactly $125/wk for mortgage and property taxes combined.
I knocked down my annual income level by keeping everything in a 401k which will not be taxed until I'm forced to take it out in a couple years. Other than that, just Social Security which I can live on without digging into savings.
I am currently building a list of real estate possibilities that I can take advantage of if there is a deflation.
I jettisoned all of my stock holdings outside of gold exploration companies. If there's a crash I have a load of cash to load up at bargain prices.
When it comes to an inflationary period I will be out of cash and into hard assets that will appreciate with the inflation rate. I may borrow money at that point and pay it back in much cheaper dollars.
I bought some silver bullion when the price dropped below $15. Holding that to buy gasoline or bread if the currency becomes completely worthless.
So that's the positioning for this time and place. My plan is to find a good sized piece of land that can be used by other family members to build a compound in the southeast U. S. My sons are looking for a similar site for the northeast U. S. maybe New Hampshire or Maine. That will be the summer compound. We'll see how it all works out.
I can make a deal with the conservationists down here to sequester a large part of the land from future development. In return, property tax credits will apply. We'll do forest management on another portion of the property which will give us an emergency cash infusion by cutting the timber if needed. Much prefer to leave it natural of course. The remainder will be farmland, which we will lease to a local grower for very little in return for building and maintaining a food garden for the family. His kids can take what we don't use and build a little farm stand business for themselves.