Thank you, enjoyed that. Going to follow more Vern Gowdie. Hadn't known about you till today. More time to listen now!
When receiving a copy of End Of Australia in 2015 I listened to what you said and converted nearly all my investment portfolio to cash and haven't regretted doing that. Thank you
I read The Road to Ruin and Zero Hour I am waiting for Aftermath I am so glad I read This Books 18 mth ago I sold my Investment property I was wondering if I made a mistake now I now I haven't Sold all my Shares i am in Cash now 6 mth ago managed to get some fiscal gold I am just waiting to be advised where to put my Cash
Dear Vern & Bernd, mate I am a bloody pauper/battler.
However, read your End Of Australia in 2015.
Implemented your principles, as advised, albeit on a much smaller scale.
Cut up my credit card at the kitchen table in 1987, never had one since!
Since 2015 Retired debt, purchased and paid for land and PM non electronic.
Still concerned about the future and the inevitable continuing down trend.
Very possible unemployment and so on.
However, we all knew it was coming and we are prepared to the best extent we can be.
Failure to plan is planning to fail!
Your eighteen month timeline is I believe the correct strategy.
People, should be implementing and holding off for at least this amount of time.
As you say, forget the Day to Day, market gyrations.
It's a Fools Paradise to keep participating in a market where.
The overall trend will be a continuing, downward spiral.
The Little Bloke
360,000 people have applied for early release of $10,000 of their superannuation. Sounds like another big share market sell down coming.
Hanging on to my gold and silver stocks. Everything else is for sale/sold. History will decide whether I was right or wrong. Going with my gut feeling and fingers crossed.
Read End of Australia 2015 and applied. Interested in thoughts when in cash if a bank(ADI) fails and implications of 20 billion limit per failed ADI and suggestion by some of potential for banks to 'Bail in". Also apparent absence of capital guarantees on some cash deposits in Super.
Really glad I took your advise and moved all my superannuation to 'cash only' so have not lost anything. Have to leave it there at present as I cannot access it until I reach 65 or retire early.
I agree that the stock market is heading down substantially. I wouldn't be holding cash with bail-in laws in play and an inadequate insurance scheme to cover a banking crisis in Australia. Cash will also lose considerable buying power as inflation kicks in with the printing presses now running into overdrive. Only options are gold/silver and if you're brave enough, cryptos.