The stock market really took a tumble yesterday. Over 300 points. It has been predicted for some tie that the market is too high and a correction is due. I suspect that more is in the works although the market will likely bounce back today with investors taking advantage of lower prices.
◊ ◊ ◊ ◊ ◊
Loyal reader Kevin left a comment related to making a decision on whether or not to cash in his 401k to fund his survival supplies. No doubt Kevin is not alone in contemplating a similar action.
Of course this is deeply personal and there is a lot that needs to be taken into consideration. I am not financial advisor however I will provide my opinion.
The short answer is “no” – don’t do it. I prep with a philosophy that something “may” happen – not that it will happen. Will the economy collapse? I don’t know – and neither does anyone else. We all have opinions. Will there will a nuclear war? Some are 100% positive that there will be. Regardless – that is their opinion as well. I prep just in case. I invest in my 401k and I am sure Kevin does as well for a very likely retirement for himself when he gets older.
I have also thought of discontinuing my monthly contribution in my 401k. I have come close to stopping it all together especially when I truly consider what might happen in the future. I keep coming back to what if nothing happens and that money is needed when I get older?
My own personal decision has been to continue to add to my 401k at work AND prep as I can afford it. Something else I have done which aides in my prepping is every 5 years I take a loan out from my 401k. Many financial advisers would frown on such and action but it is my money and the interest goes back to me. It is a loan from myself. Doing this has allowed me to purchase many supplies I otherwise would not have been able to.
So – that is my opinion and it will not work or fit for everyone. Contributing to 401k is one variation of preparing for the future – just not one most “Doomsday Preppers” are concerned about.
◊ ◊ ◊ ◊ ◊
Next giveaway starts the 26th of August. A Sunwayman C22C high performance flashlight is up for grabs. Details to be announced on the 26th.
◊ ◊ ◊ ◊ ◊
EMP and solar storms have been getting more publicity lately. I have seen references all over mainstream websites and also included in TV shows. Here is a good article with some explanations on solar flares.
◊ ◊ ◊ ◊ ◊
Hope everyone has a great weekend.
Like what you read?
Then you're gonna love my free PDF, 20 common survival items, 20 uncommon survival uses for each. That's 400 total uses for these innocent little items!
Just enter your primary e-mail below to get your link. This will also subscribe you to my newsletter so you stay up-to-date with everything: new articles, ebooks, products and more!