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I think most investments are speculative in nature, but that's probably another topic. Although if you can name one investment that can hold value in good times and bad please everyone know, I'll certainly be interested and be thankful. Just able to hold value is OK, doesn't have to be income producing (pay interest/dividends etc) or have capital growth.Why is this important? Maybe I didn't mention it at the start of the thread but this topic is about making sure we (the small community of us here) are going to be less harmed financially in crisis situations such as GFC or worse. We don't know when that may happen but it's good to prepare right?It's not about selling all financial assets and going all in with a backpack of gold bars and hiding in a bunker till the crisis is over. I'll be right here with everyone sharing information and learning from others as to how we can protect and preserve some of our wealth, rolling with the punches so to speak.About the decent safes, sorry but I'm not interested. Let me explain. There is an unforeseen scenario most people won't consider in our lucky country of Australia that needs to be taken into account. It is this: if the robbery happens while you are at home, the burglar could put a gun to your child's head and request that you open the safe. What would you do? I can have the most advanced combo locked, fingerprint/retina scanned, unbreakable safe in the world to store my valuables at home but I won't put cash or gold in it. I'll put the things that are likely to be destroyed in a fire or flood in it like photos and memorabilia as well as any family heirlooms that is precious to me but of almost no value to a thief or burglar.
I think most investments are speculative in nature, but that's probably another topic. Although if you can name one investment that can hold value in good times and bad please everyone know, I'll certainly be interested and be thankful. Just able to hold value is OK, doesn't have to be income producing (pay interest/dividends etc) or have capital growth.
Why is this important? Maybe I didn't mention it at the start of the thread but this topic is about making sure we (the small community of us here) are going to be less harmed financially in crisis situations such as GFC or worse. We don't know when that may happen but it's good to prepare right?
It's not about selling all financial assets and going all in with a backpack of gold bars and hiding in a bunker till the crisis is over. I'll be right here with everyone sharing information and learning from others as to how we can protect and preserve some of our wealth, rolling with the punches so to speak.
About the decent safes, sorry but I'm not interested. Let me explain. There is an unforeseen scenario most people won't consider in our lucky country of Australia that needs to be taken into account. It is this: if the robbery happens while you are at home, the burglar could put a gun to your child's head and request that you open the safe. What would you do? I can have the most advanced combo locked, fingerprint/retina scanned, unbreakable safe in the world to store my valuables at home but I won't put cash or gold in it. I'll put the things that are likely to be destroyed in a fire or flood in it like photos and memorabilia as well as any family heirlooms that is precious to me but of almost no value to a thief or burglar.
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