I am about to have my 62nd birthday. I have decided not to let my Social Security account accumulate and have applied for my retirement benefits early.

I will be receiving approx: $800.00 per month which I do not need to live on. Rather than buy an new car or other such luxury, I would like to put that money to work, for myself in later years or for my wife and kids should the grim reaper come a'callin.

Buying an insurance policy at my age is very expensive, besides, I won't get anything out of it EVER.

So I ask for the collective wisdom of the group: What would you do with the money if you were in my place?

BTW: I am in pretty good health for a cigarette smoking scotch drinker.

Bill in South Carolina

-- Bill in South Carolina (notaclue@webtv.net), February 01, 2000

Answers

Buy durable goods and supplies, clothing, tools, etc. These items will have value no matter what the economy does and it will keep you well-prepped.

-- (Steve887@cirstin.org), February 01, 2000.

Bill,

While I did not write to you to give you and advice, I am writing to you to tell you to have a wonderful 62nd. May you have many many more years with your loved ones.

Sheeple

-- (Sheeple@Greener.Pastures), February 01, 2000.

Bill,
All you young fellows always worrying about the future!

But seriously, I have lived long and have some insight to the passage of humanity across time. We are in a period of unraveling preceding a time of crisis. As crises have their own cycles and we are on a building cycle, I expect this one to be a beaut.

So now the thought might be to try to preserve wealth over time, and trying circumstance.

I would buy gold with the SS money.It will be up, down, and all around, but here is the true tail of the tale.

I carry around with me, two coins. Both over 3000 years old. Both minted the same year. One is corroded and has no numismatic value. The other had value from the minute I dug it up. Yep, made of gold. It preserved some poor bastards' wealth over 3000 years to end up in my pocket.

If I had money to preserve, I would chose to hold (got that? get it in your hand), gold. Raw bullion. Numismatic value are like any other, they depend on a complex understanding of the issues where a gold round or bar is just that, gold.

-- pliney the younger (pliney@puget.sound.hinterland), February 01, 2000.

Hard to knock setting aside some hard metals. Cant lose that way.

Twer it I, I might consider buying some property with serious hunting and recreation potential.

Also, fine firearms bought at good prices never go down in value. Take the liberals suggestion and buy 'one a month' ! LOL

-- art welling (art@thatplace.com), February 01, 2000.

I am 23 my dad is 73, he quotes the famous american humorist Will Rodgers: "invest in land, they ain't making any more of it."

-- jeremiah (braponspdetroit@hotmail.com), February 01, 2000.

Here is a link with helpful information:

LA Times Investing 101

Investin g101

-- Dee (T1Colt556@aol.com), February 01, 2000.

1. Pay off all debts. 2. Pay off mortgage. 3. Buy rural land. (Have a house there if you don't already live in the country) 4. Get your home in good repair (need a new roof?) 5. Silver. (Last depression, they took the gold.) 6. Take a dream trip for memories to look back on if times get ugly.

-- jeile (tjfarrar@bellsouth.net), February 01, 2000.

Bill

What jeremiah and art said. PROPERTY!!!!!

It ALWAYS goes up in the right places.........

A couple years ago I turned down a sweet offer for a couple of lots by the Intracoastal Waterway here. Each lot sold for 45,000 back then. They both just recently sold again for 140,000 each.

Ever seen a grown man cry????

Happy Birthday!

Deano

-- Deano (deano@luvthebeach.com), February 01, 2000.

You could invest in high grade tax-free municipal bond funds and receive some regular income or reinvest. Of course, it's important to have a will and health directive (living will).

Peace and blessings to you.

-- Leslie (***@***.net), February 01, 2000.

There may also be some useful suggestions sprinkled among the Banking/Financ e threads, such as stock market doomers wanted for investing advice.

-- David L (bumpkin@dnet.net), February 01, 2000.

Bill, I would look into purchasing the shares of a raw materials and/or gold fund. American Century runs a gold fund and (this should say an awful lot to anyone with knowledge of the markets and market history) Jimmy Rogers started a raw materials fund last year. I'd just put the money away and let it work. Unlike the depression era that was ushered in with the stock market crash of 1929, there is no system of fixed exchange rates. That means that we are unlikely to see the value of currencies turn firm and remain that way for years. Instead, because the value of the world's currencies aren't tied to anything but public confidence, the years to come are likely to bring about a continued and obvious loss of currency value that, at the same time, increases the value of tangible goods. Since you can't possibly buy up all of the real, tangible products that are reflected in a fund, I would suggest investing in a raw materials fund and put some of the money into gold. Inflation has a greater chance of eroding the global economic miracle in the years to come, than it did when interest rates rocketed to all-time highs in late-1979 and early- 1980, because of the advent of things like the internet that encourage personal freedom and downplay (that's an understatement) the role of governments. Anyway, my vote is for an inflationary future and in order to secure your well-being, hedging in inflation instruments (absolutely NOT bonds) would, IMHO, be your best bet.

-- (cashtradr@aol.com), February 01, 2000.

Buy Scotch and cigarettes!

-- Johnny (jljtm@bellsouth.net), February 01, 2000.

Buy a motorhome and see the United States. Buy a bumper sticker for the motorhome that says "I am spending my children's inheritance."

-- bardou (bardou@ballonneyy.xcom), February 01, 2000.

---buy decent survival property--property with good firewood, good garden space and WATER. Water is the liquid gold of this century. Over 1/2 of all water supplies in this country are polluted extensively now. build a low maintenance, complete alternate energy home, and move there. Get it paid off, for yourself in your remaining life, and for your progeny. Hold enough metal and durable goods to take you through severe economic and social disruptions that might go on for years. the numbers aren't there, and will not be there no matter what the bigshots do to make that soc sec check worth much in the near future, it hasnb't computed demographically for a long time now, and we are entering the time frame of that system being almost worthless. In other words, take the loot now while it's worth something, and immediately turn it into something that has lasting value, not fantasy future promises of this or that. Get real "stuff".

When looking/purchasing, pay attention to the fact that china/russia/ north korea/some other countries are in a massive axis of modernizing and expanding their war making potential. Think about that one REAL serious when deciding where to go. It's coming, just a matter of "when" not "if". That's my advice. Those countries are long range planners, and they want to win. And they are building up by slowly blackmailing the west, and taking advantage of greedy, short sighted politicians and CEO's. They threaten if we don't give money, that's the bottom line, then they get the money, use it to build up the war machine, neglect their own citizens, and reinforce their opinion that the west is both beatable and stupid and naieve. Cover your own personal a$$ets, cuz big bro and big biz in this country sure ain't gonna do it.

-- zog (zzoggy@yahoo.com), February 01, 2000.

Bill, for one, I agree with Jeile, but there is also this: Several years ago, I landed in the hospital quite suddenly with extreme pain and some extreme symptoms. Suffice it to say, I thought for sure that I was dying. (I have never before or since thought that, nor am I a hypochondriac). As I lay in the ER, I had plenty of time to think of the quality of my life. I felt a strange calm sense of detachment mixed with regret over a few things. I had never travelled, I was not married to someone who really really love me, and I didn't have any kids. I felt bad about those things, and that the pursuit of all the material things of the world had taken precedence in my life. Fortunately the surgeons did operate on me and save my life.

When I woke up the next morning, alive, I felt that I had a 2nd chance to make all my dreams come true. After I got out of the hospital, as soon as I could drive I rented a u-haul truck and moved out of my place, with all my friends carrying the boxes that I wasn't supposed to lift for another month or so. I filed for divorce. I took a chance, and travelled outside of the US to see what else is out there, and just enjoyed being myself and being alive. I have remarried someone who loves me, and though we have no kids, I feel a whole lot better about dying, now that I did some of those lifelong desires.

I say, if you are fairly well prepped, and out of debt, and have a little gold, then plan that trip you always wanted to take and take it! You just never know if you might wind up in the ER, never to come out.

Grab some joy and good things in life, and seize the luscious flavors of being alive.

Good Luck.

-- (formerly@nowhere.zzz), February 01, 2000.

Great story, 'formerly'. Thanks for sharing it! Everyone should pay attention! If you need a tour to go on, I have a tour company! :-) Earth Mysteries & Sacred Site Tours

Promotion done.

-- Sheri (wncy2k@nccn.net), February 01, 2000.

Bill, my wisdom is real hard-earned wisdom. I just spent most of the past month in an ICU with my mother, first trying to get her well and then helping her with her dying. She was a smoker for years, and even though she'd quit 20 years ago her lungs just couldn't support her.Ever spend weeks with someone you love who can't say any fond last words to you because of the tube stuck down in her throat? Ever have any idea how helpless your kids would feel watching you gurgle in panic as your lungs fill up with gunk that the nurse has to suction out? Mom won't get to see her eldest grandchild's sixth grade graduation ceremony, or any other significant milestone in the lives of all of us she leaves behind.

I'd suggest a smoking cessation program for part of that money. Leaving a tidy nest egg won't mean diddlysquat for your family if they'd rather have you than all the money in the world.

-- Firemouse (firemouse@fcmail.com), February 01, 2000.

Again I speak for the Badlands Consortium. Continue the Scotch and tobacco and give prayerful thanks for the great privilege of living in interesting times. The economic mavens will advise on economics. We say give praise! with WWII, Korea, Grenada, the Gulf, Bosnia, Kosovo and the current Y2K paradigm on our CV, are we not blessed to post?

-- mike in houston (mmorris67@hotmail.com), February 01, 2000.

Bill...

How about a SERIOUS R.V., Yea...the dream kind.

A few beautiful acres of land that you or your family could sustain themselves on. Think streams for fishing, and earth that is prime for vegetation and food.

OK...this is MY dream! I confess =o)

-- cin (cinlooo@aol.com), February 01, 2000.

Bill,

Best wishes on your 62nd birthday!

Have you started a journal of your stories, and all the pearls of wisdom, for the great-great-great grandbabies?

What do you think of some of the ideas heard here so far?

-- Hokie (Hokie_@hotmail.com), February 01, 2000.

I vote for a large enough vacation property with a lake/creek/river so all your children can come for reunions and have a place to go if they can't afford to buy. And put it into a family trust so you never have to pay taxes on it when you die - it just passes on to the youngest living grandchild.

And can we all come and visit there???

-- Laurane (familyties@rttinc.com), February 01, 2000.

I knew I could count on you guys. NOT ONE wise ass response to my post. I thank you for the birthday greetings and for the many excellent ideas put forth. I even appreciate the warning about my smoking. When I was a little boy and had a nickle for candy it seemed to me that I could buy all the candy in the store. When I got there however, my nickle didn't seem so big anymore. The same goes for my $800.00 SS check.

Living in the country, alone with my wife, after living in the biggest cities in the country seems a little beyond my abilities and interests. Even the most beautiful sunsets and landscapes become ordinary when experienced daily.

I don't know who said it, but I have always remembered it, " Familiarity is the enemy of the beautiful and the friend of the ugly." I guess that means that we all get used to anything.

I have travelled extensively through Mexico, Central America and South America. Again, very beautiful for the most part and comfortable for me because I am fluent in Spanish, but it just ain't home.

The idea of scotch and tobacco ain't too bad, but good scotch single malt is about $35.00 a fifth and only I get to enjoy it.

I guess the best thing about the little extra money will mean that I will be able to maintain my independance a little bit longer. Maybe a part time nurse when I need her. One with long legs and a large chest.

Again, I thank you all for your good wishes and suggestions

Bill in South Carolina

-- Bill in South Carolina (notaclue@webtv.net), February 01, 2000.

Bill, thanks for taking my grim advice with such equanimity. I wanted to assure you that part of the reason for offering it was that I want you to live a long, happy, and healthy life!

-- Firemouse (firemouse@fcmail.com), February 02, 2000.