Hi Taylor. These days your situation is pretty typical. It used to be that at your age a guy could just go rent a place, gain independence from their parents, have some fun, meet someone, get married, then together buy a white picket fence place in the suburbs and get a kid or two to send to school and take to soccer on weekends. Now its more like losing your job, moving back to your parents, sometimes even with a family of your own. Even for people that can afford a place of their own the costs are sometimes too high, even worse when there’s kids, so grandma or grandpa have to put aside their retirement for a while and watch over the kids during the day because the money for daycare or nursery just isn’t there.
Hey there Ferfal,
My name is Taylor and I am a 24 year old male living on the outskirts of a major metropolitan US city (population ~ +1 million) in the south (no snow). First of all let me just say that I purchased your book “Surviving the Economic Collapse” a little over a year ago and I learned a great deal. I took your adivce and went and participated in a high quality defensive firearms course back in January and have continued my training ever since.
I am stuck on something but first let me fill you in on my background. I just turned 24 years old back in August and recently graduated Florida State University with a degree in finance (after studying finance for 5 years, I know for a fact S is about to HTF). I just started my first job working for my father and though I do not make much ($500/week after taxes), I am happy in my occupation. I have zero debt, no student loans, very little (>$500) credit card debt, and a nice little savings that I store in physical silver. I have accumulated 4-5 months worth of food for my entire family as well as a great water filter (Katadyn Combi) good for 10,000 gallons of drinkable water. I have my rifle (AK47), handgun (Glock 26), and my shotgun (Remmington 870) and am adequately proficient with all three weapons. I have a minimum of 1000 rounds stocked for each gun plus other types of ammo that might be valuable. I have also taken measures to be prepared for turmoil by having a lot of extra necessities stored in my home.
Now here is my dilema. My current living situation is less than ideal. I am currently living with my parent’s in their suburban house. It is about 30 miles away from downtown in a pretty densely populated upper-middle class suburb. Once SHTF, these spoiled, unprepared people are going to lose it and turn into animals for sure. The house isn’t fortified in any way, has very poor outdoor lighting, and is overall pretty undefensible. I am not able to make any of the necessary changes due to the fact that my parents still can’t fathom a world without complete safety everywhere you go and will not let me alter the house.
Now here is the idea that I am toying with.
PROS: I am thinking it might be a good idea to buy a house that is in a rural area and that I can make the adjustments to it that I see are necessary. If you go out about 10-15 miles further away from the city you get into a nicer area that is more rural and is a little more secluded. You have neighbors, but you have your privacy and have much more room for fences, gardens, and animals. Housing prices in my state have fallen like a rock and even though I know the price of homes are still going to fall, things are becoming somewhat affordable. If I did purchase a home like the one I described, I would put up a nice fence, have a good lighting system, start a decent sized garden, and also get a good breed puppy that can grow up and defend the household. This would definitely not be cheap but this is something that I long for. I want a simpler, more in touch with nature, way of life. Also during a period of devaluation and calamity, not only will the currency your debt is denominated in decrease (therefore lowering the debt you owe), but there will be mass defaults to a point where the banks simply cannot take everybody’s house from them. I am sure that when the devaluation took place in Argentina, the debtors got a huge break.
CONS: This idea would require me to not only require me to use all of my savings(selling my silver) as a down payment, but it would also put me in a large amount of debt. Now this debt would not be gigantic and my parents do have a good amount of physical gold and silver stored up, I just don’t like the idea of being in debt. Its very risky. I would also have to pay for repairs, homeowners insurance, and many other bills I don’t pay now. My job is also not 100% safe. My dad’s company has fallen on hard times and it is not beyond the realm of possibility that it could close and that I could lose my job.
What do you think Ferfal? I am torn between the two decisions and time is running out.
Thank you for your help,
I think you have several important decisions to make.
First of all, you have to decide if the family business you’re working on currency is capable of getting through the crisis or if you’re just trying to postpone the inevitable. Usually there is a way of making it work making some hard choices, reducing costs, improving marketing, getting more clients, etc. But if you feel that’s not the case, or if you feel your father is not willing to listen to you and include you more in the family business, then I’d say its time for you to get a better paying job and one in which you have a future.
About your house where you currently live. I’d talk it over again with your old folks as adults. Instead of talking about fortifying the place which may sound a bit extreme, talk about improving the security a bit given current events. It’s the choice of words that sometimes scares families away from taking some common sense security measures. Installing an alarm, better locks and maybe even getting a family dog will improve your security greatly. Its not that expensive and it doesn’t ruin the house’s esthetics.
Regarding getting your own place, I think it’s a good idea, especially if prices are down as I’ve seen in some places in USA, there’s some very nice opportunities out there. Again, USD 2000 wont leave you much room between mortgage and living, but while your living at your parents house you could do it, on the meantime decide between staying in the family business and seeing if you can make it work or looking somewhere else. I’d try hard to make the family business work, try getting your father to listen to you more and accept your advice and letting you take charge little by little.
Careful about going too rural. You got my book so you know what I think about being too far away from help, friends, family, resources, etc.
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