Comments on: A Survivalist Approach to an Economic Crisis http://toughmoneylove.com/2008/11/05/a-survivalist-approach-to-an-economic-crisis/ The Hard Truth about Money and Personal Finance Fri, 19 Mar 2010 02:03:20 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Sarah http://toughmoneylove.com/2008/11/05/a-survivalist-approach-to-an-economic-crisis/comment-page-1/#comment-2653 Sarah Fri, 20 Feb 2009 01:35:16 +0000 http://toughmoneylove.com/?p=153#comment-2653 What do you do if you rent and can't afford or want to get a loan for a home? How do you prepare besides having food and supplies and a free and clear car? What do you do if you rent and can’t afford or want to get a loan for a home? How do you prepare besides having food and supplies and a free and clear car?

]]> By: Mr. ToughMoneyLove http://toughmoneylove.com/2008/11/05/a-survivalist-approach-to-an-economic-crisis/comment-page-1/#comment-2023 Mr. ToughMoneyLove Tue, 06 Jan 2009 16:52:31 +0000 http://toughmoneylove.com/?p=153#comment-2023 Connie: I think the key is to have assets that actually minimize the income you need so that you don't pay much in taxes. As for property taxes, well not much we can do about those. You will need some income for that. Connie: I think the key is to have assets that actually minimize the income you need so that you don’t pay much in taxes. As for property taxes, well not much we can do about those. You will need some income for that.

]]> By: ConnieBrz http://toughmoneylove.com/2008/11/05/a-survivalist-approach-to-an-economic-crisis/comment-page-1/#comment-2021 ConnieBrz Tue, 06 Jan 2009 16:25:17 +0000 http://toughmoneylove.com/?p=153#comment-2021 Love the article :) I understand the concept of having a mortgage-free farm (or home) in a survivalist type scenerio but what about taxes? If things melt down to that point, forget the mortgage payment, who's going to be able to pay those sky-high taxes? Folks could still lose their home, shelter and food production. Guess I keep coming back to the necessity of having income producing assets to pay the bills... so what could be considered income producing assets in a survivalist economy situation? Maybe some mortgage-free rent houses in starter home neighborhoods? Love the article :)

I understand the concept of having a mortgage-free farm (or home) in a survivalist type scenerio but what about taxes? If things melt down to that point, forget the mortgage payment, who’s going to be able to pay those sky-high taxes? Folks could still lose their home, shelter and food production.

Guess I keep coming back to the necessity of having income producing assets to pay the bills… so what could be considered income producing assets in a survivalist economy situation?

Maybe some mortgage-free rent houses in starter home neighborhoods?

]]> By: David http://toughmoneylove.com/2008/11/05/a-survivalist-approach-to-an-economic-crisis/comment-page-1/#comment-1074 David Thu, 06 Nov 2008 00:06:16 +0000 http://toughmoneylove.com/?p=153#comment-1074 Don't worry, I can teach you ;-) Don’t worry, I can teach you ;-)

]]> By: Mr. ToughMoneyLove http://toughmoneylove.com/2008/11/05/a-survivalist-approach-to-an-economic-crisis/comment-page-1/#comment-1072 Mr. ToughMoneyLove Wed, 05 Nov 2008 18:01:43 +0000 http://toughmoneylove.com/?p=153#comment-1072 David - I like your goal but I hope you have farm skills. Unfortunately, I don't. David – I like your goal but I hope you have farm skills. Unfortunately, I don’t.

]]> By: David http://toughmoneylove.com/2008/11/05/a-survivalist-approach-to-an-economic-crisis/comment-page-1/#comment-1070 David Wed, 05 Nov 2008 17:53:11 +0000 http://toughmoneylove.com/?p=153#comment-1070 We have been thinking like that for a little while now. I do wish we had a farm now, but that's our ultimate goal for when we finally buy property - farm, acres, gardens, animals. We have been thinking like that for a little while now. I do wish we had a farm now, but that’s our ultimate goal for when we finally buy property – farm, acres, gardens, animals.

]]> By: MoneyGrubbingLawyer http://toughmoneylove.com/2008/11/05/a-survivalist-approach-to-an-economic-crisis/comment-page-1/#comment-1068 MoneyGrubbingLawyer Wed, 05 Nov 2008 17:47:53 +0000 http://toughmoneylove.com/?p=153#comment-1068 I don't think you're overreacting. I may not go out and buy a farm, but I think it's reasonable to prepare for the possibility of a major crisis, whether as a result of economic collapse or hardship, a natural disaster, or some other emergency. Owning the things you need outright and having access to the things you might need is just good planning. The reason I'm determined to pay off my mortgage ASAP isn't for the financial benefits, it's for the security that this affords. I don’t think you’re overreacting. I may not go out and buy a farm, but I think it’s reasonable to prepare for the possibility of a major crisis, whether as a result of economic collapse or hardship, a natural disaster, or some other emergency. Owning the things you need outright and having access to the things you might need is just good planning. The reason I’m determined to pay off my mortgage ASAP isn’t for the financial benefits, it’s for the security that this affords.

]]>