what to do with extra cash

[knibloe]

Besides give it to someone on the forum, or invest more in PM, what tangible would you "invest in." Lets say you had $5000 what would you buy that:

1. Will increase in value over time.
2. Won't degrade, expire,...
3. Fairly liquid.

I have a 30 gallon drum of copper wire. Was going to take it to the scrap yard, but then I just have more FRN which don't earn anything and I believe are going to devalue in the near future, Then I thought, what is the harm in stripping it down and holding it? It would fit my three criteria. Space is not an issue for me. Also, the fact that it would be very liquid at a scrap yard also makes it ok. I don't want to stock up on TP as an example becasue it isn't very liquid unless there is a shortage.

[Recyclersteve]

Interesting topic. Here are some random thoughts...

First, dig through past postings on this site on the general topic of preparedness. There is lots of reading material already created there.

I like the idea of keeping a drum of copper wire around. I like bare bright copper and think having a bit of a stockpile on hand is a good idea. But you always have these words to consider: “One man’s trash is another man’s treasure.” Even in the same household, if you have a hoarder/prepper married to a clean freak/minimalist, some type of working agreement will need to be negotiated to avoid conflict. A solution might be to have a shed or bedroom for storage that is allowed to remain messy without jeopardizing the relationship.

Think about potential thieves as well. They tend to steal things like cash, gold coins and things of value that are easily portable.

I had a break in at my storage locker in 2019. Lots of silver and gold was taken- only about 7% or so was recovered by police. The thief has been convicted and is in prison til 2029. I also had a bunch of paint cans full of .999 Canadian nickels. Almost none of them were taken and they were in the same area as the gold/silver. So I think that keeping a supply of .999 Canadian nickels might be good to consider for long-term as well.

I’m gonna ask a question here as well- does anyone think it is worthwhile storing a quantity of pewter? I know certain items like candle holders are often made of it, but almost never run into anyone buying it. Could that represent an opportunity?

It will be interesting to see what other items people suggest.

[coppernickel]

COVID has taught us real estate, rental properties, and businesses are all subject to the whims of multiple government layers. So those are out.

Take away those items that someone can take a way either by legal or illegal activity, then all you have left is yourself. Putting the money into making you more the person you want to be is worth $5,000. More school, my mind goes to trade school or a self defense school.

[IdahoCopper]

You can buy used wheel weights from tire shops and melt them down. When I was a teen, a buddy and I did that to fill a mold to make scuba weights, which we then sold to the local dive shop.

Today, I'd say molds for small lead ingots, and for bullets to fit black powder guns, are a better choice.

[Tourney64]

With Congress taking the USD down the drain with their multi trillion dollar spending bills, you need to put it in tangible assets. I like the suggestions of eduction and skills.I would suggest tools, security systems, and Spanish language training. You need to do this before the USD is just a nice piece of paper.

[JadeDragon]

COVID has taught me that income keeps coming on real estate regardless. The exception is where the government suspended evictions, but for my storage property it is all good. I sit on metals but mainly it is real estate and quality stocks. Bought cruiselines and a seniors care business after both were hammered hard a year ago. Happy happy happy with the results. Note I don’t like airlines as they are a notoriously tough business.

[MUTiger]

I’m gonna ask a question here as well- does anyone think it is worthwhile storing a quantity of pewter? I know certain items like candle holders are often made of it, but almost never run into anyone buying it. Could that represent an opportunity?

You can buy used wheel weights from tire shops and melt them down. When I was a teen, a buddy and I did that to fill a mold to make scuba weights, which we then sold to the local dive shop.

Today, I'd say molds for small lead ingots, and for bullets to fit black powder guns, are a better choice.

I do both of these things but generally not with extra cash. When walking or exercising I generally keep my eyes peeled for scrap metal and wheel weights on the side of the road like CrazyTom. About 10 years ago I found a small electric melting pot at a garage sale and I gave the guy $6. I bought some Lee ingot molds from http://www.midwayusa.com which is about 5 miles from my house and have a bunch of lead ingots in ammo cans. The pewter (tin) is needed to harden the lead for casting bullets and you can pick that stuff up at garage sales very cheap but it is worth $8- $10 per pound. It also melts at a temperature below that of lead so the melting pot I have is effective for both metals. I find candlesticks, bowls, trays and Christmas ornaments made of pewter for less that 25% of the melt value. I also buy any cheap yellow brass items but they are generally worth less that $2 per pound at the scrap yard so they have to be really cheap to purchase. As Recyclersteve says, you need to have a place to store the stuff that does not make the significant other too mad.

MUTiger

[AGgressive Metal]

Large mining companies that produce multiple metals (ie, not dependent on just one metal doing well) will probably do well in coming decade just like oil majors did well in past inflations. Pick carefully and don't go all in at once.

[Market Harmony]

Spend it. YOLO

Memories are tangible to your soul

[Recyclersteve]

I’m gonna add something that doesn’t technically fit the bill, but...

I have one of those Zimbabwe hyperinflation notes. I know they are worth more crisp, but I keep one folded up in my wallet for anytime when I’m talking to someone about inflation. The biggest denomination is 100 trillion dollars, which is a staggering sum of money! But they sell for over $100 each on eBay, which isn’t exactly cheap.

I bet you can buy an amount such as $10 million for a LOT LESS. It makes a really great conversation piece!

[knibloe]

Spend it. YOLO

Memories are tangible to your soul

You are correct. At best you only live once. I on the other hand tend to be over cautious and too hard working. Trying to use my 5 weeks vacation this year for the first time ever. Suppose I ought to go somewhere and do something as opposed ot stay home and work on my farm.

Ill keep you posted if I do actually do something.

[Treetop]

Guess Im late to the party but what we have been doing is upgrading things for a little bonus to our living standard before inflation gets to bad. So we got new quality pots, dishes, appliances, even a couch. Towels for the bathroom etc. Generally we used those types of things until they are on their last legs, but this time round nothing really needed replaced besides the fridge. About to get some better set up to grow more of our greens and such in our windows, so that one will save a bit of money (eventually) plus give some better food then local stores even sell. In addition to having more green things which is calming. I have to say I was majorly on the fence before we started doing that and the things might not sound like much but its nice to have a bit better food quality (from better tools to cook with, not talking the growing of it here) and the other little things. Think I will add a bit more flavor to my food storage items as well here soon also. Maybe some more meats and oils and spices and such.

[Cu Penny Hoarder]

AMMO, buy the case. Readily available again. Buy all common calibers NOW.

[68Camaro]

AMMO, buy the case. Readily available again. Buy all common calibers NOW.

Ought to still be on anyone's short list, even if they already think they are reasonably well set. If nothing else, if you haven't shot much during the ammo shortage, your prior skills have degraded and you need to spend some time with your primary firearms again, and then you will need to replace what you expended when refreshing muscle memory in fresh practice sessions.

But... prices are dipping again, so if you are a little bit patient and keep on top of it, you might find some better prices in coming weeks. Some of the more common stuff in bulk is down this week from last, and availability is increasing. That said, there is a limit to it - it will not likely ever approach prices of the past, with material supply issues and transportation issues helping to keep pricing up, along with basic inflation of everything including labor. So don't wait forever.

I did buy a partial case of TMJ for indoor range practice last week and prices are down 5% this morning (and I haven't even gotten that order). When it looks like we've hit a bottom I may order more.

[knibloe]

AMMO, buy the case. Readily available again. Buy all common calibers NOW.

[Recyclersteve]

Lots of people have backup batteries, backup generators, etc.

One thing that some forget about is having spare lightbulbs on hand. You can store them for many years and they make a nice barter item. I have literally found dozens of them when I’ve been out scrapping. You’d be amazed at how many people dispose of chandeliers and ceiling fans without removing the bulbs!

I literally have boxes of ones I’ve found in storage.