Obviously, supply and demand is reeking havoc on building materials and equipment such as John Deere, Stihl etc.

The government is printing money like a drunken democrat. Money that is totally unbacked by the exchange of labor... that process is absolutely equal to inflation.

I see inflation starting up everywhere near me...

Local eggs... building materials... I have even heard ammo is more expensive for some calibers...

Where do y'all thing we will be in 6-12 months?

I honestly have no idea.

Wait until reparations start.

Great question. Personally I am sitting on cash and I have no clue as to what to do with it. Expand business, markets, rentals? Need to get it working.

Better. I should start getting reparations by then

always up in the air. feast or famin in my line of work.

Really do not know. But around here we trade a lot barn needs taken down we all take it down nothing left but dirt. Next I have a new wood shed. Boys next door have a tree house/deer blind. So if I need meat I take a few jars of honey and some eggs I am having a roast for a few days. Really will not be much of a change.

We need to see what oil does. I’ve heard oil going for 120 a barrel by the end of next years first quarter.

I assume my wife will be working?

I should probably ask her.

Im on a fixt income



.....i know exactly what my ‘paycheck’ is going to be everytime

Impossible for a mere man to know. I hear you on the inflation.

We'll be just fine.

I know where I'll be.

I don't know where inflation, national deficit, the dollar and the market will be.

Assumed debt finally cleared in six months, then I gotta decide if I want to sell the house as is, or keep it, continue to bite the bullet, pay it off in a year and a half, and have the whole thing redone.

Goals are best when left undefined.

My wife is planning on retiring next year.

Can't wait.

Think water heater.

I still have restaurant customers closing up shop, and I expect that to continue until at least the elections. Just bumping along until then. If Trump loses, it’ll keep barely rocking along for the next 4 years while every government agency that was reigned in Under Trump unleashes their frustration on the American business world, making the pandemic shutdown look like a walk in the park.

The only inflation we’re seeing is building materials that are now somewhat aggravated by hurricane Laura. John Deere dealers, et. alia appears to be well stocked with the exception of standby generators.

The only other actual, real inflation noticed is the amount of Chicken Littles’ hyped opinions here at The Campfire.

No money worries or concerns.

This, too, shall pass.

I have been in savings mode for the past few months. Its a discipline like losing weight or working out, once you get into it and make it a priority it kind of takes on a life of its own.

It helps that I'm on lockdown with Covid-19 and vacations are canceled. But I'm also holding off on other big purchases. If things continue at the pace I'm on now for another 12-18 months, I'll have some flexibility to change living locations. I'm going to wait and see what the new normal is on working from home as I suspect no one is going to go back to the office.

if i can remain employed at my pharmacy job, I should be doing just fine and semi-retire at 60 (57.5 now).
In the pharmacy job market, that is not a surety, though.

If I cannot remain in my current job, I will still be ok living off my savings and doing fill in rph work along with my preaching gig.

Ask again in two months...

In six months, right here eating veggies from the garden out of the freezer and deer meat. In a year, same thing, but the veggies will be fresh and the deer meat frozen.

Depends on how long my wife can stand me.

I quit working the day obuma won.


My son works at Google. He says he can get you $500k/year if you have a PhD in comp sci mechanical learning.

Maybe I could learn that stuff.

is that something I can learn on the job?

The farms will continue to produce an income flow, assuming that there is a market for all of those bushels of beans and corn.

The taxes and fees for the resort condos are covered for 2020, but if the ski areas at Breckenridge and Copper Mountain don't open before Christmas and if people are reluctant to travel by air those expenses will have to start coming out of our reserves in 2021. I'm not drawing my management fees, so I can't buy or do the stuff that I normally would, and that kinda sucks.

I feel bad for people in the service industry in resort areas; the waiters/waitresses, the store clerks, the rafting and fishing guides, and the cleaning crews just to mention a few. We have continued to pay our cleaning contractor for work that isn't being done so that he can pay his crews, but if we have to dip into the reserves we're not going to continue to pay a contractor to do work that isn't being done.

My oldest daughter's seasonal employment at Mesa Verde National Parks was cancelled, so she has been living with us and that is not something that I want to continue to go on any longer than necessary.

I think you're right in that assessment

I don't know. Probably a little better off than I am now. I'm looking for another rental property that will provide a bit of a supplement to our monthly income and also provide my wife with a place to live once I exit the scene. She's not going to want to try to keep this place going by herself and I don't think moving back into our house in Lexington is a good idea. So I've got to find her a place here that she can downsize into when she retires.

Same as now.

Can we come and live with you?? 😂😂

+1 If Trump wins I will be better off. If Biden wins, then I expect a 20% decrease in my net worth.

Service industries peaked when people were forced to stay home initially. Honey-do lists were getting hammered out by the boat loads and contractors were very busy. As time goes on, things are beginning to slow, and my fear is if this crap doesn't get back to normal going into fall and winter that people will really start to roll back spending on home improvement, which is a large segment of the economy.

Times are uncertain.

Depends on whether the Republicans win the elections or if the DemocRATS steal them. My lifestyle, if you want to call it that, won't change either way; but my net worth will.

No worries here. Thankfully.

Low interests rates, lots of refi’s going on, lots of home building going on.

Toll Brothers has a considerable backlog of high end home building on their books as has been reflected in their stock price.

My son in law and his Dad are Custom Home Builders with a two year backlog.

Some folks out there are looking forwards and not backwards.

This

I’m parked in cash, that’s cost me 5% so far with the drop in the US dollar and I think there is another 5%-7% downside to go.

My investment ideas are gold and Tesla puts. I did bid on a bank owned fixer house, only one in the area so there are 20 people like me that will bid it to almost no profit.


Most real estate and stocks are overheated. 1929, 1999, 2007 were the last time PE hit these levels. I have plenty of cash to last a long time, but it may not be worth much in the near future.

My ideal piece of rental property is a brick 3/2 ranch with a one car attached garage, about 1350 sq ft. They can be had around here for about $180K but you need to be there when they get put on the market. They're gone in 2 or 3 days.

If I had one for sale around here right now I'd up the price $40K over what they're going for. They'll be $40K more in 18 months from now.

The market is crazy around here.

True.

And for much more than just short sighted financial issues.

If Biden wins I am retiring and moving to the Bush!

Whenever we visited, my dad liked to pack the car with folks and give us a town tour...once he and mom had completed their final arrangements he took us by the cemetery to show off their plots. Their spots were separated from the retention pond by the cemetery access road.......he bragged how he was able to finally give mom that waterfront property she always wanted.

He was always thinking ahead.

Sounds like you made a good decision to move to the country B.

Depends upon Covid I guess. Biz is back to 2/3 to 3/4 of what it was since we were allowed to reopen.

Have already dipped into savings

We are sellers of r/e currently, one to raise cash, two I’m expecting re to suffer here at home 🤷🏻‍♂️ Could be wrong, we’ll see.

I’m not so worried where we will be as to where our kids will be. I feel fairly confident we’ve positioned ourselves to live comfortably over the next 20-25 years. Was hoping to do well enough to leave our kids something at the end of our days. But my main objective is seeing that their mom is provided for. Hope our preparations & prayers have been sufficient to do so.

Fixed income here, dollars come in steady. What those dollars buy is the big question. Savings is good and home paid for, we will be ok!

Optimistic you are this morning.

Not much hope for some things if The Donald does lose though I'm afraid.

I guess. We're only about 25 miles out of Lexington. This area was pretty hot when we moved in. But COVID and communists are pushing people into the country around here right now. That's good to an extent. But it's making it difficult to find a decent little rental property to use as an investment. I'm looking at one today that's $170K. It would have been $130K 3 years ago.

Busted flat in Baton Rouge.....

Lumber prices are way up around here, with OSB nearly triple was it was several months ago. Despite that, our local construction industry continues forward. Low interest rates and a healthy backlog of work is certainly helping us. Most believe we will be alright down here in the coming months.

I'm in the same shoes as stxhunter. But I have 3 child support payments left,so that'll be almost a grand back in my pocket. That will help a lot when things slow up. Hope nothing unforeseeable happens in the meantime.

Depends on who gets in. I don't see much change for my family .

The good news is if the democrats do manage to steal the election, and conservatives are too bigga pussies to hang the traitors in the streets, that the democrats are also being hurt by this shutdown, so they'll immediately claim their shut down policies have worked and will reopen the economy. At which time it will TAKE OFF because people are READY to get back to business. Then they will claim the booming economy is the result of their brilliant policies. Their continued stacking of federal offices with communists, importing foreigners, free handouts and elction fraud will ensure 100 years of democrat rule.

Remember where you read this.

hell, I'll always get buy, more than one way to make money.

Will be an interesting year for us[wife & I].
Business is still sitting at or just above 50% pre covid.

Rentals at our vacation house have finally started picking back up with Sep being being our best month so far.
Luckily we sold both beach condos last Dec, carrying those through winter and then again through spring[shutdown] would've made life tight between HOA's and taxes.

We have some big decisions to be made.
With the Real Estate market where it is, now seems like the time to sell our little piece of heaven-72 acres w/custom home and move on.
We've been looking hard all spring/summer at properties in Tenn which would only keep us 2-3 hours from our aging parents and son and his family.

RV parks are booming.

An interesting topic for me.

I have been IT since 1980 (before we called it IT). I have done well salary-wise but was married to a woman that controlled the check book and spent it all (my fault for letting it happen) and for the last 12 years have been paying nearly 40% of that ex-wife (long sad story). She passed away last month so my take home income has increased significantly. In the meantime my work has slowed down. I have a reasonable suspicion that I am been set up to be laid off in favor of younger less well paid folks. I can't be certain that is happening and my employer says "don't worry about it. Your work will pick after the Covid hysteria has passed." My customers have put most of their 'project work' on hold until then.

So I have been paying off all my debt as fast as possible. My only splurges so far are 2 new pairs of jeans and I paid a guy to tile my backslash. Once my debt has paid off in 1 or 2 more months I will start buying gold or silver I think. If I keep my job I will fully fund the 401k. Maybe buy a small piece of land as a bug out destination. So at 64+ years old I am hoping I can debt free before they lay me off. If I get laid off I may be able to do the same work (Healthcare IT Project Management) as a contractor but who really knows.

I have always been terrible with money. Time to get smarter and make the most of the opportunity I have been given.

But then there is the election... could change everything.

In 6 months, I think the nation will be suffering economically from the financial consequences of what all occurred because of this Coronavirus. I think the financial consequences would be worse under Biden than under Trump. In 12 months, I think the same as at 6 months. I think between now and then, there will be opportunities to make money in the stock market, especially for long-term investors, as there was last March.

Right now I’m semi retired. Drawing a retirement check and just started getting full social security last month. By this time next year hope to have house completely paid off and ready to totally retire. But may keep working so I can afford to rent a house in AK for at least a month and have family on at least one last great vacation

Same place I'm at every spring after feeding all winter.....BROKE

I have job security and I make enough to get by with a little on the side. I'm gonna prepare for the worst and hope for the best. But I might not even be alive tomorrow, so i try to plan for the future while enjoying the present.

I think I’ll be fine and if things continue, the wife’s new practice is coming along at a steady pace. As long as people can stay employed and keep insurance, the wife’s private practice should continue to grow. Now if more people lose their jobs and insurance, we could be in for a long winter here. It’s interesting times we live in for sure.

Still retired

Restaurant business is picking up and its not even Thanksgiving yet. First quarter we were down 65%, second quarter down 15%, this quarter looks good. There was a 2 hour wait for a table Friday night and people were standing around ordering drinks waiting for a table. Seating capacity is only at 75% because of the China virus hoax. Thanks to all the dumocrat governor’s up north, tourist season is already wide open in south Florida.

Things are going well for me and mine. Spent the last year exactly scrimping and saving to get out of debt and build savings. Wrapping up a property purchase soon, the home and land where I plan to live and eventually die. There's plenty of room on the land to build other domiciles for my extended family if the fit truly hits the shan. I don't like what I see coming, but I am quite happy about where I am financially.

Gonna still be retired no matter who wins....just praying enough of our people go vote to keep Trump in office.
May God have mercy on us if they hold their nose and stay home.

Until death do us part.

We're doing okay on the farm/ranch game. Key is to pretend you are going broke and don't spend money unless you should.


Prices are down but my wife makes good money and we don't have kids. Very little debt and don't spend big money on 'recreational' items.


No new Tahoe and boat in the driveway. Don't go on trips or eat out. Easy to save that way.

Just try to buy stuff that helps makes me money. Fuuck depreciation on stupid chit.




My SIL and her two kids recently moved up here and it's been nice being able to help out and get them restarted on life.

I'd much rather spend money that way than get sucked into more random consumerism.

Lots of home buying going on, no doubt. And prices haven't flinched in any of the places I've sold in.

An NYC real estate attorney I used kept sending me this place. Guess I spent too long thinking and missed it!

https://www.realtor.com/realestatea...t_Flushing_NY_11365_M34891-27454#photo16

The consumerism of which you speak is what’s it’s all about to so many millions of people.

Everyone needs a preaching gig . Rock on .....




Bob

that's great news. Hope you make it

ouch

Give a farmer a Million Dollars. He’ll keep right on farming till he goes broke. 😜😬🤠

6 months?
House will be paid off.
Oldest will be hearing back from colleges and what it will cost.
I will be doing our taxes.

Dsmn, 800 grand for that in NY? Is it really that bad?

My wife and I are comfortable now but we live simple lives with few wants. We both have pensions and over the years we put money away in a retirement account, which we have yet to touch. In 18 months we will take our Social Security benefits at 66. I already have some nice shotguns and shoot skeet/trap 3 times a week. We could afford a bigger/newer house and luxury cars/SUVs but like what we have and where we live.

Broke just like now.

You know how to wind up with a million bucks farming? Start with two million.

Yep!

I paid $1M for an irrigated section of farm ground in 2002 that is currently rented for $70 per acre.

If I run short.........

I can sell primers/powder & 9 mill/45 ACP boolits

Who knows? I'm retired and draw a pension. Theres a rumor that our insurance will change in 2 years so who knows what that will bring? I also draw SS as does my Wife. I also contributed heavily to a company 401K plan. We're carry very little debt and have cash reserves. In other times we would feel successful and comfortable. But with the chaos what it is I would be afraid to predict the future.

Spend a $1 to make 75 cents.

Best to you and yours!

ya!

GWB

My job is in maintenance in a high rise multi tenant office building. I plan to retire in 10 years, and I sure as hell don’t plan to spend my last 10 years in this job. Hope to be working at a hospital very soon.

I owe about $3,000 on a car loan. Otherwise, I’m debt free and sitting on a pile of cash that I add to each month. Max out the Roth IRA each year, 10% in the 401k, rental property has good tenants.

I hope to be able to travel, eat out, and buy whatever I want (within reason) in retirement. If it all goes south, I will still have enough to live comfortably at home, load my stockpile of ammo components and afford gas money to go shooting.

As long as Beto doesn’t come for my AR15, I’ll be alright.

Sounds like you have things well sorted.

Once you get enough money to pay the bills, wealth is measured in grandkids.

I have 5. They are fun!!

Truer words were never spoken

You guys are blessed, our 3 kids don't seem to have any plans to give us any grandkids. At 62 I'm getting old fast, but I sure don't want them to rush on my account.

Step over a quarter to pick up a penny.

Inflation can upset that calculation. But as to the original question, I am very happy like things are and hope they stay the same. Did lose a few thousand in the market last few days, but oh well. At least I'm well ahead for the year. Bought some unloved stock when the panic was on this spring. I hate to think of the BIDEN panic that could set in come November