Brexit is all over the news, how does it affect us here in the US?

Discussion in 'Personal Finances & Building Wealth' started by joshmamabear, Jun 26, 2016.

  1. joshmamabear

    joshmamabear Member Of The Month Nov. 2011 Trader Group

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    Talks of the UK getting out of the European Union is all over the news, I wonder how it'll affect frugal and no so frugal folks ? We don't have a mortgage, all vehicles are paid for, no credit card debts, dwindling stockpile ( I know I'm an embarrassment to the community) :sad3::whistle67:and with an acrimonious US presidential elections in November, what's in store for us? Negative interest rates are already happening in Europe, are we next? Is it best to just keep our savings under the mattress/Folger's tub/Whitman's 40 oz box rather than pay fees for parking them in bank?

    Hopefully, most, if not all, have security nets to guard your hard earned assets. Those who are relying on their 401Ks for their retirement ought to be vigilant and ask their financial counselors on how to protect what they have, or whatever is left of it.
     
  2. Dengineer

    Dengineer Well-Known Member Trader Group

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    I don't know how the financial issues will eventually shake out, but I personally think that any move away from globalism is a good thing in the long term.

    However, I also believe that we're headed for another 2008 or even worse. Just when that will happen, no one really knows. On the other hand, one should never underestimate the ability of government entities and their cronies in the financial industry to forestall the inevitable by kicking the can on down the road a little further.
     
  3. joshmamabear

    joshmamabear Member Of The Month Nov. 2011 Trader Group

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    I was reading the local paper yesterday and one thing that caught my eye was SS pension will run dry by 2034. I'm not even sure if DH and I will still be alive by then but it is equally disturbing that Medicare allegedly will be gone earlier than that :sad3: As much as I would like to brush it off as baseless, I know I'm in denial because I can see how this country is run by bozos who are busy lining their pockets.

    Right now, we're making plans how to protect ourselves from negative interest rates. DH and I were talking about spending on "memories" before fiat money goes to pot. At least memories with our family is something no one can "steal" from us. Meanwhile, life goes on...
     

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