mv1986
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November 17, 2023, 10:45:06 PM |
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This is a question that depends extremely on individual circumstances. There is no rule of thumb to that. I guess one quasi rule of thumb could be the higher the amount of spare cash you have, the more it makes sense to shift your cash wealth into assets that you either know very well and believe in, or have a track record that you can comprehend. I am not saying that history is a great indicator of future performance, but there are some assets or also foreign currencies that historically do better than others during inflation. But if you don't have spare cash at all, then the "survive" in OP's title probably makes literally sense because that is the first thing you have to do, use your cash to pay for any necessities and unavoidable bills.
Another good strategy at the time is to get rid of your debts as soon as you can, and this is because in almost all contracts banks have a clause that basically says that when hyperinflation strikes they can rise the interest rates in the same proportion, so a small debt can spiral out of control in a matter of months if you do not pay it in time, so in that case it makes sense to put all your effort into paying those debts and only then you can think about trying to protect whatever you may have left at the time. Oh this is so true, it usually applies to most credit cards and also to long-term debt, for instance when people buy a house the interest rate is only set at a fixed rate for a period of 10 years or something. After that people have to prepare for a totally different interest rate economy. I have seen that a couple of times in my area and that hits really hard. Now people were able to buy houses at very low interest rates, below 1%. But when they have to refinance their mortgages now, they would be around 3.5% - 4%. When you owe 200k, this can make a different of 500 EUR per month in extra debt. So yes a very good advice is to keep debt at the lowest level possible.
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G_Besar
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November 17, 2023, 10:48:58 PM |
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I don't think I will sell it because of the potential for being close to the road and easy access anywhere. What I'm thinking about is just wanting to develop a shop on that land, if for example in the next bull season I can get big profits from my favorite coin investment and the airdrop can be done. if big inflation comes it might be an obstacle to my development, sometimes inflation creates various news that makes the market red
Usually land that is close to the main road and has very easy access for everyone, the price will also be quite expensive when sold so not just anyone can afford it. Even if it was bought by an ordinary person, he must have a special purpose for it which he may have thought about for a long time, but if you still want to keep the land located on the side of the main road, it is also very good. Because nowadays it is not easy to find land that is close to the main road, especially if it can be used to open a particular shop because it has easy access to put goods in as long as you have enough capital for that.
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gunhell16
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November 18, 2023, 01:43:17 AM |
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Honestly speaking, in these times of crisis and we are here in the cryptocurrency business, if you know something about crypto trading, you can say if this is the best alternative to do. But you must know something about trading skills.
Because for sure you will get a profit here every day, I have tested it for 2 years if I am doing day trading in addition to the long-term trading that I am doing. It's not really easy to learn crypto trading in this industry; you just need to work hard.
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Patrol69
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November 18, 2023, 02:39:08 AM |
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Economic crisis or economic recession is a possibility but we understand in advance. Since economic recession may occur, we need to plan ahead for this matter. When an economic crisis occurs, the internal situation of a country creates a very bad situation, which makes it very difficult for the common man to survive at that time. Being forewarned about this, we should look for multiple jobs and invest as much of our money as possible. If we invest our extra money now instead of saving it, maybe that investment will serve us well during the economic crisis. I am not asking you to save because if you save, you must do it in your bank and if there is an economic crisis, the bank is not safe. Since we have the means of investment, we should invest so that we get good financial support during economic crisis.
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naira
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November 18, 2023, 07:35:12 AM |
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Honestly speaking, in these times of crisis and we are here in the cryptocurrency business, if you know something about crypto trading, you can say if this is the best alternative to do. But you must know something about trading skills.
Because for sure you will get a profit here every day, I have tested it for 2 years if I am doing day trading in addition to the long-term trading that I am doing. It's not really easy to learn crypto trading in this industry; you just need to work hard.
If you feel that you don't have a long-term option for day trading, you can choose it by investing. Moreover, during hyperinflation, even if we achieve trading profits, it will not have a big impact on income. Because the value of fiat is in an inflated condition. Long-term investment is always the right choice and is able to maintain value. You trade when you are not experiencing high inflation, so the impact remains the same and the results can be quite satisfying. It's a different story if you are looking for profits in the midst of inflation where the value continues to decline, the greater the risk of the value being maintained.
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lixer
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November 18, 2023, 04:40:12 PM |
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You have 2 options though. Go to another country where there's no hyperinflation, but this is really hard, or work but don't get paid by your native currency and accept other currencies.
Both of these options are not available for everyone. Leaving your country and going to another country is not possible for everyone, it's even challenging to shift from one city to another or from one house to another, leaving the country is a different ball game altogether. The biggest challenge in this can be the language barrier because you can't just learn everything and move there, you will face a lot of problems because of this, and even if that is dealt with, it can be challenging to find a job after relocation, unless you manage to land a job before moving there which isn't possible for everyone. And, when it comes to working and getting paid in a different currency or asset, that's not a choice everyone has because only people who work with international clients might be able to achieve that. Still, most people would work with local clients and companies and only pay in the local currency.
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super bako
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November 18, 2023, 04:59:49 PM |
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I don't think I will sell it because of the potential for being close to the road and easy access anywhere. What I'm thinking about is just wanting to develop a shop on that land, if for example in the next bull season I can get big profits from my favorite coin investment and the airdrop can be done. if big inflation comes it might be an obstacle to my development, sometimes inflation creates various news that makes the market red
Usually land that is close to the main road and has very easy access for everyone, the price will also be quite expensive when sold so not just anyone can afford it. Even if it was bought by an ordinary person, he must have a special purpose for it which he may have thought about for a long time, but if you still want to keep the land located on the side of the main road, it is also very good. Because nowadays it is not easy to find land that is close to the main road, especially if it can be used to open a particular shop because it has easy access to put goods in as long as you have enough capital for that. A land that is strategic and also has easy access will of course have a higher price than the price of land in areas far from urban access, because land that is strategically located and close to the main road will certainly be very attractive for business people who want to build their business so that they can easily accessed by anyone and allows their business to develop well. Material like this is one way to build good finances in terms of environment or access. I often listen to the talk of successful people, which makes me defend the land. For me, whether investing in land with easy access or not, can make agriculture anticipate major inflation that occurs if the land is far from settlements or cities. land makes agriculture more effective in dealing with inflation
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ichsan ardi
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November 18, 2023, 07:41:19 PM |
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How do you strategically navigate hyperinflation to safeguard your financial well-being?
Would you invest on crypto, stocks or household when the cash is not the king?
my strategy for maintaining my wealth to avoid hyper inflation I will allocate my assets to two types of assets, namely bitcoin and gold, especially bitcoin because these two assets in my opinion will avoid inflation, especially bitcoin because the only asset that has a story of value is bitcoin and Bitcoin is our money, our money and not our coins
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itorai
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November 19, 2023, 01:58:04 PM |
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How do you strategically navigate hyperinflation to safeguard your financial well-being?
If possible, I will invest some money in silver and gold, because the price of silver and gold will be stable. can also be invested in farmers. The price of gold and silver is not stable either and has its own volatility. Yes, the volatility of gold and silver is less than that of bitcoin, but it is still there. Therefore, investing in gold and silver should also be smart. Yes, it's true what you say, it's just that the risk is lower, and it's easy to resell. (If there is little gold/silver)😁 So I think it is much riskier to invest in all types of coins.
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MarjorieZimmermanGinger
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November 20, 2023, 03:14:59 AM |
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Both of these options are not available for everyone. Leaving your country and going to another country is not possible for everyone, it's even challenging to shift from one city to another or from one house to another, leaving the country is a different ball game altogether. The biggest challenge in this can be the language barrier because you can't just learn everything and move there, you will face a lot of problems because of this, and even if that is dealt with, it can be challenging to find a job after relocation, unless you manage to land a job before moving there which isn't possible for everyone.
And, when it comes to working and getting paid in a different currency or asset, that's not a choice everyone has because only people who work with international clients might be able to achieve that. Still, most people would work with local clients and companies and only pay in the local currency.
You are right because it is not a solution in the midst of economic difficulties, especially since hyperinflation can make it difficult for us to find permanent work. Moving to one country will add a much heavier burden because we will start from scratch to settle there. That solution is much worse than staying in your own country and not only because of language differences, differences in lifestyle and culture can also make it difficult for us to cope with a new place there. This step may not be achievable for most people and is also not a solution that can be chosen by the general public in the midst of hyperinflation. The solution may be to stay in your own country and try to find additional income by looking at the existing potential. Trying to buy the necessities needed and trying to save because hyperinflation will usually cause the price of goods to soar uncontrollably and the value of the currency to decrease at an unstable stage.
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Ben Barubal
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November 20, 2023, 05:16:35 AM |
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How do you strategically navigate hyperinflation to safeguard your financial well-being?
Would you invest on crypto, stocks or household when the cash is not the king?
my strategy for maintaining my wealth to avoid hyper inflation I will allocate my assets to two types of assets, namely bitcoin and gold, especially bitcoin because these two assets in my opinion will avoid inflation, especially bitcoin because the only asset that has a story of value is bitcoin and Bitcoin is our money, our money and not our coins So does that mean you are a rich person? It also means that you will not be affected by hyperinflation, is that right? Sorry, most people in this community are not at the same level of life as you are. Like me, you are not yet capable of buying even one bitcoin to hold until a bull run. So my alternative is the other cryptocurrency that has the potential to rise in the bull run or the upcoming bitcoin halving. Although gold is also a good alternative for such a situation,
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hafiztalha
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December 24, 2023, 04:46:33 PM |
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How do you strategically navigate hyperinflation to safeguard your financial well-being?
Would you invest on crypto, stocks or household when the cash is not the king?
I would invest in Bitcoin because Bitcoin is safe if we invest for long run. In my opinion, Bitcoin trading is not best opinion but holding of Bitcoin is best opinion. In future, Bitcoin will be use as currency and people will pay by Bitcoin. I see a people who invest in Bitcoin by selling their house and Bitcoin price went down and they suffer for a short duration and after Bitcoin went up and they became millionaire.Most millionaires are made by Bitcoin , people should invest in Bitcoin to get 500 percent profit . No investment give 500 percent profit except Bitcoin. It is unique and exceptional investment.
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WillyAp
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December 25, 2023, 01:53:36 PM |
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How do you strategically navigate hyperinflation to safeguard your financial well-being?
Keep your cool, try to get credits and change it into a stable coin or any other which promises to maintain the value.
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slapper
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December 26, 2023, 10:50:24 AM |
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Both of these options are not available for everyone. Leaving your country and going to another country is not possible for everyone, it's even challenging to shift from one city to another or from one house to another, leaving the country is a different ball game altogether. The biggest challenge in this can be the language barrier because you can't just learn everything and move there, you will face a lot of problems because of this, and even if that is dealt with, it can be challenging to find a job after relocation, unless you manage to land a job before moving there which isn't possible for everyone.
And, when it comes to working and getting paid in a different currency or asset, that's not a choice everyone has because only people who work with international clients might be able to achieve that. Still, most people would work with local clients and companies and only pay in the local currency.
You are right because it is not a solution in the midst of economic difficulties, especially since hyperinflation can make it difficult for us to find permanent work. Moving to one country will add a much heavier burden because we will start from scratch to settle there. That solution is much worse than staying in your own country and not only because of language differences, differences in lifestyle and culture can also make it difficult for us to cope with a new place there. This step may not be achievable for most people and is also not a solution that can be chosen by the general public in the midst of hyperinflation. The solution may be to stay in your own country and try to find additional income by looking at the existing potential. Trying to buy the necessities needed and trying to save because hyperinflation will usually cause the price of goods to soar uncontrollably and the value of the currency to decrease at an unstable stage. You are dead on about how terrible hyperinflation is; it's like a storm that destroys everything in its path. But let's not underestimate the power of adaptive financial strategies. Yes, emigration is risky and culturally shocking. But is remaining put usually safer? When currency values fall, so does purchasing power. It's about savings and income loss, not just rising prices. We need creative thinking. Have you explored income diversification? Remote work, digital platforms, freelancing. The world is more interconnected than ever. Why not leverage that? In hyperinflation, traditional saving is like holding water in a sieve. What about inflation-resistant assets? Consider gold, real estate, or cryptocurrencies. They have risks, but so does putting all your eggs in a fast weakening currency basket. We must deliberately position ourselves to withstand this storm, not just survive. Don't we need to think like financial warriors instead of survivors?
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tjtonmoy
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December 26, 2023, 11:44:49 AM |
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You cannot safeguard yourself from hyperinflation as it is much more severe than normal inflation. Your first priority should be survival. Thinking of investments in that kind of situation is never going to help. For example you are buying something that cost $8 and the next month it cost $10. That is inflation. But in hyperinflation things are not as simple as that. Imagine buying a piece of bread with a cart full of money. And the next month it will cost two carts full of money to buy that same one piece of bread. That is called hyperinflation. In this kind of situation all you can do is prepare something that you have like a land in which you can grow food in order to survive. Money will have no value if hyperinflation ever hits. All you can do is ensure survival of yourself.
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fredericktaylor
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December 26, 2023, 11:47:16 AM |
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We need to be prepared in advance to protect money so that it is not destroyed by inflation. We will buy some assets that tend to be more stable assets that are more familiar to the general public like gold, silver, diamonds, Bitcoin. Make sure to do a lot of research before investing after market swings. There's no magic bullet, but having a variety of assets can help soften the blow when hyperinflation hits. In my opinion the best option to protect your infinitely produced fiat money against inflation is Bitcoin
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dansus021
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December 26, 2023, 12:04:55 PM |
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How to survive hyperinflation? basically, you already said it all and that is invest in crypto, stocks, or households.
Basically to survive inflation is you need to invest in an instrument that over-performed from the current inflation so if the current inflation is 5% you need to invest to an instrument that has apy at least 7% and it could crypto stock or property.
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angrybirdy
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December 26, 2023, 01:14:24 PM |
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You cannot safeguard yourself from hyperinflation as it is much more severe than normal inflation. Your first priority should be survival. Thinking of investments in that kind of situation is never going to help. For example you are buying something that cost $8 and the next month it cost $10. That is inflation. But in hyperinflation things are not as simple as that. Imagine buying a piece of bread with a cart full of money. And the next month it will cost two carts full of money to buy that same one piece of bread. That is called hyperinflation. In this kind of situation all you can do is prepare something that you have like a land in which you can grow food in order to survive. Money will have no value if hyperinflation ever hits. All you can do is ensure survival of yourself.
It all make sense, our priority should be survival, so for now It is better to think well on the things that really helps us when hyperinflation hits, As you've said, we need to be always prepared as the worst part of hyperinflation is not about not being able to have cash because of the high cost of any item, the worst part is the hunger, which somehow related to your suggestion of preparing a land that will help people to grow food.
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tjtonmoy
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December 26, 2023, 01:57:46 PM |
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It all make sense, our priority should be survival, so for now It is better to think well on the things that really helps us when hyperinflation hits, As you've said, we need to be always prepared as the worst part of hyperinflation is not about not being able to have cash because of the high cost of any item, the worst part is the hunger, which somehow related to your suggestion of preparing a land that will help people to grow food.
Yeah, survival is based on food. Our first parity in life is food because it is the key element which is required for survival. Technology, household, transportation, etc, are all part of luxury in our life. But the main part should always be accessed to food. With a full belly you can go out and search for opportunities but if you are starving to death there's nothing much you can do about it despite having all the luxurious thing in the world. In times of hyperinflation people won't be focusing on those kinds of things because they are worthless to them at that time. Despite others being fundamental rights they are not as much important as food. Food is the only thing that keeps us alive and our main focus should be on that.
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cabron
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December 26, 2023, 02:38:55 PM |
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It all make sense, our priority should be survival, so for now It is better to think well on the things that really helps us when hyperinflation hits, As you've said, we need to be always prepared as the worst part of hyperinflation is not about not being able to have cash because of the high cost of any item, the worst part is the hunger, which somehow related to your suggestion of preparing a land that will help people to grow food.
Yeah, survival is based on food. Our first parity in life is food because it is the key element which is required for survival. Technology, household, transportation, etc, are all part of luxury in our life. But the main part should always be accessed to food. With a full belly you can go out and search for opportunities but if you are starving to death there's nothing much you can do about it despite having all the luxurious thing in the world. In times of hyperinflation people won't be focusing on those kinds of things because they are worthless to them at that time. Despite others being fundamental rights they are not as much important as food. Food is the only thing that keeps us alive and our main focus should be on that. You will need food and guns if you want to survive in an event like this. Out of hunger people will do terrible things like loot homes and steal the valuables you have like gold and food. Although this may sound very chaotic, it's going when the supply chain is broken and it's possible because of the pirates in the Red Sea. You just have to have a plan B and C whether it's coming or not. I guess it's not so bad to plant some potatoes of your own and keep stocking food like winter is coming. Maybe you can even help other people by selling your potatoes for a cheap price among your neighbors so you and your neighborhood will be united to protect each other.
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