The roller coaster economy - Montana Owners Club

Wiarton William · 10-16-2008, 01:22 AM

I have been watching the news and the economic predictions more than ever lately...I have never had to be overly concerned about it before..I am certainly in a quandry about it now........I see it going up one day and down the next some say a deep recession is still to come others disagree, ...I was hoping to head south at the end of the month...I dont want to blindly drive myself into a financial nightmare..I dont know whether to stay home and wait this out or head south and hope it passes... What could a person expect to happen if the economy goes down the tubes?????

Emmel · 10-16-2008, 02:54 AM

Don, it's a sad thing going on right now, but making a decision like that can only be made by your own circumstances. I don't think anyone can correctly foretell what would happen if the economy were to fall completely.
For instances, what would you do at home if it did fail compared to if you were in the south. Would the ulcers be bigger in the south than at home?
I for one will not let that keep me from going south this winter. There are a lot worse places to be stranded than the southern USA!
At least it is warmer there and I won't freeze.

DarMar · 10-16-2008, 02:58 AM

Good question, and I am sure those thoughts have been on the minds of many, but I certainly don't have the answers. Like many we have tried not to let the increased cost of travel change our plans previously BUUUUUT there is a tiny voice in the back of our minds trying to now tell us something. If one takes a peak at their retirement portfolio now I am sure the answer kind of slaps one in the face. After all, it has been out of control spending and lifestyles that has caused many to be in dire straits before the events of the last couple of months or so. I find myself telling our children that tough times are here for many and coming for the rest of us so tighten your belts now before it's too late. Then I find myself needing to listen to those same words!!!

ole dude · 10-16-2008, 03:02 AM

I kinda agree with the other posters. We have been handed a bunch of lemons, now we just have to figure a good way to make lemonade.

richfaa · 10-16-2008, 03:50 AM

Everyone needs to examine their own financial condition. We have all been affected in different ways. I have always kept a eye of the financial markets and tried to learn as much as I could on how they function, even more now because we are looking at history in the making.If the economy should collapse it would make no difference where you were.In fact it may be better to be in a camper. It is highly unlikely that our economy will collapse any more than it already has. Our Government as well as others around the globe are taking the proper actions for recovery. It will get worse before it gets any better and it will take time.We have been in a slow spiral toward economic disaster for several years and it will take a lot of time before we can recover.

You must live the lifestyle your financial condition will allow and one needs to examine that closely. We are going on as usual. We leave for Florida Monday for the winter. Our budget and financial condition allows us to do that.(to leave that is) We will see what happens when we get there. We have talked to our recruiter at Disney and the job outlook is not good. We will stay as long as our budget allows. The concern about driving yourself into a financial nightmare is a valid one and should be upper most in any planning.

We have always lived within a budget and we have taken some negative hits on this forum for that. Now more than ever we should be paying attention to our finances and staying within our capabilities.

Wayne..If it is within you finanical capabilites do it. There is nothing we can do about a total economic collapse and we have no idea what to do if that happens.May as well ride it out in the S.W or Florida.

Mrs. CountryGuy · 10-16-2008, 04:26 AM

Might I humbly point out that our question comes from a Canadian?? Who cannot afford to get stuck in Florida or Texas or Arizona for over 5 to 6 months, after that he has other international issues to deal with.

Gas is coming down, part of our retirement savings is safe, the other part has not been in good numbers for several years, now, we just cry in our beer about that part, the retirement checks are still coming in, our plans are to go to the RGV, and relax, and try not to watch this crapola. Things could change before we leave, illness, death, total crash of the market, all funds frozen, retirement check stops. But, it will pretty much take one of those dramatic issues to keep us here, we are after all WINTER TEXANS, and proud of it.

Getting home??? If things crash, write home to the kids and say, send $$. A reversal of when they were in college!

If we all stop doing what we normally do, well, they say, that will make it worse, they count on us to spend some!

richfaa · 10-16-2008, 06:16 AM

Holy Moley..Oil is below 70.00 bbl and.....OPEC is not to be heard of..not a word..think about that..Tune in to Fox Business news and you can watch the market unwind..Dow still dropping. The finanical analyist doing there best to find something good in all this.While typing this the DOW went from -111 to positive 17.76 and now back to negative 12.58. Now +49.62 The numbers are winding up and down like a Tach..Truly a sight to behold. Not a pleasent sight...but amazing.

before someone says ..but OPEC is going to meet and cut production by 1M BBls...Sure they will.remember that only a few months ago our president went to OPEC and begged them to raise production by 500,000 bbls, which they did after saying that there was plenty of oil and the price was high because of our speculators greed. Demand has now dropped way more than that 1M bbls per day so any such cut will mean nothing.Also..oil is the ONLY product Many of the large OPEC countries have and we are or were , the larges consumer. They need to sell their only product so causing the price to go up in this ruined economy will not sell oil. OPEC will wait for the economy to bottom out then act..They have made plenty of money and are in no danger of going bankrupt. The know full well they have a product we are dependent on.

Wiarton William · 10-16-2008, 10:15 AM

our pension income is gauranteed and our investments are locked in and although not absolutely guaranteed there isnt much to worry about there...the house is ours and we only have a small debt load.......financially we are secure.....I can relax on those suggestions.....getting the kids to send US money..thats one to worry about..I suppose if it gets that bad there will be a few hundred Canucks in the same boat...we can always get together and be one big worry..

ols1932 · 10-16-2008, 10:41 AM

We're going to continue to do the same things we've been doing. Having been through many ups and downs during our many years of our lives, we're not going to let this latest dilemma keep us from enjoying what life we've got left. We may have to cut back on our vitamins a little; just keep taking the most essential ones. What are they? I don't know. Marge takes care of that. She's trying to keep me with her as long as she can.

Orv

Delaine and Lindy · 10-16-2008, 11:10 AM

Oil closed at $69.85, Donald Trump said a month ago Oil would go down between $60.00 to $70.00 he said the economy will cause this drop. He was right, now if Diesel would go down that fast.

As for the Winter plans, our plan was to leave on 30 Oct for Gulf Shores and on down to Florida on Jan 1st. But due to another illness in the family we are now not sure when we will depart. But Lord willing we will take the 5th wheel down for sure. We may return for a while and then go back down. We are flexible, and unless the whole economy goes down to nothing we will travel. We do live within a certain budget but we want wait for next year, just keep going but we want go under. Never ever put things off if at all possible keep going. We never know if we will get tomorrow. Delaine and me try to live everyday if its our first and last day. And we can't control what our Government does. GBY....

Waynem · 10-16-2008, 02:55 PM

Today is the first day of the rest of my life! Tomorrow will be the first day of the rest of my life!

If I can get there, I'll find some way to get back.

Go! Have fun! Enjoy! Live! Let tomorrow be the first day of the rest of your life!

You worked hard for it! You deserve it!

richfaa · 10-16-2008, 03:17 PM

We both draw a Federal Pension and that is, thus far , secure.We do live withing a budget, always have, it is a generous budget but a budget just the same.As long as we stay within that budget we do not change our lifestyle or travel. This financial collapse although devestating to our 401K has helped in other ways. We budgeted 5.00 per gallon for diesel for our Florida trip and today it is at 365.9. The campground rates on the way down have not changed from last year. I have been driving my butt off since August for the school and have a nice travel nest egg. We will survive and our Government will survive. Work at Disney..Does not look good but we will winter in Warm Florida one way or another.

mail2us · 10-17-2008, 07:23 AM

Don, I am basically an optimist but also careful. That being said,it appears you are secure and have done your homework on your particular economic situation.

As an optimist, and similar circumstances, I would opt to live even temporarily, in a warm climate as a retiree than a cold winter. Go for it Don. I really believe the US and global economics dilemma will improve. Let's revisit this optimism I have by about next April as you head back home from Florida. Dennis

Wiarton William · 10-17-2008, 09:30 AM

You talked me into it.....we are leaving soon...

itaves · 10-17-2008, 09:54 AM

We're just in the process of transitioning to full time rv'ers and recently put our house on the market. Talk about gloom and doom!! But regardless, as has been stated, we're not going to let this scary economy situation stop us from doing what we had dreamed of doing for several years now! Not one of us knows how much time we have left on this earth. We will not put off our plans and then later be in a situation where we must say...wish we would have!!

So, hopefully, someone will give us a reasonable offer on our house, which I anticipate will be much less than we hoped to get, and we can then hit the road and start enjoying the rest of our lives!!

Enjoy your winter!!

ols1932 · 10-17-2008, 11:37 AM

Quote:

quote:Originally posted by itaves

We're just in the process of transitioning to full time rv'ers and recently put our house on the market. Talk about gloom and doom!! But regardless, as has been stated, we're not going to let this scary economy situation stop us from doing what we had dreamed of doing for several years now! Not one of us knows how much time we have left on this earth. We will not put off our plans and then later be in a situation where we must say...wish we would have!!

So, hopefully, someone will give us a reasonable offer on our house, which I anticipate will be much less than we hoped to get, and we can then hit the road and start enjoying the rest of our lives!!

Enjoy your winter!!

Don't let the gloom and doom talkers keep you from your dream. You will always find negative talkers who seem to think they have knowledge of everything. As for us, we're not going to stop full timing until the Lord tells me we must.

Orv

richfaa · 10-17-2008, 02:45 PM

With all due respect to all posters. It is not wise to ignore everything that is going on on the economic front.Read, Learn, Understand, pay attention,Make decisions based on your capabilities to live within them. These are doom and gloom times.Unless we are locked in a dark room all day we know that. Understanding and planning will allow you to live your dream within your means. and..hate to burst anyones bubble...but....dreams do not always come true... Real world folks....

ols1932 · 10-17-2008, 05:44 PM

C'mon now. You have to believe what you believe. I've always had dreams. Some have come to fruition, some are still in the offing. Certainly we plan and sometimes we have to change plans. But the present circumstances will not prevent us from pursuing our dream. That works in the real world.

Orv

Delaine and Lindy · 10-18-2008, 03:40 AM

My wonderful wife tells me everyday, you have to think Positive. And if its suppose to happen it will. We both have dreams and things and places we want to go back to. We as Joe Six pack type people, and in my opinion the real people who are living in the real world have to keep going forward. It has now got to the point you will have to get up and do more for yourself and get our of this ME,ME, Now, Now, thinking. Take Responsibility for your decisions and don't ask someone else to bail you out. And start living within your means and stop thinking you have a right to someone's hard earned money. We have to VOTE and stop our country from turning into a Socialist system, it want work. Oh by the way we have already VOTED and yes we voted Legally. Life is Good. GBY.....

richfaa · 10-18-2008, 04:32 AM

We have also voted. Here in Ohio we have the "early vote" and since we will be in Florida on Election day we voted here..now. Most of us are thinking along the same lines. We are attempting to go on as usual as best we can but at the same time understanding and being involved in the social and economic conditions that exist and are real and doing this within our means so as not to add to a already disastrous situation.

I am reminded of something we learned many years ago in one of our courses about attitudes.." There is no such thing as a bad or negative attitude..all attitudes are correct for the conditions that cause them. In order to cause a change in attitude one must change the conditions that cause them."

We are in a "doom and gloom" condition..it is well documented..In order to change that condition we, as a society and a nation, must cause a change in the conditions that caused it.. Not admitting that it exist will do nothing toward effecting change.IMO we are on the right track..We have admitted the problem, identified the cause/causes and are taking steps to effect a solution. We had to do that before anything could happen.

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