Falling dollar, your savings engrossed, your stocks devalued — how do you prepare? Why do you stay strong? Will your life be doomed?
Falling dollar, your savings engrossed, your stocks devalued — how do you prepare? Why do you stay strong? Will your life be doomed?
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Yes
lol I’m not worried at all! I’ve been through this a few times now. I’ll be just fine. Probably richer after it’s all said and done.
I don’t worry about what I don’t control.
If you have a safety net: not much.
If you don’t: yes.
I think that the tariff uncertainty is going to be a draft on the economy for at least the next couple of years, but I think that screwing with people’s wealth is the one thing that Trump can do and run into real opposition from his advisors and the Republican party generally, so I don’t think we’ll see the big changes and negative affects that have been talked about over the last few weeks.
This is going to suck, there is a decent model for the US withdrawing from the world as a trading partner but it requires close ties with Mexico and Canada that we are certainly not doing now. The US has the size and geography to make it somewhat independently but it is certainly it is looking like America’s golden age is coming to an end.
I am more worried for my kids than for me.
Not really. Just don’t panic. But look, long term you are doomed anyway. No avoiding that. Make the most of what you have. You don’t know when your number is up.
I’ve lived thru the dotcom crash, 911, the house crash, Covid, and now whatever this will be called. I’m not scared, not because I shouldn’t be scared. It just feels normal.
Savings? Stocks? What are these things you speak of?
I’m too busy just trying to survive.
Well… paradoxically (living in Europe has its good things), even though Von der Leyen et al have trying to kill European industry and farming, if the EU is able to create a consistent economic policy, it could be a great opportunity for us if America actually declines under Trump.
I’m worried, but I don’t really think there’s anything I can do about it. I try to not spend much mental time on things I have 0 control over.
The new normal
Commodity stocks are a decent hedge against inflation. So things like lumber mills, mines, oil companies, etc.
Treasury bills are the classic safe haven when you expect a stock market fall. Right now you can lock in a guaranteed 4%, which isn’t bad.
This best protection against the stock market is not to think about it that much. If you’re whole life is scrimping and saving, exhausting yourself to build up the biggest nest egg you can, the movement of the markets can be terrifying.
If you’re too bust living an awesome life to check on your portfolio most days, you’re doing it right.
Yeah. The global economic system is getting torn up without any actual plans for a replacement. Everything is becoming less predictable and every one is going to get poorer. And more systems are getting destroyed every month than we could restore in a year.
I’ve never felt like that those in power lacked even an “B- in Economics 101” level of understanding before. They literally seem unaware there is a difference between planful policy and performing vibes.
My life was doomed ever since I was born. Nothing can stop me.
I’m concerned but not freaking out. I’m focusing on what I can control – doing quality work, tightening my belt to prepare for potentially challenging economic times, communicating with my wife to ensure we are aligned on how we may want to handle various scenarios, etc. I have a long way from retirement and have confidence in myself to adjust, as needed, to be in a position to retire how and when I want to.
I am more worried about the reason why the economy is failing. There are drugs I rely on to survive as well. These are stupid times we live in wrought in by stupid people.
I try not to worry about what I can’t control. but that is Easier said than done.
My wife and I have changed our spending habits in the past three months. not spending as much, Putting more money aside. We are going to postpone some project we had planned for the house and yard. I was going to get a new car. All these things are paused.
Luckily my wife has a job that is safe from economic downturn and I have a job that is more volatile, but I have a big network to start working again should I lose my job.
Also, because of my career volatility I keep about 1 year cash saved.
My thought process is that I can’t control it. If the dollar fails the I’ll have bigger concerns than my retirement account.
I can’t control it, so I don’t stress about it.
Yes. We all should be
I was getting close to buying a house in a MCOL area of the country, and now Im considering a LCOL area instead. So, yeah.
My job is high paying, but AI could make parts of what I do obsolete and it’s scary to lock into a huge mortgage.
I am not in control of the macro environment around me, but I am in control of my own micro environment. That means I can control my own personal finances, risk levels, and career to best build a shelter for whatever storm may be coming.
That means things like living below my means, limiting non-mortgage debt, budgeting, having a sizable emergency fund, and trying to make myself valuable for a reputable employer.
Hope for the best, plan for the worst.
Not in the least. If you spend your time improving yourself for the future then you can conquer whatever comes your way. Keep your hands on the wheel.
Always but also not my first time. Luckily I have savings now
I recently passed on a good paying job in a big city. I currently work a little job, a nice position, in a small town on the West Coast. Between my wage and SS I make it. And while the idea of bagging a nice wage in my old profession seemed appealing, especially at my age, the realities of the world economy and it’s volatility made securing that job too much of a risk right now. The job came with a year’s probation. I couldn’t stomach the idea of securing that job to only have it go south on me, either for some silly violation of company policy or for funding to dry up and disappear.
Where I live, if the world falls apart, I have folks here who can help me out. We know that we can help each other out. The idea of being a big city, new on the job, new in town, with no connections, with the world on the edge of really falling apart, seemed scary, silly and just something that a jaded old cat like me had no real right to do, other than to massage my ego and vanity. I found it hard to pass up on the money, but money comes and goes. I know that when you find yourself in turbulent waters, having someone around that can throw you a life ring is more valuable than traveling solo with that life ring hundreds of miles away. C
I graduated college in 2009 I’ve never known peace
I’m generally very worried but I’m not really in a position to do anything to personally prepare.
I mean really I just would not plan any extravagant purchases anytime soon, especially if you’re getting it on credit.
I graduated HS 2009. I would say that was worse than anything to date. Hard to predict the future
No because I can’t control it.
No.
I’m a red seal electrician in Canada, it’s a ticket to essentially go anywhere in the country with ease, the wife works for the police. My business is in many different markets and it’s insanely busy.
I lived in ‘08/09 and survived, and the other recessions.. Covid was scary but I worked my ass off.
Anyway, every day is a new journey.
Yes, very hesitant. Def don’t think doomed.
I spent the last year in bed wanting to die every day. And now I’m living a mostly normal life. Man I don’t give a shit if I have nothing for the rest of my life except for my health.
Should be ok. Heck, maybe even better than ok. I’ve got 100k+ salary, house paid off, retirement contributions maxed out and most importantly: NO KIDS!!
Anyone having kids in this economy, I wish you all the luck in the world. You will probably need it!
Only because of ai/robotics that will be taking people’s jobs in droves.
I’m a medical provider so not too afraid…
But I am part-Latino lol… kinda scared about that
I’m doing everything I can in my control ie savings etc but as a student of history I’m not super excited for the second coming of the gilded age
I am convinced that for the 21st Century 2008 to the late 2020s or early 2030s will be looked at the same way that we look back at the 1930s and most of the 1940s in the 20th Century. By the year 2100, a year which likely several tens of millions of Americans will live to see, only a small portion of the wealth that does exist will come be something that exists today. There is going to be an incredible abundance that we will see over the next few decades.
Throughout all of American History, if you live a good 80-90 years you will see an incredible amount of change during your lifetime. Pick any year to be born and add 90 years to it, and during that period you will see an incredible economic and technological change where the year you died might as well be science fiction compared to the year you were born. I was born in 1984. If I make it to 85 that means check out time is 2069-2070. I fully expect that era to seem like science fiction compared to today and much of that will affect personal economics.
The near term will be difficult. Do what you can to get through it and endure. Fearing the future means you have to make predictions about the future. Take the time to sit down and write out what you think 2035 will actually look like. Try to make detailed predictions and not just a “no jobs” or “life sucks”. Write out what technology you think will be commercialized and then how society will react to that. It’s only ten years away. It’s much easier to predict job losses from technology than it is to predict the long term job and wealth creation from this technology.
If you also have the mentality that you need to bunker down in these rough times as when times get better you are in a better position to thrive. The people who endured the Great Depression went on to do very well during the post WW2 economic boom. The Great Depression didn’t last a lifetime but it was nearly a 20 year chunk of rough times.
I’m affraid of the current economy.
There are better things to be concerned with.
All things pass.
It may be bad in the short term, but that isn’t permanent.
It helps if you are able to maintain an emergency fund and you can ride out the chaos. Most of the more dire predictions are usually wrong and the world will not end. Hopefully, you can just ride out the bad times and wait for the market to come back to you.
My strategy is that I have a running reserve in relatively stable and liquid form. This means that I don’t earn as much in the boom times but it also means that I don’t really sweat the down times. I prefer to have security over maximum profit, so it’s worth it for me.
Yes. I’m just putting my money I would be putting in stocks, into the principal of my house loan (and slowly stockpiling cash). Working on an EU citizenship so I can jump from the US if/when we collapse.
I was 18 on 9/11. Been through several recessions and one of the world’s worst documented plagues since then. At some point I’m gonna die. Whether that’s in my own home, a skeezy nursing facility or under a bridge seems immaterial.
We’re the largest company by GDP in the world and it’s not even close. ($27T). China is up next at $17T and after that it’s India at $4.5T.
You combine that with being the 3rd largest population in the world and our future economy will recover.
Ensure you have plans so if income stops you can weather the storm and dollar cost average in the market when income is coming in again. Lowers the recovery timeline on an individual level.
I’m more worried about the younger generations (Z and later). They are facing extreme wealth disparity, authoritarianism, and the inevitable effects of continued climate change (mass migration, food scarcity, health risks, etc).
I’ve been through like 5 once in a lifetime crashes. This isn’t something new.
There are some indicators I’m worried about. There are lots of people who, as of February, were over exposed to the stock market. Personal debt levels are extremely high. We are still dealing with the inflation caused by the government shitting the bed in their response to covid.
I’ve been expecting a return to the days of stagflalation, I’ve adjusted my investments accordingly
Terrified, but I have literally no control over it.
Im more scared of thermonuclear war tbh. But again, I have no control over it. I focus on what I can focus on, personal finances and relationships, personal passions and goals.
Not really, what is worrying going to do for me?
Once Trump came into office, I quit social media. I will come back when he is out.
Once I am 65, I will decide if I need to start worrying or not. Even at that point, I can change nothing. All I can do is continue to save/invest and wait and see what happens. My retirement is so far away, that it behooves me little to get wrapped up into what is happening.
I also don’t believe SS will go away, the system was designed so it can never end. If we stop paying, current retirees lose all their benefits, an impossibility. When we get to retirement age, the same logic applies. Everyone must pay in or those on SS, will be ruined, by and large. To think they will remove SS and have half of the elderly living on the streets, makes no sense. Unless our country has completely collapsed, which does not seem likely.
We’re too old to live through the fall of the US. Things like this are slow and take a long time. Rome didn’t fall in a day or even 100 years. It was a slow and painful decay and death. I worry much more for our children and their children, I am not particularly worried about myself.
I am super-excited.
The single, most important mission is to gain remote work/income.
You need to be able to move around to respond to opportunities and shifting markets.
I’ve watched and been through the stock market rising, falling, crashing and rising back up again… Happens almost every 4-5 years like clock work. I’ve also watched the USD gain value and drop value, and gain value again… This is all nothing new, and as it’s nothing new why put unnecessary energy into it. Because reddit says to? Fuck that.
The stock market, retirement accounts, USD value… That is all outside of my control. My income, my savings, my spending, my household expenses, my family expenses, those are all in my current control and therefore has always been my focus from day 1.
Rando internet stranger’s take that invests as a hobby:
Not advice but perspective
You research and invest appropriately.
This is a volatile market, which means 3 things:
Some stocks are “on sale,” so you can look for long-term growth if you research.
A diverse and adaptable portfolio is useful. My 401k equivalent can be defensively adjusted to less riskier investments in times like this. It may be an option for you.
Accept this fact… It blows… There are crests and troughs in the market. You can learn to ride this based on the world’s current affairs.
If you are young and at least thinking forward with investing for your future then you are already doing better than a good portion of the population.
Take a breath. This shit gets stressful but it is manageable.
Normally I don’t sweat the macro trends, because whatever comes, I’ll adjust. This one feels different though. I’m starting to wonder whether it’s irresponsible to my kids not to entertain emigration as one of our options. My wife’s parents emigrated with things got too hairy in the home country and it worked out very well for them. On the other hand, their siblings that stayed are also OK. It’s a hard choice.
Other than the overwhelming daily sense of dread, no. This country sucks and has for a good portion, if not all of, my life. If this chaos is what is needed to shake enough of the right out of their cult worship to fix it then so be it.
I worry a lot more about civil liberties and personal freedoms than I do anything money related. I already know retiring will be a challenge. I do my best, but stressing over it will do no good.
1.) DON’T PANIC!
2.) Don’t sell off your investments when the market dips.
3.) Don’t quit your shitty job right now, it’s going to be a lot harder to find a replacement for the foreseeable future.
4.) Make sure you have safe affordable hobbies, like jogging or gardening, so you’re not tempted to drink or use drugs as the world spirals into a dystopian hellscape.
And finally most important…
5.) Don’t get important life advice from Reddit.
I am a millenial, I don’t remember a time in my life when the economy wasn’t fucked for the average person. So no, I am not afraid of the future economy or American collapsing. If it happens it happens and I’ll get up and go along with my life the next day. I have zero control over either so why worry? I got shit I can impact to worry about.
Afraid? Nah, this is the fourth major recession of my professional life. Dot com bust, 2008 crisis, COVID19, now this.
I’m more afraid of the fascists running our government that are causing the current state of the economy. Savings are meaningless if Musk’s AI-bro team decides I need to be shipped to an offshore prison without trial.
Nope, I voted for this. I’m a dumbass.
I’ve lost a decent amount of work and won a little bit. It’s gonna be bad but I’ve planned for this. I have a long run way and I am just focusing my free time on family, friends, and my community. I cut most of my non needed spending. We cook all meals at home. Date night is spent at home watching a movie. Overall we are in a much better place than most so it is what it is.
I’ve been afraid of the future economy ten years ago when it wasn’t as shit as it is now.
FIRE is probably not a possibility for us anymore, so I’m thinking more about paying down debt rather than accumulating stocks. Pay off my house and do residential investment
I’ve lived through at least 4 economic collapses in my life, 2008 was still the worst.
I’m not worried because everything always gets better. Stocks always go up, technology always gets better, etc. I’m actually really looking forward to AI, and the technological leaps society will make once it gets really rolling.
No, I grew up poor, I am currently poor. I’ve already been homeless so I’m more sitting back and watching as everyone freaks out. I don’t have the influence or capital to change what’s going on, so why should i worry about it. It’s completely out of my hands.
Not the first end of the world I’ve weathered, I think this is my fourth or fifth market crash, I’m not sure. I’ll make it or not, and at this point I’m tired of caring. I do what I can with what I can control, same as any one else.
I will say that I am concerned. For the first time since I started contributing to a retirement account I have seen my 401k and steady decline.
It’s also frustrating knowing that the people who brush this off the most are the ones who are near retirement and no longer have much of their retirement in the stock market
Nobody can predict the future. I retire in 30 years. 30 years ago was the ’90s, and it was a hell of a lot different than than it is now. I can only imagine what will be happening when I’m about to retire.
All I can do now is pay my bills, and raise my children to be strong and adaptive to whatever comes our way.
We went through this during the 2008 recession, we will be ok again. Make sure your saving as much as possible in case of emergency
Oh great. Let’s bring effing politics into here as well.
The economy is gonna be fine. Our consumerism props up many of the world’s economies. Including China’s. They will act tough but all
Have no choice but to grovel in the end. Prices go down. Inflation goes down. You’ll be fine. Better off probably.
The Chinese use the same word for crisis and opportunity
I’m afraid of the economy now. I work in manufacturing, these tariffs have a direct impact on our ability to procure material and produce for our customers. I’m saving a few more pennies each week, got my debt consolidated so that’s a smaller bill. I’m waiting for the hammer to fall, meantime I’m carrying on.
I’m more concerned than I have been since the credit crunch in 2008. Thinking about that, it’s two massive economic shocks in 15 years. I have no children, only my partner and a cat. My partner works like me and the cat has ten years left at best. The fewer dependents you have from a cost perspective the better, as children as very expensive. I wouldn’t want the stress of having young kids in the current climate.
No. If something happens I’ll deal with it then. Until then , I’ll live comfortably and happy
When you grow up doing nuclear bomb drills at school, there’s nothing the news media can tell me that scares me about the economy. I’m not under my desk kissing my ass goodbye.
Nah I don’t worry at all, there’s no benefit to dooming.
When you look at these zoomed in few weeks, it doesn’t look great. When you zoom out over a few decades, you can’t even see the dip. Stay the course.
I’m in my 50’s. so I’m definitely afraid for a couple reasons.
it seems like all throughout my life,.. however much hard work or innovative ideas or zig-zag juking I’ve done to try to “get ahead”.. is almost always undercut or diminished by some unexpected social or nationwide thing that crops up. It just makes it really exhausting feeling like no matter how hard or smart I work, I just can’t seem to get ahead.
watching the various shenanigans going on now,.. there’s a lot more individuals trying to “tear down the system”,. which as someone in my 50’s who has worked hard my entire life just to have even the slightest glimmer of chance of retirement,.. I feel more at risk than ever that’s going to be unceremoniously stripped away from me.
I’ve lost it all and had to start over a few times in my life already. Doing that in your 20’s or 30’s is difficult but doable. Doing that in your 50’s or 60’s is much more challenging.
You dont. Just enjoy the time you have now.
Can always invest into things that arent digital like land/home/gold etc.
“I don’t worry about what I can’t control.”
Ok, while there is some wisdom in that, gents, you sure as hell can fight back against your own economic demise. Make friends with neighbors, prop up your local communities, etc. It is a terribly stupid man he truly thinks he’s gonna go it alone and just weather a terrible storm.
And remember to vote in 2026.
Not really because one way or another I’ll survive. I always have
I won’t say no, but hardly to say yes. Been in the “almost bankrupt” area and so I know how it is before it comes real .
Get more savings , more reliable incomes. Seriously when the air gets more unstable, get something solid (like gold and silver in physical) .
Pffft
The economy has been shit my whole life
Bring on another recession fuck it
No not afraid of the economy, as humans we can go fishing if we need to.
I’m afraid of the current one too
Humanity has been around many thousands of years, civilization a few thousand. Most of that time people could die of a wound. The black plague killed much of the population and bacteria is mostly a non issue these days. Even the novel coronavirus was nothing compared to most outbreaks for the past 10,000 years. The dollar and stocks are but a single pixel on a screen. My bank account and retirement disappear tomorrow, I won’t be happy about it but I’ll live.
I have crypto as well, but if civilization collapses all we have are technical skills, people skills, and brains to survive.
I’d say more so irritated
I lived through the 2008/2009 shit storm and survived. We had no debt, other than a mortgage, and some savings. I was out of work for 8 months. Our portfolio and home value both dropped roughly 40%. It sucked hard, but we did not have much money when we got married. It was like being young and broke again. Then Covid. Today, at 59, it is more about being concerned my retirement will be delayed. We have absolutely no debt now and are accustomed to living really skinny if we have to. We have a sizeable 401K and will survive. Just perhaps not at the level we planned for. I think the getting through 08/09, and losing my job for the first time ever in the middle of it, kind of told us we can handle things.
Yes, but it’s because with an increase in prices due to tariffs we will more than likely not see a decrease in prices anytime soon. It means that more likely than not we will see inflation rise extremely fast over the next few years.
Well I’m an amateur trader. So I’m scared of the current economy, nevermind the future one.
A lot of what’s happened in the market I’ve seen coming, though the path to get there was different.
I prepare by doing the same thing so did before. Reading charts, looking at macro economics, establishing a thesis on what might happen and what can’t happen. It’s a lot of probability because nothing is set in stone.
Every market has stock winners and losers. But losers can make you money too, it’s just a different risk profile.
Also, the deeper the decline the greater the recovery. So I have that to count on too.
Yes and no. I’m anxious because we don’t know the future, but I’m aware that it’s needless anxiety.
Why? Because the economy WILL change. Whether it’s to the doom that everyone thinks or to something better, change is the only thing that’s constant and I’m not entirely sold that I know which way its going nor how long it’ll take to get there.
So instead what I do is prepare: build up funds, keep myself up to date in terms of the market, make myself useful at work, but otherwise continue to live life. Because you can’t live life in fear constantly. There will always be reasons to fear.
If you’re worried, make a plan and carry it out. Then let it stay at that, endless worry will bring you nothing but pain. And it won’t even let you avoid the pain better once you’ve already done your preparations.
Reduce debt and expenses. Don’t keep all your assets in one basket.
Yes but only because of the fiat currency and the individual income tax..
Absolutely!. I come from a 3rd world country which had its economy imploded in the 90’s. It got SO bad, a full monthly salary was worth enough for 2 pounds of pasta so Americans hasn’t seen anything just yet. My advice is to start saving AND educating themselves on how to survive in a situation like that. Cops and military will still be paid with the promise of more money once the situation improves but no/limited courts and jails so don’t act a fool. Buy stuff that would help you survive like non perishables, electronics and stuff you can potentially barter for because even $1000 could become so worthless that it’ll be seen as Monopoly money.
My country got millions of Venezuelan as “refugees” (that’s another issue for another time) and a lot of them had wads of “bolivares” (Venezuelan currency). A wad of bolivares was worth a cheap candy, and some places would gift you a bill with any purchase as a souvenir. Will it happen to the dollar?, I don’t know. The US is leveraged to the tits
Nope, I’m set. Had a plan at 25. Stuck to it. Investment, stocks precious metals. 3 commercial properties that pays a good rental income and 185 acres of unimproved vacant property. House is paid for 4 years ago and retired. I’m 60 now.