I always like to have a backup plan. You know, like a spare tire if you get a flat, an alternate route if the bridge is out, a spare case of beer just in case, etc. I even have a backup plan for a Wall Street crash, a secret stash of financial security.
This stroke of genius came to me when my wife recently traded in all of her “spare gold”(geez, there’s an oxymoron if I ever heard one) for a new ring and pendant. Gold was selling at an all-time high; what better time is there to hock your wedding ring, high school class ring, and grandma’s jewelry?
Her new wedding ring is lovely (Hmmm, I’m still happy with my original wedding ring.), the pendant is stunning, and she’s happy. And, she got a really good deal on the new pieces, 20% off the all-time high gold price. She’s happy so I’m happy, and, like I said, this gave me an excellent idea on how to backup the remainder of our life savings.
I’ve started collecting used motor oil. Every old abandoned farm I’ve come across has some old rusting cans of unused or recycled motor oil. Occasionally, I even find a partially filled 55 gallon drum of motor oil. This is refined oil, even more valuable than crude oil, and it never goes bad. (Geez, oil is already a million years old when it comes out of the ground.) Its only a matter of time before crude oil reaches another all-time high, and when it does, think how valuable my collection of motor oil will be.
If Wall Street crashes, I’ll just take my motor oil collection down to the local gas station and cash it in. Great idea, huh?
Thought for the Day: Most people are about as happy as they make their mind up to be. Abraham Lincoln.