40 Acre Farm or Gold/Silver?

Try a 20 acre farm and some gold and silver to pay your taxes when they come due so you don't get kicked off your 40 or 30 or 20 acre farm. Just a tip from your uncle Lar...

 Go with your heart .   You could go up and work the place on the weekend  and vacations . If you find you do not like it  sell it .   Ask the bank the very lowest they will go on it . Maybe they would let you go up and stay a few weekend to get a feel for the country and the community . Take a camper if the house is in really bad shape .    You might be able to let another family go in on half of it  and work side by side ..  

Romans -

In my opinion buying 40 acres of good farm land with buildings for $40,000 sounds like a fine deal.  They aren't making any more of the stuff.  Just do the due diligence as advised above.  If the SHTF and money loses its value, the farm is a real asset and a refuge that can keep you alive.  As you say, your present location is very hazardous.

Until that day draws near, don't even think about farming it yourself.  There is a joke farmers like to tell about the old farmer who won $1 million dollars in a lottery.  When asked what he would do the old farmer said, "Well I guess I'll just keep farming until the money runs out."  I grew up among farmers and today even the best of them struggle.  You don't have the knowledge, skills, or capital to make a go of it.  However, you should be able to rent the land for crops or grazing at a good price to produce income.  Maybe rent the house too through a reliable local agent who can look out for you. Be sure you can evict the tennets at will with proper notice if you want to move there.  Spend as much time as you can there and make friends with the locals.  Theft and vandelism are risks you need to consider.  A nearby farmer would probably be glad to look out for you, especially for a modest payment. 

You could make a big down payment and have a low rate mortgage for the balance, pay off your high rate credit cards, or keep a chuck of cash for farm improvements, or save it to pay off the mortgage quick if needed.  If you don't want to go that route I'd pay off the cards over a year or two while also saving cash for emergencies or to stock up for bad times. Cash is your insurance that you don't get trapped by circumstances.  I think you need other things more than you need more gold at this point, like upgrading you farm so you could survive there.  As you see, you can have several good options to choose from while still owning a great asset.

Romans,

If it's as you say, then I'd buy the land and get a moving.  But as someone stated before, go with what your heart/intuition tells you....it's going to be right.  

As for the CC.....it's a tough question.  If YOU'RE comfortable with having the payments as they are then no biggie.  I pay mine off every month and use it for the air miles, but I'm in a different situation financially.  

Just make sure your family is 110% behind you on becoming "farm folk".  If they're not, you're in for a world of hurt.

Romans:

Many posts to your question, but given what you provided, the repayment of CC should be a no brainer.  If your interest rate charged is 15% and your money market fund is essentially zero, you make 15% without too much trouble - compounded . 

Restricting use of CC, if possible is a good idea, or at the minimum, whatever you charge, pay off when presented.

Good luck!

No earthwise, you're not hallucinating:  it *does* taste better.  And likely has a lot more nutrients in it than store-bought produce.

Viva -- Sager