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Post by Chris Kaufman on Jul 18, 2012 21:51:51 GMT -5
K, so I just started a new job and have a bit of money in a 401K and ROTH account from my old job. Since I switched jobs it's apparently a life changing event, so I guess I can pull my money out? I know it's usually always a bad idea to pull your money out because you get hammered by fees and taxes. The question I have is, if I'm guessing that there's going to be a HUGE financial disaster on the horizon, would it be smart to pull my money out? Studying history and fiat currencies, it's bound to happen sooner or later, so would it be more beneficial to actually have my hands on part of the money as apposed to losing it all when the bottom of our system drops out? I don't know. Seeing how other countries are starting to stop trading in US dollars, I see the dollar imploding soon. If that happens, all of our retirements will be worth nothing. www.infowars.com/11-international-agreements-that-are-nails-in-the-coffin-of-the-petrodollar/What do you all think? Am I just being paranoid? |
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Brad Costa
Bronze Member
---Pullerville--- Sacramento CA
Posts: 195
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Post by Brad Costa on Jul 18, 2012 23:41:28 GMT -5
Chris the type of guy who would ask this question is usually the guy who makes the right decision. I dont think the dollar will fail anytime soon, and its probably your safest bet... most metals are at a peak or near it right now and other economies are looking as bad if not worse than ours.
Where would your money go once you cash out?
Housing is starting to rebound and if you can afford it now is a time to grab what you can. If you cash enough to make an investment in property, I'd say its your best bet. Only because of the return percentage that should be coming.
But who knows.
The brad
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Post by Kyle Fitzpatrick on Jul 19, 2012 8:19:11 GMT -5
Wow Brad I have to completely disagree. Does that mean we're no longer partners? LMFAO - JK BRO!
Chris - I have been purchasing silver when I can, and the savings for my oldest son has been cashed out for silver as well. The days of the dollar are numbered, and I sincerely believe that most of us will live to see it fall, or at least become so devalued that we might as well use it for tissue or to wipe our butts with.
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Post by Jeff Janes on Jul 19, 2012 11:06:00 GMT -5
Leave it or put it into a Roth IRA if you can. You'll end up losing 40% to taxes unless you meet specific criteria and changing jobs doesn't change the tax penalty I dont believe. The stock market will have it's ups and downs but over your working lifetime you will have a better return on your investment than almost anything else.
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Post by John Wilson on Jul 19, 2012 15:11:53 GMT -5
The only reason to cash out is if you have a better potential to earn capital than what you were getting in your investments. i.e. use it to invest in yourself and start a business with it if it's the only cash you can liquidate.
I haven't had any money in the market for the last three years. There were times when I was losing huge by not being in when the market was going hot, and then there were just as many times when it would have been wiped away again.
Like most people, I'm tired of watching my money ride up and down like a seesaw.
But, if I were you and already had money in a 401k, I'd leave it there. You're changing jobs, not starting a business where you need the cash right away. If you have no definite vehicle lined up with a better return, then why in the hell give half of it to the tax man?
Let it ride. You can always roll it into the new account and then chop your payroll deduction to the minimum to avoid putting additional cash in there if you don't want to throw good money after bad. But damn if I'd give it to the government.
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Brad Costa
Bronze Member
---Pullerville--- Sacramento CA
Posts: 195
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Post by Brad Costa on Jul 19, 2012 23:41:29 GMT -5
I'm not sure I was clear in my post. I'm for keeping your money where it is. finding a return just equal to the penalties is hard to do.
And I'm not for buying anything at a premium, metals are at a premium right now. not worth it for me.
The brad
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Post by kyledarby on Jul 20, 2012 1:01:36 GMT -5
Ruger and Smith & Wesson are always safe investments, just sayin  |
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Post by Kyle Fitzpatrick on Jul 20, 2012 11:56:12 GMT -5
Ruger and Smith & Wesson are always safe investments, just sayin agreed. firearms are one of the most solid investments anybody can make. finacially and personally. |
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Post by Robert Bishop on Jul 23, 2012 0:02:13 GMT -5
Wow Brad I have to completely disagree. Does that mean we're no longer partners? LMFAO - JK BRO! Chris - I have been purchasing silver when I can, and the savings for my oldest son has been cashed out for silver as well. The days of the dollar are numbered, and I sincerely believe that most of us will live to see it fall, or at least become so devalued that we might as well use it for tissue or to wipe our butts with. you are a wise man imo ;D i believe almost 100% chance that dollar will will die the question is not if but when  everything backed by federal reserve bank notes will be lost  some say the Euro has already crashed unofficially and that the elite are moving everything they have into metals or other things that will hold value i dont think we will make it another year and when it happens it will be sudden. They declare a bank holiday before people realize what is going on and the banks will stay closed perm i would take every dime i could spare and buy metals as fast as i could and leave in the bank only enough to pay bills |
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Post by Robert Bishop on Jul 23, 2012 0:10:21 GMT -5
i would also think about
extra food
weapons and ammunition
water purifying
and i would not tell anyone what i had because the government can now confiscate anything they want
find a good place to hide anything you dont want them taking
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Post by Robert Bishop on Jul 23, 2012 0:53:10 GMT -5
fukashima is causing much damage to the fishing in the pacific ocean. The tuna in the ocean is contaminated way above what was called safe in the past. The mainstream media wont talk about how much damage is being done and how the jet stream is causing radiation levels way above what was called safe inside the US and Canada.
the fish are dying or contaminated in the pacific
the drought has caused loss in this years crops
chickens are being destroyed by the hundred thousands in Mexico because of bird flue
the prise of food will start going up because of these things and other things that are causing trouble
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Post by Robert Bishop on Jul 23, 2012 0:55:46 GMT -5
the mainstream media can kiss my a$$
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Post by Brent Norris on Aug 1, 2012 0:52:07 GMT -5
Wow Brad I have to completely disagree. Does that mean we're no longer partners? LMFAO - JK BRO! Chris - I have been purchasing silver when I can, and the savings for my oldest son has been cashed out for silver as well. The days of the dollar are numbered, and I sincerely believe that most of us will live to see it fall, or at least become so devalued that we might as well use it for tissue or to wipe our butts with. you are a wise man imo ;D i believe almost 100% chance that dollar will will die the question is not if but when everything backed by federal reserve bank notes will be lost some say the Euro has already crashed unofficially and that the elite are moving everything they have into metals or other things that will hold value i dont think we will make it another year and when it happens it will be sudden. They declare a bank holiday before people realize what is going on and the banks will stay closed perm i would take every dime i could spare and buy metals as fast as i could and leave in the bank only enough to pay bills Ditto! Take your loss for what it is now and invest in something real and tangible or lose it all. |
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Post by Brent Norris on Aug 1, 2012 0:53:07 GMT -5
the mainstream media can kiss my a$$ Even Fox and Friends??? |
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