I'm done with my 401k
Submitted by abc123 on Wed, 09/24/2008 - 00:44
I just sent a request to cash it out.....I've lost 18 percent this year not even taking into account inflation. I figured the 10% penalty would be offset by the inflation devaluation my money would incur regardless.
They kept 20% for taxes which is ok since I haven't paid taxes on it yet.
Now the question is where to park this money....keep on hearing inflationary and deflationary depression coming...which one is it? Should I buy gold and silver or keep the cash?
Your thoughts?
»
I pulled my last year (401K)
I put some of my money into the 4X market last year an its up 38% so far. Will be putting more in next month.
finish me off
I have been DONE after Clinton's last tear in office.CAPTAIN AHAB.THERe goes the white whale follow me.
says
caveman's christmas
Buy the things that a caveman would love to have on Christmas morning. Some good knives, flint, sewing tools and thread, chapstick.
Ok, I did the same I have pulled my money out too
Here's what I am doing.
The bailout is for the foreign investors, they are very nervous. They should lessen their positions in the dollar. If this bailout goes through the dollar will fall and if the Asians start dumping the dollar no amount of money will save the economy. The play is "short the dollar using an ETF like UDN and buy Gold ETF like GLD and buy gold hardware".
"Lead, follow, or get out of the way."
-- Thomas Paine
A Republic, If You Can Keep It
No ETFs!
Physical possession only. There have been many articles indicating that the ETFs are overselling their physical stock to manipulate the markets (fractional reserve style). Paper is no substitute for tangibles in times like these. Don't risk it.
-LF
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"Let the good heart speak words of true peace, not inciting others to further war." -- B.I.S.
"The bailout is for the foreign investors"
Exactly!
The US government owes money. The lenders said pay NOW OR ELSE!
Or else what? I'm not sure probably: negatively influencing our market resulting, eliminating bribery, and kicking many politicians out of their positions.
They have our government by the short hairs...and they have us by ours.
So the US government used the ol' corporate welfare trick to pull money out of the taxpayers.
That is why this deal will go through no matter how mad everyone gets, no matter how many calls we make, etc.
Both parties will blame each other...and the media will support this giant charade.
Welcome to the machine.
This is what happens when countries are debtor nations
If you can't borrow you can't survive.
"Lead, follow, or get out of the way."
-- Thomas Paine
A Republic, If You Can Keep It
Euro Pacific Capital. That's Peter Schiff's business.
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"We will never give up. We will never give in." - Dr. Ron Paul
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"We will never give up. We will never give in." - Dr. Ron Paul
EuroPacific Fund
is down 17%.
You're getting EuroPacific
You're getting EuroPacific Fund mixed up with Euro Pacific Capital.
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"We will never give up. We will never give in." - Dr. Ron Paul
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"We will never give up. We will never give in." - Dr. Ron Paul
Whaaa? Tell me more.
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"We will never give up. We will never give in." - Dr. Ron Paul
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"We will never give up. We will never give in." - Dr. Ron Paul
why ya think he wants the bailout???
....
Explore Orthodox Christianity
he wants the bailout??
are you serious?
I cashed my $12k out last
I cashed my $12k out last week, thank god. Buying stuff that will be useable when dollars are worth nothing.
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A great empire, like a great cake, is most easily diminished at the edges. - Ben Franklin
Now that you have taken that step, do what I did today!
Go buy "Crashproof" by Peter Schiff and Crack The Code (can be found at losthorizons.com and see how you don't have to pay income tax on that money), then go buy books on getting off the grid with home made energy systems. I spent about $150.00 today on books and plan to read them over the weekend.
We will be converting to "supplimental" energy first and then off the grid in a year.
I didn't cash out my retirement yet, I plan on reading Peters book first to see if I can better manage my pension, but I do plan on filing for refunds from previous years of taxes collected - illegally! Based on what I read at losthorizons. You can scroll FOREVER at the scanned and posted refund checks and that's not even all of them.
Anyway goodluck!
!!!Truth is treason in the EMPIRE OF LIES!!!
" Single acts of tyranny may be ascribed to the accidental opinion of they day; but a series of oppresssions...pursued unalterably, through every change of ministers, too plainly proove delibrate, systematical plan of reducing us to slavery..."
Tho
If you decide to invest in land
just make sure it is not a property in their Agenda 21. Google for it..
Here's a great gold and silver place:
http://www.infowars.com/midas/
http://killfiat.blogspot.com/
Thanks!!
All great Ideas...
Forget 'three wishes' get the magic wand.
World's Greatest Business
http://www.gbemembers.com/webintro.php?view=wmv
The Number one reason people lose money is the FEAR of losing money.
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only
Land
The rest in CDs until you find more land to buy
Put some
of it in freeze dried and dehydrated foods. They hold up for 25 to 30 years when the times get bad you will have enough for yourself and could open a little store. Just an idea. Peace
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
this is a hard question.. my
this is a hard question.. my father inlaw has lost 400k on his 401k so far this year.. I would take 20 to 30% of it and put it in silver! the banks.. ALL banks are unstable.. this problem is systemic! You have the biggest problem that faces each household in this country.. Me I put everything into farm land and silver.. I am my own bank.. but thats just me.. Schiff is a good reccomendation..
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
you need to read
"Crash-proof" by Peter Schiff - he explains what to do. i would just recommend you read it today and start investing by tomorrow!
Alt Energy
Don't overlook solar heat/electric. These offer a positive return on your investment (dividend) as you are actually saving the money you would have paid for grid power, monthly (you can actually increase your return with net-metering by selling surplus energy back to the power company). Your return will actually increase with inflation as energy bills rise. It's a perfect hedge.
Take that money and place it in gold and silver over 20-30 years and you will find that your investment outperforms anything the market has to offer! And you will have received "free" heat and power over the same timeframe.
-LF
_______________________________________________________
"Let the good heart speak words of true peace, not inciting others to further war." -- B.I.S.
401K = WMD
"Lead, follow, or get out of the way."
-- Thomas Paine
A Republic, If You Can Keep It
I'm investing in a movie
people go to the movies a lot more in bad times.
Don't buy metals you can't hold right now. In fact avoid the big markets altogether.
Explore Orthodox Christianity
If it were me I'd buy both
If it were me I'd buy both food commodities and gold and silver. Silver is an incredible buy if you can retain it physically and hold it.
my 2 cents.
Puppets come and puppets go but the world's stage is getting cluttered.