Need Advice: As this economy collapses, where can I turn for safe retirement investing?
I'm very green on the topic of investments so I'm hoping I can hear some opinions from people on this board.
I have a 401k that has tanked in the last year. Along with many of you, I've looked for an a different solution while our economy collapses. Of all the advice I've heard, two interesting but quite different lines of advice stand out. Please give me your thoughts on these:
OPTION 1:
The first option is to look into investing in China. The argument being that they are buying our assets at bargain prices. Needless to say I am skeptical of the idea that an economy which has been run by central planners is a good investment option. Also, my company's funds are heavily vested in American enterprises.
OPTION 2:
The second option is, of course, precious metals. This seems the safest but how does one acquire it? Where should I store it? Can I trust someone to store it?
I know enough to believe that either option is better than betting on the American dollar.
So, what are the pro and cons of each? And, perhaps as importantly, how does one reallocate existing 401k funds without incurring huge penalties?
I'd appreciate any discussion on this topic. Thanks!
Invest in AIG
Warren Buffet did.
Do you REALLY want to protect your money and your life ?
Write me and I will explain just how that can be done.
peaceplace@racsa.co.cr
Discover Costa Rica
Discover Costa Rica
Don't worry about your retirement…
… the powers that be have all those details worked out. Retirement is the LAST thing that anyone should be concerned about at this time. However, it would be advisable to convert any and all paper assets to tangible assets (if that is still possible.)
"It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." Samuel Adams
“Just look at us. Everything is backwards; everything is upside down. Doctors destroy health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the major media destroy information and religions destroy spirituality”
Stagflation
Take this warning serious, get your money out of the bank now and put it into something of real value. What we are seeing today isn't the first time a government has come up with emergency plans to save a currency. I remember Brazil in the early 1990's, the people had to spend their money as soon as they got paid because the prices at the supermarket went up daily.
grant
GOLD, SILVER, SOME PAPER
Firstly, you need lots of gold coins and/or junk silver IN YOUR PHYSICAL POSSESSION. Put them in a hidden safe and tell no one. This will act as a hedge against inflation and possible hyperinflation. Secondly, buy a gun to protect your physical assets. Once the looting starts you'll be glad you have it. Buy lots of bullets too.
Thirdly, take ALL of your money out of the banks. They are failing, and once the mass bank runs begin, you'll be nice in cozy in your home with all your money. Also, FDIC is INSOLVENT. They only have 0.05% of what they claim to insure. The result will be that Bush will close the banks in an attempt to prevent mass riots. He will say, "Everyone be calm, your money is there, but we have to do this slowly and orderly." The money is not there, they will simply create it and push the dollar further towards hyperinflation. This will be the time to take your cash and buy everything you need to prepare for mass chaos. Buy a book that can detail everything you need to survive independently. Use your cash to buy food, water, water purifier, generator, etc., etc., etc. You may want to hang onto a little cash just in case but most should go to things you actually need. Paper is not condusive to survival.
Your gold will insure that you have some wealth and security if things ever start to return to normal. You will also be prepared to survive this crisis which could last more than a decade. Do these things and you should be good to go.
Oh, and be sure to create an excellent hiding spot for yourself, your safe, and your supplies. When the nazis come pounding on the door maybe they won't find you.
good luck!
"Truth is treason in the empire of lies." - Ron Paul
"Truth is treason in the empire of lies." - Ron Paul
Invest in carboard boxes
because that's what everyone will be living in.
food, survival equipment
hide your gold and silver. Don't use banks.
NFA weapons.
NFA registered weapons have been a great investment for people I know. With Obama likely coming into the White House w/ Biden at his side, you can be sure that weapons prices will skyrocket. An M16 today at $18,000.00 will most likely sell for around $25,000 by this time next year. A NIB Maremont M60 for $38,000.00 today will be worth, close to $50,000.00 in a year. So, NFA weapons, and silver. I don't buy much into the gold thing. It'll be to hard to utilize IMO.
Dump your paper for physical
Dump your paper for physical gold and silver. Investments that pay out in paper money will be worthless in the near future.
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Buy LOTS of gold and silver if you can, and while you are at it
Yes, I think that having lots of gold and silver will be helpful to those who can do that.
For the rest of us peons, we may have to come up with another solution, In the meantime,
Put the plan into action that I've been telling you about to
tell everyone,
to write in Ron Paul,
let's get united in this
effort to save our country
and
NEVER, NEVER, NEVER, NEVER GIVE UP!
~ Churchill
Never, never, never give up!
Please don't write-in Ron
Please don't write-in Ron Paul. Voting for an actual party and candidate allows federal money to go to that party (instead of the going to the republicrats). It also allows easier access for the party you voted to get on the ballot easier.
Ron Paul has asked us not to vote for him, and he's endorsed Chuck Baldwin. Please, listen to his suggestions.
Follow me on Twitter http://twitter.com/Ron2012Paul
I don't know about taking your money out of a 401K
A poster earlier said he tried, willing to pay penalties and taxes, and they still wouldn't let him have his own money.
Before you invest overseas, remember that freedom creates prosperity, prosperity does not buy freedom. So look to invest in those economies that are the most free. And to which you can get access (Are you first or second generation citizen--if so, you might try to get dual citizenship. I have dual citizenship and a passport to my grandpa's native country.)
If the value of your dollars will be appreciably lower, and will buy appreciably less tomorrow than today, use those dollars to buy things that will hold their value as much as possible. If you're looking at gold, I would look at circulated coins trading close to gold, rather than bullion--if they are available. They might re-enact the 1934 gold laws against owning bullion. There's always silver. Silver bullion and junk silver might be options. If you're going to stash gold and silver in your home, which is safer than a bank, don't forget the other precious metals: brass and lead.
If those aren't options, think about buying and storing stuff you can barter with, but that won't spoil and that you or someone you know will use anyway. Vodka. Cigarettes. Canned goods. Water.
Buy gold and silver
Not the paper notes either. I'm talking about the Physical METAL.
top 25 censored stories in the Media 2008 - http://www.dailypaul.com/node/63658
Real Patriots for 9/11 truth -- http://patriotsquestion911.com/
Find out if you have a local militia - http://www.uaff.us/
Real Patriots for 9/11 truth -- http://patriotsquestion911.com/
Go to www.solari.com a very
Go to www.solari.com
a very helpful sight!
This is good also.
I would however buy precious metals.
top 25 censored stories in the Media 2008 - http://www.dailypaul.com/node/63658
Real Patriots for 9/11 truth -- http://patriotsquestion911.com/
Find out if you have a local militia - http://www.uaff.us/
Real Patriots for 9/11 truth -- http://patriotsquestion911.com/
Catherine (at Solari)
Catherine (at Solari) recommends precious metals as well. Since she was a former assist. sec to HUD her recommendations encompass alot of scenarios. She can also be hired to look at your specific scenario.
Go to www.solari.com a very
Go to www.solari.com
a very helpful sight!
Hard assets!
Hard assets!
Rags make Paper; Paper makes Money; Money makes Banks;Banks make Loans; Loans make Beggars; Beggars make Rags
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