Help with finances
So I need some help...well actually I need some help regarding my parents IRA accounts. My mom is really coming around to the BS being fleeced on American folks. My dad not so much. Anyway, today I got both of them to watch some youtube of RP and anti- NWO stuff, and the cspan from the floor videos(the important ones). So they have roughly $60k in their IRA and very little in stocks(apple, abbot labs(the apple was my suggestion)) I am trying to convey to them that it is time to cash them out before they are worth nothing. My suggestion to them was, they cash out the IRA completely, buy $25k in silver, $5-$6k in gold and hold on to the rest. I told them if they do go with this they will have to warn the bank that they will need the cash on hand for a withdrawal after the checks clear. Can anyone help me? Am I off base with my thinking? Thanks in advance.
go to garynorth.com and ask
go to garynorth.com and ask
I added a Proud Supporter of Ron Paul button to my homeschool "McGuffey" site!
http://www.mcguffeysonlinetutor.com/public/main.cfm
Go to this site
http://www.infowars.com/midas/
Call them up and ask them how to convert their IRA to gold or silver.
Your mom and dad don't have to lose any money from penalties and keep their IRA, just invest in precious metals.
http://killfiat.blogspot.com/
I would have them cash out
I would have them cash out of their Treasury bonds before the Chinese and Japanese do. These will be worthless paper if they do. Transfer to real American money to their own homebased bank. Buy food and supplies and be prepared. Do this not out of fear, for only a fool acts out of fear, but a wise man prepares for hard times.
grant
If I was in their shoes
That is exactly what I would do. But I would say about 15k in silver (about $1000 face) and the rest in Gold. (holding on to some as FRN toilet paper of course as you mentioned) The reason for less silver and more gold is that gold is generally** less volatile on the short run, more stable on the long run as well, and lighter to carry the same value. ($1000 face would be 2000 half dollars or 4000 quarters but only 20 one ounce gold Eagles or Buffalos (each about the size of a half dollar)
Some things to think about
I am faced with the same problem. I would not suggest that they take all the money out unless they are over 59 1/2 so they don't get the absurd penalty fee and taxes for withdrawing. Peter Schiff (Ron Paul's economic advisor) runs Euro Pacific Capital and would probably be the best place for them to put their money for an IRA. Maybe it wouldn't be such a good idea for them to put all their eggs in one basket on this one with gold. If this was money they were going to use sometime soon I would say gold is a safe bet but considering it is something as important as their entire retirement account, I think it might be best to hear what advice the pros at Euro Pac suggest. That doesn't mean you have to take them up on whatever they suggest. They just might have a good idea.
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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