jasonb318
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« on: July 07, 2008, 11:02:08 PM » |
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Moved retirement fund into money market account to stop further losses. Had to take a loss but could be worse. What do I do now? I sheltered what I could from further downfall but thats about all I can do. Im only 35 so I dont need this money for a long time but them bastards arent stealing what I saved so far. Are we going to see a market crash by sept???
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Theo42
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« Reply #1 on: July 07, 2008, 11:07:29 PM » |
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Moved retirement fund into money market account to stop further losses. Had to take a loss but could be worse. What do I do now? I sheltered what I could from further downfall but thats about all I can do. Im only 35 so I dont need this money for a long time but them bastards arent stealing what I saved so far. Are we going to see a market crash by sept???
Not recommending you do it, but about a year ago, I Liquidated mine and actually used it for things that I can use. I'm not even remotely confident that it will be there for much longer.... I took a penalty, but I walked away with my money. I don't think we are coming through this one without losing everything. I'm 33 with 3 kids, btw. |
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jasonb318
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« Reply #2 on: July 07, 2008, 11:13:20 PM » |
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wow, you must have strong belief in whats coming. I dont need the cash but dont want to lose what I saved in a down market either. Thats a tough call to make that you did. Take a big penalty also. Bastard thiefs will probably steal our money like they stole our gold in the 30's
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lostdog
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let their eyes not your words convince them
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« Reply #3 on: July 07, 2008, 11:26:41 PM » |
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'sell the kids and move into south american zinc'
no seriously though
buy food, solar power equipment, shortwave cbs etc and with any $ left tools and books.
pray you get to head somewhere safe when it all crashes.
i am not in a $ position to do this but would if i could
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we face a truth your eyes forgot
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rustygunn
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« Reply #4 on: July 07, 2008, 11:29:48 PM » |
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I was pissed to find out I could not take my money out. According to the rules of my plan, the only way (other than hardship) that I can get my money is if I quit or get fired from my job. Then, and only then, can I have my money after paying the penalty. I can take out a loan, but what is the point in that, since I would be obligated to pay it back. Meanwhile, I sit here and watch my money get stolen.....and there is not a damn thing I can do about it. My wife and I are resigned to the fact that we will never see any of that money. Isn't it funny how there have been all sorts of articles and news reports telling the masses not to touch their 401K in these tough times?  |
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New Whirled Order
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« Reply #5 on: July 08, 2008, 12:01:22 AM » |
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I put 100% of my 401k money in a treasury money market fund about 8 months ago.
I'll be damned if I'm gonna lose 50% (or more) of it again like back in 2000, but it's still a "paper" asset any way you look at it.
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PaladinRoden
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« Reply #6 on: July 08, 2008, 01:34:50 AM » |
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About a year and a half ago I took all my money out of the market and invested into gold and silver. My portfolio has more then doubled since that time.
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"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds."
- Samuel Adams "Sons of Liberty"
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Sheep Shagger
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« Reply #7 on: July 08, 2008, 01:55:58 AM » |
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'sell the kids and move into south american zinc'
no seriously though
buy food, solar power equipment, shortwave cbs etc and with any $ left tools and books.
pray you get to head somewhere safe when it all crashes.
i am not in a $ position to do this but would if i could
I would agree with the above... Also i would invest in a military rugged grade laptop to go with the solar power.... Also lots of gold and silver and then bury it in your garden if possible. ALso if you have enough i would purchase some land... Even an island if it was possible ; |
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lostdog
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let their eyes not your words convince them
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« Reply #8 on: July 08, 2008, 02:03:20 AM » |
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if it gets really bad , find an empty freighter, fill it with good humans and come to nz
it isnt totally f#@*ed yet,
but they are working on it
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we face a truth your eyes forgot
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New Whirled Order
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« Reply #9 on: July 08, 2008, 02:11:06 AM » |
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if it gets really bad , find an empty freighter, fill it with good humans and come to nz
it isnt totally f#@*ed yet,
but they are working on it
Did they ever get that cow flatulence tax approved there yet?  Just kidding around with you.... It is one of the most bizarre news stories I've ever seen though. |
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lostdog
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let their eyes not your words convince them
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« Reply #10 on: July 08, 2008, 02:13:43 AM » |
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you have no idea.
strange doesn't begin to cover it
but cover it they did
day after day after day
must be nice for the journalists of today
never having to tell the truth
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we face a truth your eyes forgot
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Freebird100
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« Reply #11 on: July 08, 2008, 07:26:50 AM » |
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The problem with putting your 401k in dollars is that the dollar keeps going down.So you`re losing there also.
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"The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first."
Thomas Jefferson
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Kregener
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« Reply #12 on: July 08, 2008, 08:03:38 AM » |
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ANY 'paper' asset is no asset at all!
Market fund, CD, whatever...if it is 'paper', it will be blown to bits in the coming financial meltdown.
Gold and silver are wealth insurance.
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Going to church does not make you a Christian any more than going to a hospital makes you a doctor.
Stop thinking in terms of left and right and start thinking in terms of right and wrong
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Freebird100
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« Reply #13 on: July 08, 2008, 08:07:03 AM » |
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ANY 'paper' asset is no asset at all!
Market fund, CD, whatever...if it is 'paper', it will be blown to bits in the coming financial meltdown.
Gold and silver are wealth insurance.
The problem is not all 401k funds offer a precious metals fund. |
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"The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first."
Thomas Jefferson
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Kregener
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« Reply #14 on: July 08, 2008, 08:11:56 AM » |
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You mis-understand me friend, DO NOT keep your 'money' in ANY fund! DO NOT allow some other person to direct your 'assets'.
Get them OUT, as in, GET A CHECK, even if you have to pay a 'penalty', and convert that check in PHYSICAL gold and silver, IN YOUR POSSESSION, not in some 'certificate' or even the real stuff kept in a 'safety deposit box', but IN YOUR HANDS for YOU to keep and secure.
ALL...read;ALL paper 'assets' will be null and void when the tsunami hits.
Bank.
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Going to church does not make you a Christian any more than going to a hospital makes you a doctor.
Stop thinking in terms of left and right and start thinking in terms of right and wrong
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Freebird100
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« Reply #15 on: July 08, 2008, 08:26:17 AM » |
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You mis-understand me friend, DO NOT keep your 'money' in ANY fund! DO NOT allow some other person to direct your 'assets'.
Get them OUT, as in, GET A CHECK, even if you have to pay a 'penalty', and convert that check in PHYSICAL gold and silver, IN YOUR POSSESSION, not in some 'certificate' or even the real stuff kept in a 'safety deposit box', but IN YOUR HANDS for YOU to keep and secure.
ALL...read;ALL paper 'assets' will be null and void when the tsunami hits.
Bank.
It seems they`re doing a pretty good job controlling the price of gold and silver also. I`ve heard it said the criminals can manipulate the price of gold through funds such as this. http://finance.yahoo.com/q?s=GLD |
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"The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first."
Thomas Jefferson
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TruthHunter
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« Reply #16 on: July 08, 2008, 09:06:31 AM » |
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I was pissed to find out I could not take my money out. According to the rules of my plan, the only way (other than hardship) that I can get my money is if I quit or get fired from my job. Then, and only then, can I have my money after paying the penalty. I can take out a loan, but what is the point in that, since I would be obligated to pay it back. Meanwhile, I sit here and watch my money get stolen.....and there is not a damn thing I can do about it. My wife and I are resigned to the fact that we will never see any of that money. Isn't it funny how there have been all sorts of articles and news reports telling the masses not to touch their 401K in these tough times? Take the loan now and buy gold bullion. If you wait the assets in your account will be valued lower and you get as much and the value of gold will probably rise at the same time. Even if you have to pay it back over time, the value of the gold you buy will likely increase enough to offset any interest you may have to pay (and yes, 401k loans frequently DO carry interest. The only way to keep the account growing if you aren't letting the banker invest your money is if you make up the interest payments yourself.) |
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Kregener
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« Reply #17 on: July 08, 2008, 09:23:45 AM » |
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You should be grateful 'they' are working 24X7 to keep the price of gold and silver down so the buying opportunity remains!
I admit gold is beyond the reach of most at this point, but silver is still within the realm of sanity, so get some...soonest.
Sorry to hear your 'fund' is locked up tight within the system rustygun, but I second Truthhunter's take on it. My guess is, you will never have to 'pay it back', as you will be trying to survive by hunting rats in the streets for supper...
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Going to church does not make you a Christian any more than going to a hospital makes you a doctor.
Stop thinking in terms of left and right and start thinking in terms of right and wrong
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knas
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« Reply #18 on: July 08, 2008, 01:46:03 PM » |
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Humm, could someone explain to a non-american what that 401k is?
Yes I can figure out that it is $401.000, but what are they? Some sort of retirement fund that you get for some reason?
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"Truth is Treason in the Empire of Lies"
- Ron Paul
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Kregener
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« Reply #19 on: July 08, 2008, 01:49:47 PM » |
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Some sort of retirement fund that you get for some reason pretty much sums it up. http://en.wikipedia.org/wiki/401(k) |
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Going to church does not make you a Christian any more than going to a hospital makes you a doctor.
Stop thinking in terms of left and right and start thinking in terms of right and wrong
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TruthHunter
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« Reply #20 on: July 08, 2008, 01:49:58 PM » |
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Humm, could someone explain to a non-american what that 401k is?
Yes I can figure out that it is $401.000, but what are they? Some sort of retirement fund that you get for some reason?
It is a retirement plan where the employee and employer contribute money to a fund for the employees retirement. |
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knas
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« Reply #21 on: July 08, 2008, 02:01:17 PM » |
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It is a retirement plan where the employee and employer contribute money to a fund for the employees retirement.
Thanks, that explains it. Does everyone get this in the US, or is it just for some folks? |
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"Truth is Treason in the Empire of Lies"
- Ron Paul
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TruthHunter
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« Reply #22 on: July 08, 2008, 02:02:55 PM » |
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Thanks, that explains it.
Does everyone get this in the US, or is it just for some folks?
Only if the company you work for offers it. We don't have a national pension like some countries. |
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shirteesdotnet
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« Reply #23 on: July 08, 2008, 02:06:05 PM » |
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Im not so lucky to have a 401k so I dont have to worry about it, but I dont have to answer to anyone either  or have my money locked up. There is always a lot of financial news on Survival Blog. Keep informed here... http://www.survivalblog.com/Id put some money into getting prepared with survival stuff. Food, water, gold, silver, guns, etc. Im doing this now. I want to make sure I have an easy way out of Los Angeles in case we get nuked here Luckily Im near the mountains so I can 4x4 my way north if needed. But check out Survival Blog because within the last two weeks there was a good post about a guy with 401k and how to ditch it and then what to do with that money. There was a great reply so try to find it if you can. |
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knas
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« Reply #24 on: July 08, 2008, 02:30:49 PM » |
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Only if the company you work for offers it. We don't have a national pension like some countries.
OK, I understand. Here in Sweden, we have both a national pension fund and somehing similar to your "401k" system that you get through your employer(s). |
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"Truth is Treason in the Empire of Lies"
- Ron Paul
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Theo42
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« Reply #25 on: July 08, 2008, 02:38:13 PM » |
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Kregener
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« Reply #26 on: July 08, 2008, 03:10:55 PM » |
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We don't have a national pension... Sure we do! It is called "Social Security", and it taken from you whether you want it or not, and it will not be there for you when you need it. |
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Going to church does not make you a Christian any more than going to a hospital makes you a doctor.
Stop thinking in terms of left and right and start thinking in terms of right and wrong
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mickswann
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« Reply #27 on: July 08, 2008, 03:17:41 PM » |
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The problem is not all 401k funds offer a precious metals fund.
I'd steer clear of funds and commodities bonds and focus on specie or a direct specie linked account. Gold holds well, especially in relation to inflation. |
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'The great and mighty only appear so because we are on our knees. Let us rise.' -James Connolly
"I hate to be the bearer of sad news, there Mick, but most who pound those subjects, are not among ourselves, much as you, my slithering friend, are not one of ourselves." - JT Coyote
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mickswann
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« Reply #28 on: July 08, 2008, 03:20:08 PM » |
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Sure we do! It is called "Social Security", and it taken from you whether you want it or not, and it will not be there for you when you need it.
Unless you reclaim control of your Cestui qui trust. |
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'The great and mighty only appear so because we are on our knees. Let us rise.' -James Connolly
"I hate to be the bearer of sad news, there Mick, but most who pound those subjects, are not among ourselves, much as you, my slithering friend, are not one of ourselves." - JT Coyote
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