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Hossfly

Need financial guru advice

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There is talk (again) of the federal govt nationalizing 401k accounts. I'm just wondering what everybody here might think and your opinions on whether or not that money should be removed, the taxes/penalties paid and the money be reinvested in gold,brass,lead,etc...

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i agree wally. never go to the brick maker for advice on finances, go to the finance man.

read the book Richest man in Babylon there Hoss. its a simple read you can give to the youngest lady in the family and she

can and will lean something major from it too. you will not put this book down until its done i promise you.

yes the story is that good. its the #1 financial read of all time.

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i do warn you, the first 2 chapters will bore you a slight bit. then something will click in your head

and you will suddenly be in a different mindset as you just picked up on something important.

then back to the begining again, and off you will go. lol

i read that book back to back 2 times in the same week. man i love that book. my fav book probably.

somewhere in the middle you will find your head in your hands wondering "why the hell didnt i get this yrs ago"

meaning the concept of the book. its so easy a child can get it and do it.

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Turns out that I am unable to withdraw my 401k funds under the plan I'm in. So if/when the fed takes em over, I'm screwed out of it. Back to plan B..... Powerball. LOL

 

Can you transfer it to an account that deals with silver! Silver can be used for your 401k accounts..and with that said ..sell the silver/trade for paper money/or keep the silver!.

JMO..I dont have a 401k and I do not keep any cash(over 500) in a Bank account,That,s what saftey deposit boxe's are for ..JMO..

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I think I can, but I have to call them and arrange it. The rules are broken down in "lawyer speak" which makes about as much sense as listening to my butt whistle. I'm not so much worried about the 401k in particular, but just the fact that our new monarchy may decide to claim private property and replace the Bill of Rights with Roosevelt's version, ie- Freedom from want, hunger,etc... What the govt can give, the govt can take away.. Know what I mean?

Sometimes I wish I was still blind.

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It does not matter either way if money becomes worthless it does not matter if it is in an account or under your mattress

non bullion based buying of any metal is worthless because there are more silver accounts than silver in circulation so your out of luck.

and just a heads up there are certain things you cannot have in a safety deposit box and we talk about one here all the time and we

are posting about the other now....

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Make no mistake gs (and Nana), if I can get that money out, it won't be kept in monetary form. Pay off some debt, stock up on a LOT more supplies, and I know of this nice little place for a "huntin' camp" out in the middle of nowhere.

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Make no mistake gs (and Nana), if I can get that money out, it won't be kept in monetary form. Pay off some debt, stock up on a LOT more supplies, and I know of this nice little place for a "huntin' camp" out in the middle of nowhere.

 

That would realy be a 'Retirement account;..Land and a cabin..fruit trees/wild game..worth more than Money.

JMO

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There is talk (again) of the federal govt nationalizing 401k accounts. I'm just wondering what everybody here might think and your opinions on whether or not that money should be removed, the taxes/penalties paid and the money be reinvested in gold,brass,lead,etc...

 

This past year ive spent alot of time talking to investment brokers types.. after my father passed away. And because my job, i associate with these guys alot. Anyhow, managing my 401k, i elected to leave those funds invested, but moved it all into Gold & Silver ETFs and Mutual Funds, Commodities, Agriculture and Alternative Energy.

my Roth IRA is set up in a similar fashion.

But the only reason I left those funds in the 401k is because I have other financial resources available to me... thx to my father.

 

All the 'advice' ive gotten from the brokers i communicate with , for the past year, have been telling me to 'get out of the dollar' and to expect a collapse... soon. Even when setting across the table from a broker who was trying to sell me on some Mutual Funds, he couldnt hardly look me in the eye.

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"

All the 'advice' ive gotten from the brokers i communicate with , for the past year, have been telling me to 'get out of the dollar' and to expect a collapse... soon. Even when setting across the table from a broker who was trying to sell me on some Mutual Funds, he couldnt hardly look me in the eye. "

 

and we continue to go on like "Nothing is going to happen'..'so what do we do? stock up on food and water and ammo?Pray for the best?

 

Im at a loss myself and taking it day by day,ready to do what ever it takes at the last minute.

JMO

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101Matt,

Financial guru types like to say there is money to be made from a fincancial collapse. THe trick is finding those 'holes' to invest in. Which really means finding things that will increase in value AFTER the event

 

As mentioned by the original post, there is a concern about what to do with 401K funds. Available 401k options vary greatly from company to company.

A tip on how to research each and every 401k option available to you, is simply go to ScottTrade.com homepage and do a search for the fund Symbol. you dont need an account to do your searchs. You can pull up 5 year charts for pretty much anything. As i was researching my own 401k, I noticed that after the 2008-09 collapse, nearly all these 401k fund have regained what they lost. Many of them lost everything in only a few months, and has taken 4+ years to regain thier value. Now the question is.. Now that the value has been 'reset' whats to keep it from falling again ? TO me its like a over stretched spring. Eventually its not going to 'spring' back.

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Go invest a $100 in an hour of your tax accountant's/financial advisers time. With all the new rules/changes/what ifs we went to ours about what to do next year. It is well worth the investment of your time and money to have your finances set up to optimize your finances for your goals. Financial survival is just as important as having enough ammo in the right situations.

 

Just my not so humble opinion but I did put my money where my mouth is on this one.

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Hello. I just joined this forum, but I am sure I can help. It is true that there is discussion about nationalizing retirement savings here in the US. It is also true that you can, if you do it right, get your money in your own hands without paying a huge tax and penalty bill. I know how to do it. Let me know if you need some help with it. I am glad to help out.

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