401K planing ?????

Discussion in 'Money, Investing & Precious Metals' started by firemanjim478, Aug 30, 2010.

  1. firemanjim478

    firemanjim478 New Member

    Hello, This is my first posting and I hope I picked the right topic forum. Personaly I do not think 401k plans will make a come back in time for my retirement, I am 48 years old. I want to ask the viewers of this site what they feel is the safest funds to to be in? I will loose my butt if I take it all out so my thinking isto leave it all in the 401k but move it to a safe fund. I am with fidelity 401k. Does anybody have any input on this matter? My family and I are getting ready for the mess that is comming, I just do not know what would be the best thing to do with my retirement money.
  2. The_Blob

    The_Blob performing monkey

    ouch, that's NOT a lot of time... jk

    I personally like to pick my individual investments (I recently did VERY well with Ford & NOBODY took my advice :( )

    all I can tell you is what I am currently doing, and that is taking full advantage of the scare tactics being used in the MSM and investing in all-time-low Gulf-based businesses

    there is a LOT of good advice out there, but I keep mine as simple as possible (don't have the headware memory for financial stuff with all the science, medical & prepping stuff clogging up those glial cells ;) )

  3. GroovyMike

    GroovyMike Well-Known Member

    I quit putting money into Fidelity a few years ago, they just seemed to be tanking. So I agree with your assessment. All I can offer for advice is what I have seen in my own limited experience - emerging markets can grow very fast, but also lose fast. Bond funds seem to plug along earning 2% - 5% regularly. They are not stars, but while my stock funds tanked, my bonds just kept plugging along. You are wise to not pull it out of retirment accounts early as there are significant penalties for doing so. Good luck!
  4. longtime

    longtime Well-Known Member

    Hi Firemanjim478,

    I am the optimist of the group.

    Do you have the rest of your finances in order? If so, not only would I keep my 401K, I would be adding to the account while its cheap. By taking advantage of other peoples fears, I have made a lot of money over the years. While you should prepaid for the end of the world ( I have) you should keep in mind that nothing might happen and prepare for that also.
  5. greaseman

    greaseman Well-Known Member

    Interesting thread. I'm like a lot of other people. I have a 401k that I intended to live on for the rest of my life. But here's the problem. The governenment is making plans to seize control of everyones 401k. The financial advisory people have brainwashed everyone , and convinced everyone that they must keep their funds invested in the stock market, even after everyone (me included) over the years loses significant ammount of saved money, sometimes over and over.
    So, are you better off just keeping the money out of a 401k, and doing something else with it? Here's what I have been doing. I'm not a financial advisor, but I started doing the math on my own. Over the last year, I've been removing chunks of my 401k every couple months. I'm retired, so the removed funds only count as income, no penalties. I've been buying precious metals steady, month by month. I figured if gold and silver have been around for 5000 years as a store of wealth, they aren't going away any time soon. Simple, direct, unemotional, logic.
    Everyone is scared of penalties, but if you lose control of your own money, and are forced to buy worthless government treasury notes with your own money, what's the point of having a 401K?? My opinion is take the loses, and buy some precious metals. We are in a historic period of time as we won't see silver or gold at these prices again for a long time. I didn't buy gold and silver as an investment, I bought them as asset protection, and they are performing splendidly.
    Everyone must realize that the system is rigged to take your money. The financial advisors get paid whether you make money or not. Yes, you can make money in the stock market if your're smart enough to swim with the sharks. I'm not. They have bitten me every time I swam with them. How many times do I have to get hit over the head before I seperate myself from these people??
    Here's another example. My wife is still working. After 5 years of absolutely no gains in her 401K balance through very conservative investments, I had her stop contributing. What's the point?? At least now, we can spend this highly inflated money before it disapears. And your money is disappearing through inflation as fast as you can save it. So, money saved through these 401K's is sadly going to be eaten away by inflation in massive ammounts. again, what's the point?? I chose to buy supplies, precious metals, weapons, ammo, long term food, and things that have real value., now.
    In my opinion, people need to start thinking for themselves. Look around you. Do you really believe that all that money you're saving in a 401K is going to lie untouched, un seized, un taxed, till you're ready to use it?/ There's no way that's going happen. Our government is past broke. There are trillions in private 401k's, and the government wants that money. They will use the carrot and a stick method at first, and then, force you to comply. theonly way to beat them, is to seperate yourself from their rigged system. Buy things that have value now, and will have value in the future. This is the way you save real money.
    Have agreat day, and go out there and buy some precious metals, it'll make you feel better.
  6. GroovyMike

    GroovyMike Well-Known Member


    This is exactly right. I just upped my retirement saving contribution. For me it goes into a half dozen mutual funds and a pair of bond funds. I hope to draw me pension and Social Security, but I'm not counting on either one - so I am also investing for my retirement as noted above. I'm paying off all my debts (nothing left but a small mortgage). Beyond that I am investing in tangible assets like reloading equipment, and tools that have value as well as resale value. I buy all my gear used so someone else takes the butt kicking on depreciation and I can sell it for more than I paid for it.

    I'm planning for the possibility of the end of the world as we know it, but I'm also planning for the possibility of another 50 years of business as usual.

    It is as the financial gurus say - wise to diversify your portfolio.
  7. greaseman

    greaseman Well-Known Member

    Hey guys. just a short note about my previous post about handling 401k"s. I urge everyone to do your own due digilence as to what I said. Don't believe anything I talked about. Check it out for yourself.
    Everybody's 401k will be toast very soon. Do some google searches on the subject, and you will find all the links and info you need to make an informed decision.
    Something else to think about. In serious times of economic upheavel, many people think they can just go down, get an emergency distribution from their 401k. if things such as a banking crisis are bad enough, the government will suspend trading on the market, thereby preventing anyone from cashing out their 401k's . The stock market has to be trading to process your funds.
    The government has all the angles figured out, and they are closing more and more loopholes daily. The only safe way to protect yourself is seperate yourself from their control. Stop thinking things are going to be remotely like they have been in past years. We are entering into unchartered waters, the only similar times being the 1930's. Look at the value of your dollar. Even if you can save money, inflation eats away at the value of the money before you have a chance to spend it down the road. Have you seen the price of groceries lately.
    Do your own thinking, and look at what's really going on, not what some financial advisor tells you is going to happen. The info is out there, research, and make your own decision. You don't have much time.
  8. spacestuff4me

    spacestuff4me Active Member

    Get your investments out of the US Dollar for long term

    I've been investing my wifes 401k money and as of 2009, I've told her to stop putting money into it because it's obvious that the stock market will take a huge dump in the next couple of years. I've done very well for her retirement acct, taking an investment of $40k initally, to todays value of just over $200k. Unfortunately most 401k programs limit the stocks you're able to invest in, which is the case in my wifes fund, so I've had to limit her exposure by putting her money into foreign funds.

    The US gov't (that means us the tax payers) currently owe to foreign debt holders & domestic obligations about $138 TRILLION dollars. We are paying the foreign holders of our debts (US Treasury Bonds) about $450,000,000,000 (BILLION dollars), just for our interest payments every year. Realize that interest rates are about 1% and basically we're printing free money, then paying this fiat (fake & money printed out of thin air) and selling it for real cash from China, Europe, India, Latin America and any other moron who'll buy US dollars. There is no way this country can afford to pay off our debts, let alone trying to pay off the principle loan and we will default on all of our loans, it's just a matter of time. Imagine what happens when the interest rates will jump up and it's a matter of a year or 2 before that happens and we will be paying TRILLIONS of dollars to foreign debt holders, just to cover our interest payments. We are in some seriously deep ****, but the talking heads on most news & financial channels would have you think that everything is in recovery and we'll be fine. This is the biggest pile of horsehit that we've ever been fed and the financial disaster that's coming, will destroy our way of life.

    Consider that the US gov't is borrowing from foreign debt holders and the Federal Reserve (see satan in the dictionary), .42 cents of every dollar it spends, just to keep the country running. We're spending $3 BILLION dollars every single day to keep gov't running and this is unsustainable and it will come to a catastrophic end for our economy.

    The US gov't will either default on our loans, cut all services, welfare, social security & entitlements, plus they'll end up destroying the value of the US dollar. Right now it's obvious that we're printing so much paper money that we are debasing our currency against all other countries. The only way we can pay back these loans will be to inflate our dollar, so we pay back these loans with worthless cash, but the problem with that is, we be paying double or triple for imported goods that are now very cheap.

    If you have money in a 401k, move your money to a well managed foreign based emerging markets fund, a China manufacturing fund, India medical & computer funds, Canada mining or natural resources fund and get your money out of the US dollar. Do your homework, research the massive amount of 401k funds out there, but make sure you don't keep your money in US dollars because you'll be a big loser long term.

    Obama just raised the amount of foreign aid to countries that hate us from $28 billion to almost $50 billion, with the majority of the new money going to muslim countries. Why in God's name would we double our foreign aid program and then give it away to muslims who are actively working for our destruction ?

    obamas plan is to overwhelm, bankrupt and eventually destroy the financial integrity of the US gov't and then he and his minnions can walk in and claim to be the savior of the US. Communists & socialists are running our gov't, they want to destroy everyone who creates & build things in this country by over taxing & regulating them and will eventually take over most of the industry still left here.

    I know many of you think in the abstract about the SHTF scenarios that will never occur, but this is one situation where you better prepare for some serious economic upheaval.
    Last edited: Nov 1, 2010
  9. greaseman

    greaseman Well-Known Member


    You hit all the right buttons with your post. I think you have it all exactly right. There is no matmatical way to pay back our national debt, and those thieving carpetbaggers in congress keep going along like everything is ok.
    One thing I'd like to point out about Osama, or leader. My opinion is, he is just a patsy, doing what he's told to do by the real bosses--that would be the bankers. They have us by the kahunes, and our spineless congress will do nothing but lay down and take it in the ___.
    Very soon I think, we will have some false flag event take place that will be the final nail in the coffin, that lets our government declare martial law. That will wake everyone up out of the fog their in. I continue to be amazed at just how stupid millions of people are, that can't see what's going on around them, and put an intelligent thought together, to figure out what's going on.
    As you mention in your last paragraph, we all better prep for some serious upheavel to come. We are in a free fall, and just haven't hit bottom yet. It's not the fall that gets you, it's the sudden stop.
  10. sailaway

    sailaway Well-Known Member

    I cashed my 401k out and invested in my own business.
  11. The_Blob

    The_Blob performing monkey

    congrats, the hit you took I'm sure will be overshadowed by the gains (and the control) you achieve
  12. GatorDude

    GatorDude Well-Known Member

    I wouldn't advise anyone to give up on their 401K. However, people might want to alter their mix towards more secure guaranteed investments and more international funds.

    If you're getting up in years, you want to be into the most stable funds available so that you preserve your principle and don't get screwed by a market tumble just before you need the money.

    While things might be really pessimistic in this country (the U.S.) right now, they aren't that way all over the world. In Brazil, Russia, India, and China, the middle classes have exploded in size as their economies have grown. People will still buy stuff and their will still be money to be made.
  13. SurviveNthrive

    SurviveNthrive a dude

    They'd hoped to keep power for many, many reasons.

    One mechanism they wanted to put in there is shocking. They wanted to put in a buffer period or penalty for selling after making gains.:eek: