<<I think the real risk is keeping your money in a 401(k). People with significant savings in these accounts are like sheep getting constantly sheared by Wall Street.>>
And B I N G O was his name-o. I am not one who gets kicks by playing it safe. I have been and will continue to be gainfully employed with several talents paying well. To me it was obvious enough that this was the smart and sound move, but what the hell do I know (seriously), but I am gonna have some fun.
TN
Au contraire. As I mentioned, I exited my retirement accounts in 2008 and never regreted it. And let me state for the record that I am VERY risk-averse. The risk is in being oblivious to what's happening. Don't get me wrong, there may come a time when the paper markets earn back their integrity, but that is not now.
It's been a game for some time now, but the rules weren't quite so obvious. Now they are obvious. The only way to not get hammered is to NOT PLAY. I agree with Ann Barnhardt.
Regarding platinum, roadrunner is probably right - I have not had a problem with liquidity when selling platinum, but the likelihood is that liquidity may be an issue at some point. Still, I can't help myself when it comes to platinum. Oh well.
Regarding guns, I do think that some high quality, well-designed firearms are not a bad choice for a portion of a portfolio. They are always sought, and seem to hold their value as well as good coins. (Plus, they shoot!)
Regarding Modern Collector Bullion, I agree that the only way to go is direct from the Mint at first issue. It's very engaging to track the Mint's antics and to wait it out until you think you are looking at a winner. This year gave us a few good ones. Some years give us nothing, but it pays to stay in that game. 2006 and 2008 were awesome.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>Wow...thats a bold move Texas. I think I would have tried this with the smaller of the two 401ks. JMO >>
FWIW he said that he had no option other than cashing it out. Apparently he could not transfer it to the new 401k or roll it over into an IRA. >>
Yeah, I was confused when I read that he had no choice, but he started the thread with "doing it because he was scared enough". (1st line of the first post). Also, 401Ks are transferable. Either way, Im not saying what he did was a bad move, Its just my opinion that making such big decisions like that out of fear, I would have tested the waters with the smaller one first. But what do I know? Im not much of a risk taker. Any 31 year old who has that much saved for retirement already must be doing something right.
<< <i>Zero surprises by the replies. A consistent group we have here. MJ >>
Thats why no comments from me. Ooops, did I just make a comment?
I'll just say, Good Luck! >>
He's going to need it. >>
When you look at the decay of the dollar over time, is it really smart to have long term investments tied to typical 401/IRA investments? A 10% account gain when the dollar looses 10% purchasing power over the same period of time means you are right where you started and after you pay taxes on the gain upon withdrawal, you are in the hole. Twice as many dollars at the end of the year is not really a good thing if the dollar is worth less than half of what it was at the beginning of the year, especially if you owe taxes on all the dollars gained. PMs are the anti-dollar investment. Good move TN in protecting the value of your savings.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>When you look at the decay of the dollar over time, is it really smart to have long term investments tied to typical 401/IRA investments? A 10% account gain when the dollar looses 10% purchasing power over the same period of time means you are right where you started and after you pay taxes on the gain upon withdrawal, you are in the hole. Twice as many dollars at the end of the year is not really a good thing if the dollar is worth less than half of what it was at the beginning of the year, especially if you owe taxes on all the dollars gained. PMs are the anti-dollar investment. Good move TN in protecting the value of your savings. >>
That is one the most educational true statements I've seen on these boards.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
You have such a long time until retirement, do you think that the stock market won't recover in the next 30 years? How much for a nice hunting camp in Texas???
I am looking in the Bracketville/Del Rio area right now for some land. I know several Texasnites reside on these boards and would love to hear of other areas where the hog gettin is good and the dove and deer dig it! I think DerryB said it perfectly, I have a huge fear of inflation. Remember now I still got me some beans and corn in the market with my other investments not to mention a sizable collection of dreck that some find decent. Now if it all goes bad for me then I will be living in Mesquites garage, but he seems like a nice enough guy.
<< <i>Zero surprises by the replies. A consistent group we have here. MJ >>
Thats why no comments from me. Ooops, did I just make a comment?
I'll just say, Good Luck! >>
He's going to need it. >>
When you look at the decay of the dollar over time, is it really smart to have long term investments tied to typical 401/IRA investments? A 10% account gain when the dollar looses 10% purchasing power over the same period of time means you are right where you started and after you pay taxes on the gain upon withdrawal, you are in the hole. Twice as many dollars at the end of the year is not really a good thing if the dollar is worth less than half of what it was at the beginning of the year, especially if you owe taxes on all the dollars gained. PMs are the anti-dollar investment. Good move TN in protecting the value of your savings. >>
The assumption is that PMs will always go higher if the dollar declines. While that is generally true, there is no guarantee---that the dollar will go lower or that PMs will appreciate.
While that is true, it is also true that the dollar is headed to zero eventually like all other fiat currencies in world history. What's the score so far?
Something like 3,000 failed to date......and 0 lasted more than a few decades or approx 100-120 hrs?
<< <i>When you look at the decay of the dollar over time, is it really smart to have long term investments tied to typical 401/IRA investments? A 10% account gain when the dollar looses 10% purchasing power over the same period of time means you are right where you started and after you pay taxes on the gain upon withdrawal, you are in the hole. Twice as many dollars at the end of the year is not really a good thing if the dollar is worth less than half of what it was at the beginning of the year, especially if you owe taxes on all the dollars gained. PMs are the anti-dollar investment. Good move TN in protecting the value of your savings. >>
<< <i>The assumption is that PMs will always go higher if the dollar declines. While that is generally true, there is no guarantee---that the dollar will go lower or that PMs will appreciate. >>
The assumption is that PMs will retain purchasing power that is lost with a declining dollar. PMs do not carry the liability of paper money. To the protector of wealth it's really not about appreciation, it's about preserving value of one's holdings. Any appreciation realized is icing on the cake.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Bracketville/Del Rio area. Where is that located in Texas. TexasNationals at your age and what you have accummulated is quite amazing. You're doing something right! Have confidence in your next decision because it appears your past decisions have been good.
TexasNationals, PM me if you wish, I'm interested in your "move" to Del Rio/Bracketville. I may be ready to make a similar "move" and our input could be beneficial to both.
Bracketville and Del Rio are near the Mexico border in southwest Texas. About 2 hours west of San Antonio. Kuch I do have cash also, enough for what I would need it for. TN
I noticed the OP came back and it reminded me of this thread, I always thought this was one of the most extreme investment threads, that ever graced this board. and that's saying something.
<< <i>I noticed the OP came back and it reminded me of this thread, I always thought this was one of the most extreme investment threads, that ever graced this board. and that's saying something. >>
It's also has got to be one of the least "successful" controversial moves to date. The only one who made out in this deal was Uncle S at tax time. BTW, you can add MGL shortening of BA to that list.
revised to add the A in BA
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>I noticed the OP came back and it reminded me of this thread, I always thought this was one of the most extreme investment threads, that ever graced this board. and that's saying something. >>
Didn't TN and POM have a shoot out at the OK Corral over some contest or am I dreaming that?
MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Tried to follow and was a bunch of suggestions, confusion and no clear ending. What'd I miss? Without clear details, I'd never cash in a 401 prematurely.
Interested in higher grade vintage cards. Aren't we all.
<< <i>I noticed the OP came back and it reminded me of this thread, I always thought this was one of the most extreme investment threads, that ever graced this board. and that's saying something. >>
Didn't TN and POM have a shoot out at the OK Corral over some contest or am I dreaming that?
Comments
And B I N G O was his name-o. I am not one who gets kicks by playing it safe. I have been and will continue to be gainfully employed with several talents paying well. To me it was obvious enough that this was the smart and sound move, but what the hell do I know (seriously), but I am gonna have some fun.
TN
Au contraire. As I mentioned, I exited my retirement accounts in 2008 and never regreted it. And let me state for the record that I am VERY risk-averse. The risk is in being oblivious to what's happening. Don't get me wrong, there may come a time when the paper markets earn back their integrity, but that is not now.
It's been a game for some time now, but the rules weren't quite so obvious. Now they are obvious. The only way to not get hammered is to NOT PLAY. I agree with Ann Barnhardt.
Regarding platinum, roadrunner is probably right - I have not had a problem with liquidity when selling platinum, but the likelihood is that liquidity may be an issue at some point. Still, I can't help myself when it comes to platinum. Oh well.
Regarding guns, I do think that some high quality, well-designed firearms are not a bad choice for a portion of a portfolio. They are always sought, and seem to hold their value as well as good coins. (Plus, they shoot!)
Regarding Modern Collector Bullion, I agree that the only way to go is direct from the Mint at first issue. It's very engaging to track the Mint's antics and to wait it out until you think you are looking at a winner. This year gave us a few good ones. Some years give us nothing, but it pays to stay in that game. 2006 and 2008 were awesome.
I knew it would happen.
<< <i>
<< <i>Wow...thats a bold move Texas. I think I would have tried this with the smaller of the two 401ks. JMO >>
FWIW he said that he had no option other than cashing it out. Apparently he could not transfer it to the new 401k or roll it over into an IRA. >>
Yeah, I was confused when I read that he had no choice, but he started the thread with "doing it because he was scared enough". (1st line of the first post). Also, 401Ks are transferable. Either way, Im not saying what he did was a bad move, Its just my opinion that making such big decisions like that out of fear, I would have tested the waters with the smaller one first. But what do I know? Im not much of a risk taker.
Any 31 year old who has that much saved for retirement already must be doing something right.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
No need to say that to TN.
–John Adams, 1826
No need to say that to TN.
Gasoline, meet Fire.
I knew it would happen.
<< <i>Zero surprises by the replies. A consistent group we have here. MJ >>
Thats why no comments from me. Ooops, did I just make a comment?
I'll just say, Good Luck!
Knowledge is the enemy of fear
<< <i>
<< <i>Zero surprises by the replies. A consistent group we have here. MJ >>
Thats why no comments from me. Ooops, did I just make a comment?
I'll just say, Good Luck! >>
He's going to need it.
<< <i>
<< <i>
<< <i>Zero surprises by the replies. A consistent group we have here. MJ >>
Thats why no comments from me. Ooops, did I just make a comment?
I'll just say, Good Luck! >>
He's going to need it. >>
When you look at the decay of the dollar over time, is it really smart to have long term investments tied to typical 401/IRA investments? A 10% account gain when the dollar looses 10% purchasing power over the same period of time means you are right where you started and after you pay taxes on the gain upon withdrawal, you are in the hole. Twice as many dollars at the end of the year is not really a good thing if the dollar is worth less than half of what it was at the beginning of the year, especially if you owe taxes on all the dollars gained. PMs are the anti-dollar investment. Good move TN in protecting the value of your savings.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>When you look at the decay of the dollar over time, is it really smart to have long term investments tied to typical 401/IRA investments? A 10% account gain when the dollar looses 10% purchasing power over the same period of time means you are right where you started and after you pay taxes on the gain upon withdrawal, you are in the hole. Twice as many dollars at the end of the year is not really a good thing if the dollar is worth less than half of what it was at the beginning of the year, especially if you owe taxes on all the dollars gained. PMs are the anti-dollar investment. Good move TN in protecting the value of your savings. >>
That is one the most educational true statements I've seen on these boards.
Too many positive BST transactions with too many members to list.
<< <i>
<< <i>
<< <i>
<< <i>Zero surprises by the replies. A consistent group we have here. MJ >>
Thats why no comments from me. Ooops, did I just make a comment?
I'll just say, Good Luck! >>
He's going to need it. >>
When you look at the decay of the dollar over time, is it really smart to have long term investments tied to typical 401/IRA investments? A 10% account gain when the dollar looses 10% purchasing power over the same period of time means you are right where you started and after you pay taxes on the gain upon withdrawal, you are in the hole. Twice as many dollars at the end of the year is not really a good thing if the dollar is worth less than half of what it was at the beginning of the year, especially if you owe taxes on all the dollars gained. PMs are the anti-dollar investment. Good move TN in protecting the value of your savings. >>
The assumption is that PMs will always go higher if the dollar declines. While that is generally true, there is no guarantee---that the dollar will go lower or that PMs will appreciate.
Knowledge is the enemy of fear
Something like 3,000 failed to date......and 0 lasted more than a few decades or approx 100-120 hrs?
<< <i>When you look at the decay of the dollar over time, is it really smart to have long term investments tied to typical 401/IRA investments? A 10% account gain when the dollar looses 10% purchasing power over the same period of time means you are right where you started and after you pay taxes on the gain upon withdrawal, you are in the hole. Twice as many dollars at the end of the year is not really a good thing if the dollar is worth less than half of what it was at the beginning of the year, especially if you owe taxes on all the dollars gained. PMs are the anti-dollar investment. Good move TN in protecting the value of your savings. >>
<< <i>The assumption is that PMs will always go higher if the dollar declines. While that is generally true, there is no guarantee---that the dollar will go lower or that PMs will appreciate. >>
The assumption is that PMs will retain purchasing power that is lost with a declining dollar. PMs do not carry the liability of paper money. To the protector of wealth it's really not about appreciation, it's about preserving value of one's holdings. Any appreciation realized is icing on the cake.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Got Cash?
In God We Trust.... all others pay in Gold and Silver!
West Texas
In God We Trust.... all others pay in Gold and Silver!
What? Well, OK, but you buy your own ammo. And, you have to agree to teach me how to field dress a deer.
–John Adams, 1826
and that's saying something.
<< <i>I noticed the OP came back and it reminded me of this thread, I always thought this was one of the most extreme investment threads, that ever graced this board.
and that's saying something. >>
It's also has got to be one of the least "successful" controversial moves to date. The only one who made out in this deal was Uncle S at tax time. BTW, you can add MGL shortening of BA to that list.
revised to add the A in BA
<< <i>I noticed the OP came back and it reminded me of this thread, I always thought this was one of the most extreme investment threads, that ever graced this board.
and that's saying something. >>
Didn't TN and POM have a shoot out at the OK Corral over some contest or am I dreaming that?
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Tried to follow and was a bunch of suggestions, confusion and no clear ending.
What'd I miss?
Without clear details, I'd never cash in a 401 prematurely.
<< <i>
<< <i>I noticed the OP came back and it reminded me of this thread, I always thought this was one of the most extreme investment threads, that ever graced this board.
and that's saying something. >>
Didn't TN and POM have a shoot out at the OK Corral over some contest or am I dreaming that?
MJ >>
Yes they did