yep. 2 years ago. paid penalties and Taxes and bought all hard assets. 401K and a Simple IRA cashed out both. Wife completely on board.
"hard assets" as in percisious metals? stockpiles of food? daily items to trade with ???
yep. 2 years ago. paid penalties and Taxes and bought all hard assets. 401K and a Simple IRA cashed out both. Wife completely on board.
They are stealing it right now by printing endless money. We'll be lucky to be able to buy a box of Lucky Charms with our entire account by the time most of us retire.
I disagree. It depends on how your 401k is invested. Assuming they don't confiscate it, and it's primarily invested in stock, it will appreciate along with inflation.
I disagree. It depends on how your 401k is invested. Assuming they don't confiscate it, and it's primarily invested in stock, it will appreciate along with inflation.
The stock market isnt real anyways, and the ONLY reason its at where it is today is because the federal gov't has pumped hundreds of billions of dollars into it, propping it up making it look as though the economy is recovering, when the reality is that volume in the market is at its lowest, fewer people are actually investing their money than ever before. Here's the scary part, what if you just save your money in your matress? in the future that money will be worth nothing so there's no point, ok so invest in gold right? gold doesnt buy food if you cant get that gold, so actually having physical gold or silver on hand would be good bout how will you store it? In a safety deposit box(i know people doing this)? Even then if the gov't takes over banks they have control of it unless you get it out and put it at your home, and if its a SHTF scenerio, your home is most likely not the place you wanna be(if you live in a big city of course). And since you are forced to pay property tax on land, the ultimate end game would be the gov't taking your house even if its paid off. who knows when this will happen but its all steadily heading this way and seems like its getting closer. ideal situation would be living in montana on a thousand acre ranch with livestock and gardens, maybe i'll save up and move!
Only in America do we reward the stupid and lazy by forcing the responsible citizens to pay them.
Along the lines of this topic, has anyone here gone through with cashing out a retirement account to get what you can out of it before this comes along?
They are stealing it right now by printing endless money. We'll be lucky to be able to buy a box of Lucky Charms with our entire account by the time most of us retire.
They want to try to cut into our railroad retirement. Been throwing the idea around for years too bad if they did because it would be flat out stealing.
Along the lines of this topic, has anyone here gone through with cashing out a retirement account to get what you can out of it before this comes along?
Maybe a threat of nationwide strike which would cripple the economy for years to come would make them think twice.