Posted on 11/10/2010 6:46:41 AM PST by CaptainKip
Soliciting opinions on if we're getting close enough to the time to take the penalty and tax hits and cash out my 401(K) at work to get whatever cash is left in my hand.
I would put half in gold, half in foreclosures and the other half in food and supplies (ammo, toilet paper, canned good, medical supplies, gasoline)
The the remaining in a storage and survival bunker
Wait and see what the lame duck congress does on Bush Tax Cuts. You should know around first week in December.
You did not provide enough information.
In general, do not cash out your 401 until you can do so without penalty.
This money is for the future, not the here and now.
And depending on the size of your 401K and you’re age about 35 percent or more to the gov’t. Remember too, the amount you cash out is added to any income you make the year you cash out which will raise your rate on your regular salary.
I’m out! It’s in MY grubby hands now! The gubermint can’t touch it!
Remember one thing: it's all a fraud.
They will pump up the stock market again. You're balance will look good, it's just that the dollars will be worthless, and that will be the case no matter where you put it.
If you’re worried about a market crash, most 401k plans have more conservative investment options to move into, but it depends on the plan.
If you’re more concerned about a government raid of retirement accounts, I am a bit more confident that the new freshmen in the House won’t let that happen unless it’s done in a lame-duck session.
need age, region and other information. Cash Flow is what is needed for my investments.
I think the only reason I would consider doing something like that would be to pay off my house.
http://www.tsptalk.com/funds.html
Even with inflation looming, preserving even 80% of yr capital capital is probably better than facing another sudden big stock/bond crash
Is your 401K in a fund where you can move funds around quickly and on your own decisions? If not, rollover to one that you monitor and manage hands-on, do not depend on (an pay fees to) “money managers” unless they protected you in 2008. Ours did nothing but watch the sleigh go down the track.
If lame duck congress doesn't extend current tax code by December recess, then run the numbers to see if it makes sense to cash out by Dec 31, or stick it out in cash for several years ahead
Pay attention to managing your debt and paying it off- that is extra income in your pocket the govt can't touch
Thought bonds were safe...LOL They sort of took a hit yesterday.
Only if you are planning on leaving the country for good.
You mean there are benefits to being over 59 1/2?
Roll it into an IRA. An IRA lets you put it into anything. Not only that, you should then transfer it all into a Roth. There’s a new rule that will delay the taxes for this year only. Then put it into a Silver Fund. I did this back in January and don’t regret it a bit.
If you’re still working at the employer, you can’t rollover the 401k.
Buy high, sell low. That’s what most retail investors do.
Never did a 401k because I do not trust the government.
Too much money out there causing temptation for the Federal government to confiscate...same with gold.
Stuck my money in bar and liquor stocks...people will drink regardless.
Wondering when/if the government will nationalize 401(k)? I am.
I am not going that direction, but if I was going to I would look at investing in ag property with water.
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