I’m an uninformed investor. I’m 60, and have a 401k. What should I be looking at as shelter from the storm?
Tangible assets, precious metals etc.
In my case, I bought 32 acres, 2/3 wooded, in central KY and left Seattle in 2011. I absolutely love it here and produce eggs for all the people I work with. I’ll get some cattle if the need arises.
Buy gold! GOLD!!! Wealth you can hold in your hand, just ask William Devane!!
Food, shelter, and the means to produce and protect them.
>>I’m an uninformed investor. I’m 60, and have a 401k. What should I be looking at as shelter from the storm?<<
Do not get stampeded into gold or similar. Gold is a so-so hedge against inflation but does nothing re: the stick market, except fluctuate more wildly.
Stay diversified. If you are super nervous you can reallocate into more cash but that will not make much money.
People who stayed in the market after the crash of 2008 made almost all their money back by end of 2009. It was the nervous nellies who lost out on the almost immediate recovery.
Stay the course, look at long term trends and always have enough cash in bank to handle 4 to 6 months of expenses and you should be OK no matter what happens except maybe SHTF.
“I’m an uninformed investor. I’m 60, and have a 401k. What should I be looking at as shelter from the storm?”
Buy beans, bullets and Bibles.
Look into a self directed version of a retirement plan that allows you to invest in physical gold.
No, I am not going to tell you to move EVERYTHING in to physical metals. I AM going to suggest you move 5-10% into “hard assets.”
If the market falls 80%, that 10% in hard assets is going to go a long way to offsetting your loss, and provide you with some “value” insurance.
Don’t let anyone kid you about metals: if they go up as much as some people say they will, life will be horrible whether or not you own them. Gold and silver is insurance against inflation. It is not an “investment” per se.
VAIPX