I was simply posting to a Q post which may be relevant to the question. No one truely knows what is going to happen, except for a select few.
In my opinion it would be unlikely that the plan would involve destroying the hard earned savings of middle class Americans. If assets of the elite are being seized we are talking trillions of dollars which could be returned to the people.
As with all investing, diversifying is key, if all your wealth is in 401k now would probably not be a bad time to divest some and get some physical gold.
historically-stock market down =silver and gold up usually as a hedge against the falling dollar. I am heavy silver because I think it has more room to run. Been stacking since 2008. for in depth analysis i suggest, and no I am not affiliated in any way, I just like the guys analysis get on his email list franklin sanders the-moneychanger.com
I wouldn't change anything. I know people who thought trump would make the stock market unstable and they cashed in their 401k to buy physical gold and it ended up being a horrible decision.
Looking at the past 3 year chart the price of gold had a steady increase of ~40% over the first 2.5 years, and remained pretty steady the past 6 months. The "people you know" must have bought within that time period. This suggests at worst they have not made anything, and at best they have made ~16% per year (much better than the 3-8% of an average 401k).
Having said that, some big changes are likely to happen in the near future which will increase the value of precious metals, regardless of who is really in charge of what. Even if that is not true, gold is not likely to become substantially devalued in the short or long term.
There is no data or projection that matches your claim.
Disclosure : I have no finance education or experience. I do not have a 401k
I think that is a question for yourself, your signifigant other and a CPA.
Do you want to keep playing in the game? Or do you want to change it up and stop playing?
https://qposts.online/post/2619
So buying physical gold? What about gold funds? Do we need to cash out 401k? How about silver?
I was simply posting to a Q post which may be relevant to the question. No one truely knows what is going to happen, except for a select few.
In my opinion it would be unlikely that the plan would involve destroying the hard earned savings of middle class Americans. If assets of the elite are being seized we are talking trillions of dollars which could be returned to the people.
As with all investing, diversifying is key, if all your wealth is in 401k now would probably not be a bad time to divest some and get some physical gold.
I have this same question
historically-stock market down =silver and gold up usually as a hedge against the falling dollar. I am heavy silver because I think it has more room to run. Been stacking since 2008. for in depth analysis i suggest, and no I am not affiliated in any way, I just like the guys analysis get on his email list franklin sanders the-moneychanger.com
I wouldn't change anything. I know people who thought trump would make the stock market unstable and they cashed in their 401k to buy physical gold and it ended up being a horrible decision.
Looking at the past 3 year chart the price of gold had a steady increase of ~40% over the first 2.5 years, and remained pretty steady the past 6 months. The "people you know" must have bought within that time period. This suggests at worst they have not made anything, and at best they have made ~16% per year (much better than the 3-8% of an average 401k).
Having said that, some big changes are likely to happen in the near future which will increase the value of precious metals, regardless of who is really in charge of what. Even if that is not true, gold is not likely to become substantially devalued in the short or long term.
There is no data or projection that matches your claim.
You're probably right and I'm misremembering. They may have just sat on cash for a while before buying gold index.
Cashed out my 401k. Buying gold and silver.