keep your head about you. if it comes crashing we will need you. the left is pure evil. they will be the ones pointing blaming and stirring up the mob looking for scape goats.
i felt weird typing this out like it is larping but after what we have seen happen over the last few years it is hard to rule anything out.
been asking god a lot if he is seeing how crazy these people are...
I am always happy to help any other patriot out there. I will give periodic updates on crazy shit I am seeing in the market. Right now any oil stock is gold. Also I have been cashing out my account periodically to load up on gold and silver. Not paper gold or silver, but white you can actually hole in your hands.
So pede, if you don't mind. Let me ask you a question. I have a retirement account from my 5 years working for a state gov. It's valued at 33k right now before tax / penalty. If I leave it in until 62, which is 24 years from now, I'd get $380 a month until I die. After taxes and penalty, it is roughly 25k assuming a 22% tax rate. Furthermore, I did a calculation on the value of my potential 25k today and it's value in 24 years assuming a 3% inflation rate per year. That makes it like 91k. To make that much at at $380/mo.it would take 20 years. Do I pull it, use some on my house and some on silver or do I leave it. Just looking for another person who is financially savvy (sounds like you are) like I am. Thanks in advance.
Do you have other investment options? Interested in real estate like rentals?
In my area your $33k would buy a duplex rental valued at $160k. If you pick right it should afford you $750 a month in income after expenses and debt service or about $9k per year. So that is $180k over the same 20 years (plus an additional $160k minimum from debt pay down). My calculations do not include rent increases or inflation, both of which will be in your favor.
To answer your question; yes, get rid of the retirement plan immediately. They are a function of wall street for the sheep.
Real estate is really the key to financial freedom. Bought my first home instead of renting and saved roughly 2-300 per month in expenses
Unfortunately you have to play their game to get good credit, but if you have steady income and a 700 ish credit score, you can get a nice little house to start out in.
Then, either pay that off through work and invest in rental properties, or invest right away if your income is high enough.
In my personal opinion, you should start small and live in a smaller primary residence so that it's easy to pay off and you have a low payment.
Or if you want to really do something smart, buy a duplex and live in one of the units as your primary residence. House pays for itself and you can use that income to pay towards future investments
What do people in China / India / Russia etc do with their retirement? What countries are raising retirement age? How will monetary junky’s be impacted by demographic cliffs?
Basically the global monetary system is never ever going to see money become more robust.
Do the math.
Silver / metal are finite. They can’t debase physical wealth.
I invested in metal and inside of 15 years got a %700 interest payback.
The math is simple. Any country that has a monetary unit and can’t spend less than they make annually is going to debase their money.
Therefore if you save $1 you have to make 3% kn that dollar annually just to keep the value.
Inflation is rising now and projected for 2021 at %6 to even %9 in the US.
Most people will then see a %3 debasement.
You are literally best off ridding yourself of the USD and entrenching in any method of monetary existence that makes ~%5 a year.
With Evergrande many investors had investment accounts and expected a annual 15% - looking like that all defaulted. %30 of Chinese investment houses and their actual National GDP was based in real estate speculation. This literally means 2008 Lehman was never ever fixed and the world
Instead moved to making sure “China asshoe” and the CCP FULL TARDS the same problems into the global contagion.
With covid and all? You can play the casino side - my monetary plan is to not loose value. I’ve watched the crypto folks who thought crypto was safe now loose their shirts and more.
I am in Texas and quite literally you can buy bullion now with no state tax. On that premise alone I save 8% on purchase, physically hold, and Scrooge McDuck
If you cash out of your 401K before retirement you'll get hit with a penalized withdrawal fee of 10%. That goes on top of the marginal tax rate you pay now. So if 22%, 24%, 32%, etc., add another 10% gaffing from the IRS. What fuckers.
What has your yearly % increase/decrease been on funds in your 401K so far? A 3% rate going forward would mean your funds are barely working. At your age you should be seeing 9-15% or more. If 9% average over 24 years is $230K+ with no additional deposits -
In your position I would find a fee based financial advisor. You pay them for their advice, it's the only money they collect from you. You absolutely do not want an advisor that collects from investments they guide you to buy into. A fee-based one will review the funds your current 401K offers and help you decide how to reallocate what's in your 401K now. You could also throw darts at the funds available in your current 401K and do better.
If you have a mortage, is your current interest rate lower than 3.3%? That's the highest re-fi rate on a 30 year fixed mortgage, there are many tiers lower especially if you chop off years. We started out with a 30 year ARM, re-fi to 20 year fixed, re-fi again for 10 year fixed, house paid off 14 years from purchase. Each time we got a lower finance rate, paid extra on principal only, and got out from under the "pay for your house 3X with your after tax money" scam as quickly as we could. If you get rid of your monthly nut you'll have plenty to sink into other assets. So if you have not done a re-fi, consider it asap.
If you leave it in retirement, check for a precious metal mutual fund or option. If that is not available (like mine, T.Rowe Price) put in a “stable value” fund.
You can pull it, but will pay heavily in taxes in 2022. If you go this route you would want to invest in precious metals (physical gold or silver), but I would not advise to do it based off taxes alone.
Some retirements let you take loans out on your own money and you pay yourself interest and principal via monthly payment out of paycheck. Typically you can take half (tax free) and do what you want with it, but you do have to pay the amount back. If you took out the money, you could invest if you know what you’re doing in the stock market. If not, you could buy physical gold or silver online or at a pawn shop. You can always sell back as well. You could also buy crypto if you know that market, but something like Bitcoin or Ethereum would be safest.
Similar situation. If you can put it into PM mining and commidities. Thats what I did, and expect to profit as $$$ moves from shit paper to real assets. No penalty. Not a fin advisor.
keep your head about you. if it comes crashing we will need you. the left is pure evil. they will be the ones pointing blaming and stirring up the mob looking for scape goats.
i felt weird typing this out like it is larping but after what we have seen happen over the last few years it is hard to rule anything out.
been asking god a lot if he is seeing how crazy these people are...
I am always happy to help any other patriot out there. I will give periodic updates on crazy shit I am seeing in the market. Right now any oil stock is gold. Also I have been cashing out my account periodically to load up on gold and silver. Not paper gold or silver, but white you can actually hole in your hands.
So pede, if you don't mind. Let me ask you a question. I have a retirement account from my 5 years working for a state gov. It's valued at 33k right now before tax / penalty. If I leave it in until 62, which is 24 years from now, I'd get $380 a month until I die. After taxes and penalty, it is roughly 25k assuming a 22% tax rate. Furthermore, I did a calculation on the value of my potential 25k today and it's value in 24 years assuming a 3% inflation rate per year. That makes it like 91k. To make that much at at $380/mo.it would take 20 years. Do I pull it, use some on my house and some on silver or do I leave it. Just looking for another person who is financially savvy (sounds like you are) like I am. Thanks in advance.
Do you have other investment options? Interested in real estate like rentals? In my area your $33k would buy a duplex rental valued at $160k. If you pick right it should afford you $750 a month in income after expenses and debt service or about $9k per year. So that is $180k over the same 20 years (plus an additional $160k minimum from debt pay down). My calculations do not include rent increases or inflation, both of which will be in your favor. To answer your question; yes, get rid of the retirement plan immediately. They are a function of wall street for the sheep.
Real estate is really the key to financial freedom. Bought my first home instead of renting and saved roughly 2-300 per month in expenses
Unfortunately you have to play their game to get good credit, but if you have steady income and a 700 ish credit score, you can get a nice little house to start out in.
Then, either pay that off through work and invest in rental properties, or invest right away if your income is high enough.
In my personal opinion, you should start small and live in a smaller primary residence so that it's easy to pay off and you have a low payment.
Or if you want to really do something smart, buy a duplex and live in one of the units as your primary residence. House pays for itself and you can use that income to pay towards future investments
Penalties are waived because of COVID.
You can grab that money and layer it on your annual earnings and only pay the additional 2021 taxes.
CARES:
Edit: nevermind it expired in 2020 q4
https://www.nerdwallet.com/article/investing/cashing-out-401k-covid-19
The one thing I will Day is read the tailwinds.
What do people in China / India / Russia etc do with their retirement? What countries are raising retirement age? How will monetary junky’s be impacted by demographic cliffs?
Basically the global monetary system is never ever going to see money become more robust.
Do the math.
Silver / metal are finite. They can’t debase physical wealth.
I invested in metal and inside of 15 years got a %700 interest payback.
The math is simple. Any country that has a monetary unit and can’t spend less than they make annually is going to debase their money.
Therefore if you save $1 you have to make 3% kn that dollar annually just to keep the value.
Inflation is rising now and projected for 2021 at %6 to even %9 in the US.
Most people will then see a %3 debasement.
You are literally best off ridding yourself of the USD and entrenching in any method of monetary existence that makes ~%5 a year.
With Evergrande many investors had investment accounts and expected a annual 15% - looking like that all defaulted. %30 of Chinese investment houses and their actual National GDP was based in real estate speculation. This literally means 2008 Lehman was never ever fixed and the world Instead moved to making sure “China asshoe” and the CCP FULL TARDS the same problems into the global contagion.
With covid and all? You can play the casino side - my monetary plan is to not loose value. I’ve watched the crypto folks who thought crypto was safe now loose their shirts and more.
My boys stacking gold etc are sound. As always
https://files.catbox.moe/8vj48r.png
I am in Texas and quite literally you can buy bullion now with no state tax. On that premise alone I save 8% on purchase, physically hold, and Scrooge McDuck
If you cash out of your 401K before retirement you'll get hit with a penalized withdrawal fee of 10%. That goes on top of the marginal tax rate you pay now. So if 22%, 24%, 32%, etc., add another 10% gaffing from the IRS. What fuckers.
What has your yearly % increase/decrease been on funds in your 401K so far? A 3% rate going forward would mean your funds are barely working. At your age you should be seeing 9-15% or more. If 9% average over 24 years is $230K+ with no additional deposits -
https://www.dollartimes.com/savings/
In your position I would find a fee based financial advisor. You pay them for their advice, it's the only money they collect from you. You absolutely do not want an advisor that collects from investments they guide you to buy into. A fee-based one will review the funds your current 401K offers and help you decide how to reallocate what's in your 401K now. You could also throw darts at the funds available in your current 401K and do better.
If you have a mortage, is your current interest rate lower than 3.3%? That's the highest re-fi rate on a 30 year fixed mortgage, there are many tiers lower especially if you chop off years. We started out with a 30 year ARM, re-fi to 20 year fixed, re-fi again for 10 year fixed, house paid off 14 years from purchase. Each time we got a lower finance rate, paid extra on principal only, and got out from under the "pay for your house 3X with your after tax money" scam as quickly as we could. If you get rid of your monthly nut you'll have plenty to sink into other assets. So if you have not done a re-fi, consider it asap.
If you leave it in retirement, check for a precious metal mutual fund or option. If that is not available (like mine, T.Rowe Price) put in a “stable value” fund.
You can pull it, but will pay heavily in taxes in 2022. If you go this route you would want to invest in precious metals (physical gold or silver), but I would not advise to do it based off taxes alone.
Some retirements let you take loans out on your own money and you pay yourself interest and principal via monthly payment out of paycheck. Typically you can take half (tax free) and do what you want with it, but you do have to pay the amount back. If you took out the money, you could invest if you know what you’re doing in the stock market. If not, you could buy physical gold or silver online or at a pawn shop. You can always sell back as well. You could also buy crypto if you know that market, but something like Bitcoin or Ethereum would be safest.
Similar situation. If you can put it into PM mining and commidities. Thats what I did, and expect to profit as $$$ moves from shit paper to real assets. No penalty. Not a fin advisor.