I didn’t have room to add this, but I’m very well leveraged into precious metals - maybe way over leveraged lol. I’m also stocked up on food, water, 2A supplies, etc. the only thing I really don’t have, is a home with some land, and I don’t have enough to make that happen, even if I cashed out all of my 401k
The law allows for many assets, including metals and/or other physical property to be included in a 401k; the individual plans usually have less flexibility and don't allow that, but sometimes they do, you have to read the plan document to be sure. If you've left the employer, you can roll it over into anything the law allows, as long as you have a fiduciary custodian (bank, trust company, savvy asset manager) that allows you to.
It can be physical, but somebody else has to hold it. There's always a wall between you and the asset, to make sure you can't liquidate or earn money off of it to transfer money out of the retirement plan. That wall = somebody else (bank, wealth manager, etc.) that the IRS already approved.
Take a distribution from that 401 and buy physical silver from JM Bullion. It’s a bargain right now. At least freeze the value of all that 401 fiat garbage.
if we have anything like France is trying to do this may come sooner for some then others. France is trying to pass mandatory vaccine law for ALL citizens for Jan1 2022.
You could also do cash. But if everything loses value, title to anything real is worth something. I actually think GM or Delco, or anything linked to US manufacturing (Alcoa, US Steel) should weather well. Even if they're broken up, the physical assets will be worth something. Smaller companies with fixed assets better than huge monopolies, if you can find them.
That actually makes sense to me. I have a bit on hand, but could probably use some extra. I think cash will have its place in what’s coming, but who knows for how long. Either way, I like your opinions, thank you
You can rollover some of your IRA into gold and silver but that is basically paper/electronic gold/silver. To get real physical gold and silver takes a special IRA set up. Not sure how it works, but sounds like a lot of hoops to jump through. My personal opinion is that you can not have enough gold and silver. At age 59.5 you can start taking disbursements without a 10% penalty. I plan on converting quite a chunk to precious metals.
physical gold and silver
I didn’t have room to add this, but I’m very well leveraged into precious metals - maybe way over leveraged lol. I’m also stocked up on food, water, 2A supplies, etc. the only thing I really don’t have, is a home with some land, and I don’t have enough to make that happen, even if I cashed out all of my 401k
buy a shitload of seeds
find a farmer with land
??\
Profit.
How can you convert a 401 to anything w/o taking a distribution and penalizing yourself?
you can also take the funds out and only pay taxes, not the usual penalty. Trump got rid of the penalty when he declared COVID emergency
The law allows for many assets, including metals and/or other physical property to be included in a 401k; the individual plans usually have less flexibility and don't allow that, but sometimes they do, you have to read the plan document to be sure. If you've left the employer, you can roll it over into anything the law allows, as long as you have a fiduciary custodian (bank, trust company, savvy asset manager) that allows you to.
Awesome, thanks! Does this mean you hold something like SLV, or can you convert a portion to physical silver?
It can be physical, but somebody else has to hold it. There's always a wall between you and the asset, to make sure you can't liquidate or earn money off of it to transfer money out of the retirement plan. That wall = somebody else (bank, wealth manager, etc.) that the IRS already approved.
Makes sense...thanks, fren!
Take a distribution from that 401 and buy physical silver from JM Bullion. It’s a bargain right now. At least freeze the value of all that 401 fiat garbage.
Gold IRA
if we have anything like France is trying to do this may come sooner for some then others. France is trying to pass mandatory vaccine law for ALL citizens for Jan1 2022.
I think a market collapse or major correction is coming. I’m not asking for financial advice, and any responses will be strictly viewed as opinions.
You could also do cash. But if everything loses value, title to anything real is worth something. I actually think GM or Delco, or anything linked to US manufacturing (Alcoa, US Steel) should weather well. Even if they're broken up, the physical assets will be worth something. Smaller companies with fixed assets better than huge monopolies, if you can find them.
That actually makes sense to me. I have a bit on hand, but could probably use some extra. I think cash will have its place in what’s coming, but who knows for how long. Either way, I like your opinions, thank you
I had a good discussion about the upcoming financial collapse with another user on this linked post. Not conclusive, back-and-forth theories, but this is what the two of us were talking about, if you're interested. https://greatawakening.win/p/13zg0LInNV/bubble-bursting--default-of-seco/
You can rollover some of your IRA into gold and silver but that is basically paper/electronic gold/silver. To get real physical gold and silver takes a special IRA set up. Not sure how it works, but sounds like a lot of hoops to jump through. My personal opinion is that you can not have enough gold and silver. At age 59.5 you can start taking disbursements without a 10% penalty. I plan on converting quite a chunk to precious metals.