Not trying to make a tread for specific financial advice as much as I'm am curious about what people are doing or considering doing with their current investments.
I for one am thinking about cashing out a 401k I have. I'm not currently contributing because I'm between careers as a result of moving my family out of the pits of hell (westtern WA Seattle area). As part of the move we faired very well taking advantage of the inflated housing market and are debt free so we can hold over while I find a new career.
Since the Friday banking fiasco, I have already lost 4k in my 401k! 3 friggin' days! Instead of watching my investment tank, I'd rather take the early withdrawal hit and hold cash and a fair amount of bullion.
I'm just a normal working man and really don't know much about investments. To me it seems right now it would be wiser to hold your assets in something tangible rather than watch my "money" on a computer screen rapidly disintegrate.
That is the million dollar question. If you sell now, you are taxed. I lost $84,000 in 2008 and never got it back. In 2011 it was said another crash was coming, so we took out what was remaining and remodeled our kitchen. This was an account I contributed to with matching from my employer. I still had a pension. Now the question is how safe are those, if the stock market dives. If you take money out, put it in the bank and the bank goes under, you lose. Or if it is temporarily in the bank, amounts over $5,000 need approval for withdrawl and that can take 4-5 days, plenty of time for something to happen. Banks, stock markets are not our friends.