I know you shouldn’t ask investment advice over the internet, but I’m hoping to get a drive by consult from anyone more familiar than me in investments.
My hubby and I have a really good secure plan for if SHTF, he can support me even if I don’t work. I just went to part time as an RN so I only work two 12’s a week, just to keep our health insurance since he is a successful small business owner.
My question is, if SHTF soon, should I divest in my retirement now, take the hit, and put what ever is left in more precious metals? (We have PM and plenty of other assorted precious metals ;-)
We have heavily invested in property. Most all is owned outright now.
Neither one of us have really been a fan of stocks - but since my company would match up to 6% of what I put in, I’ve been putting in 10% for many years. It was a decent sum until today 😂🤷♀️ - hate to think of at least the capital I put in being lost…
I rode out the 2008 stock market failure by moving everything in my 401K into THE MOST CONSERVATIVE stocks my retirement manager had... didn't lose a dime. I don't know if today's situation is the same, but could be. And since you have some metals already, I wouldn't over invest in more. Just my opinion...
I’m thinking I will pull out and invest in metals. I just don’t have the luxury anymore of keeping funds in the market. Thanks for your opinion :-)
Please don't do that on my say so, but if you do, I would invest in metals only to the degree that you can afford. As I said, I'm not a financial advisor, I just know what worked for me. Your mileage may vary. It actually takes TIME to move 401K money away from its managing institution into something else... weeks perhaps.
You might look at the stock market in 1929, after Black Thursday when it all came apart and people lost millions of dollars, to see which stocks survived. What type of companies were they? Food? Pharmaceuticals? Automobiles? And then plan accordingly.
The stock market will, in some shape or another, survive past this current crisis, and it pays to put investments that are THE MOST CONSERVATIVE (meaning low risk and low return) available. Precious metals are mostly for those who can afford to buy them with money they can afford to tie up in them for the long term.
Thanks for your suggestions :-) Thankfully we are pretty square with everything except my portfolio. I have always been wary of stocks and just feel more comfortable moving it to a solid (literally!) investment.
Good luck and God bless...
I wouldnt even worry about your investments because even if you do lose now there will be a new banking system coming in and it will go up again. I lost thousands and in my case I took the rest out because I am 66 and dont have enough time to wait for it to come back. Depends on your age.
You have your own property you have already beat most people. Most dont have.
My husband and I are in our 60’s also. BECAUSE we don’t have much time left for it to come back up like it did with Trump after ‘08, ya, I’m just thinking divest and suck any gains, and just recoup my capital. Go from there. Life is short to play the long game with stonks for us 🤷♀️
Own our wharehouse, a condo that is used for contractors in a distant location, a property we use an and Airbnb rental and most of our house. Waiting to pay the house off, but worried we will lose that if banks call the loans?
Do you have enough to invest it yourself? Do you know that you can use it as a 'self directed IRA?' You can invest in almost anything with a self directed IRA. See if you can find a reputable broker in your area and what they might suggest. They might advise based on how much you have in your account/s. Good luck and let us know what you do. I'm curious to know what to do, myself!
Sorry, let me explain further. When you invest yourself, you have to have a 'custodian' to watch over your money and make sure you're not breaking the rules. So instead of a stock broker like a TD Ameritrade type, you have a custodian for your IRA.
I pulled all of mine out and invested in gold, silver, food, cash on hand, and an RV. Glad I did it when I did because they’re down 30% since then.
I have never been one to scrutinize, I’m a nurse, not a finance type person. Hubby has made some awesome decisions on buying and investing in properties. It’s just my retirement investment I’m not sure what to do with. But at this point, I think I’ll pull it all out and invest in gold, less the fees for pulling it out early. In the long run, I think that will be wiser.
Let’s hope Ron Paul is right!
I read your reply and then tried to get online to my Retirement fund management company just to look at what was available. It just keeps spinning and doesn’t open up…. Fidelity. Idk, maybe I can get in tomorrow when it all settles down.
Erg … My hubby says to put my 25% back in now (buy low). But I just don’t think so.
Employees for my company are only given the option of funds, so there isn’t much you can control outside of researching the fund managers and speculating on what THIER prospects is.
I really do want out. Even if I lose the “free money” in matching investment.