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...