Will the Government 'nationalize' your private 401k retirement savings?

[actaeon277]

1st post and you necro a post from 3 years ago

At least it was a quality post. It contributed.

 

[seamonster]

only contribute enough your 401k to get the company match. The rest should go into a roth ira. The tax ramifications at retirement are much better than relying on a company 401k plan.

 

[jedi]

only contribute enough your 401k to get the company match. The rest should go into a roth ira. The tax ramifications at retirement are much better than relying on a company 401k plan.

401k, ira, savings account all of them or worthless and pointless.
They hold no real value when the paper currency goes bye-bye.
Physcial goods is what you want. Barter/Trade and/or being able to use those physcial goods while the system re-sets itself will put you in a much better position.

 

[jamil]

401k, ira, savings account all of them or worthless and pointless.
They hold no real value when the paper currency goes bye-bye.
Physcial goods is what you want. Barter/Trade and/or being able to use those physcial goods while the system re-sets itself will put you in a much better position.

I think it's good to have a balanced portfolio in case the zombie apocalypse doesn't happen.

 

[ces6508]

If you like your 401k you can keep your 401k .

 

[rockhopper46038]

Hmm. Some might think that seizing all the firearms in private hands might be a good idea before nationalizing the 401(k)s and IRAs...

 

[BigMatt]

There is an episode of The Survival Podcast that deals with converting your 401k/IRA to a self-directed IRA and then setting up an LLC.

You can use the money in you SD-IRA to invest in the LLC and buy precious metals that you can keep in your home safe or bank deposit box.

This won't keep the IRS for coming for their share when the time comes, but in a bad enough SHTF scenario, you will have your PM's in your hands.

Holding Silver in Self Directed IRAs | The Survival Podcast

 

[Noway Jose]

If you like your 401k you can keep your 401k .

Period.

 

[Jackson]

401k, ira, savings account all of them or worthless and pointless.
They hold no real value when the paper currency goes bye-bye.
Physcial goods is what you want. Barter/Trade and/or being able to use those physcial goods while the system re-sets itself will put you in a much better position.

That sounds fine and dandy until you hit retirement age before societal collapse with no money and a twenty-year supply of toilet paper.

 

[TRWXXA]

This won't keep the IRS for coming for their share when the time comes, but in a bad enough SHTF scenario, you will have your PM's in your hands.

I still haven't quite figured it out... In your SHTF scenario, you have handfulls of precious metals. Congratulations! What exactly are you going to do with them? If I am selling jugs of water (one per customer... There's an apocalypse going on, ya know!), and the smallest thing you have is a $50 silver piece... Guess what that jug of water is going to cost you.

If the S truly does H the F, I expect ammo and gasoline are gonna be the new coins-of-the-realm. Enjoy your pretty metal trinkets though. Perhaps you can melt them down and cast them into really blingy-looking bullets.

 

[jedi]

That sounds fine and dandy until you hit retirement age before societal collapse with no money and a twenty-year supply of toilet paper.

if u hit retirement age and are fully supplied what need do you have for money?

u use your inventory till you die and the price level you bought it at.
you could sell it at a little higher price but not the current inflation price if you needed cash.

I still haven't quite figured it out... In your SHTF scenario, you have handfulls of precious metals. Congratulations! What exactly are you going to do with them? If I am selling jugs of water (one per customer... There's an apocalypse going on, ya know!), and the smallest thing you have is a $50 silver piece... Guess what that jug of water is going to cost you.

If the S truly does H the F, I expect ammo and gasoline are gonna be the new coins-of-the-realm. Enjoy your pretty metal trinkets though. Perhaps you can melt them down and cast them into really blingy-looking bullets.

pms are not designed for that. they are designed to maintain your wealth while the transition from one paper money to the next. human race has never gone backwards. each empire will eventually get toppled/destroy and the next takes over we dont restart at the stone age. same with sthf unless you are talking about a skynet type attack or e.l.e.

 

[lucky4034]

Us George Carlin fans have known this for years.
*Warning: Contains strong language*

YouTube - George Carlin -"Who Really Controls America"

"Its a big club.... AND YOU AIN'T IN IT"

 

[El-Cigarro]

What about 403-B's????

 

[YoungGunLover]

You should definitely fund a 401k or an IRA, it would be senseless not to. Especially if your company matches. Sure, we hear it all the time, the economy will collapse in 3 years, 5 years, or whatever the time frame. Im pretty sure they've been saying that for a long time now. And while i do feel like eventually there is going to be a total collapse, theres going to be many recessions before we get there. Recessions are not necessarily bad. They regulate the economy. Thats what a lot of people don't realize about a recession. Its part of a capitalistic economy. If you look at the history of the US economy, recessions happen around every 8-10 years. Example, early 80's recession, early 90's recession, dot com bubble, housing bubble. All spaced around 8-10 years. And you know what happened in between them? Economic gains and prosperity.

Are PM's something you should invest in? Sure, but they can be volatile. Just like we have seen recently. But so can the stock market. But as of right now, paper money is the way to go, no argument about it. Because if someone comes into my business and wants to pay me in gold or silver, ill probably take it, but I want more of it for the hassle of it. Its a lot easier to hand someone a $20 bill than a ASE thats worth $20.

As far as the collapse goes, chances are, most of us are not going to see the total collapse of this economy. I might (im 23) but i'd make a strong bet alot of you old folks in your 50's and 60's probably are not going to see it. You'll probably see 3 or 4 more recessions, but never the collapse.

And as far as having your preps as your retirement, thats about as risky as you can get. Sure, they're always going to be there, but what about a house fire? Pretty sure your insurance won't back you up for a 1,000 lbs of rice and beans and 1,000 rolls of toilet paper. Or what about deflation? It would be better to have cash to take out and buy goods while they went down in price. And when you prep, do you prep to live the current lifestyle you are living? Your still going to have to pay insurances, buy gas, maybe a new A/C or Furnace, or even another car if an engine blows. Prepping is a good thing, and I do it, but to not fund a retirement account is to set yourself up for a massive life crisis, and probably wont ever fully retire.

 

[traderdan]

You should definitely fund a 401k or an IRA, it would be senseless not to. Especially if your company matches. Sure, we hear it all the time, the economy will collapse in 3 years, 5 years, or whatever the time frame. Im pretty sure they've been saying that for a long time now. And while i do feel like eventually there is going to be a total collapse, theres going to be many recessions before we get there. Recessions are not necessarily bad. They regulate the economy. Thats what a lot of people don't realize about a recession. Its part of a capitalistic economy. If you look at the history of the US economy, recessions happen around every 8-10 years. Example, early 80's recession, early 90's recession, dot com bubble, housing bubble. All spaced around 8-10 years. And you know what happened in between them? Economic gains and prosperity.

Are PM's something you should invest in? Sure, but they can be volatile. Just like we have seen recently. But so can the stock market. But as of right now, paper money is the way to go, no argument about it. Because if someone comes into my business and wants to pay me in gold or silver, ill probably take it, but I want more of it for the hassle of it. Its a lot easier to hand someone a $20 bill than a ASE thats worth $20.

As far as the collapse goes, chances are, most of us are not going to see the total collapse of this economy. I might (im 23) but i'd make a strong bet alot of you old folks in your 50's and 60's probably are not going to see it. You'll probably see 3 or 4 more recessions, but never the collapse.

And as far as having your preps as your retirement, thats about as risky as you can get. Sure, they're always going to be there, but what about a house fire? Pretty sure your insurance won't back you up for a 1,000 lbs of rice and beans and 1,000 rolls of toilet paper. Or what about deflation? It would be better to have cash to take out and buy goods while they went down in price. And when you prep, do you prep to live the current lifestyle you are living? Your still going to have to pay insurances, buy gas, maybe a new A/C or Furnace, or even another car if an engine blows. Prepping is a good thing, and I do it, but to not fund a retirement account is to set yourself up for a massive life crisis, and probably wont ever fully retire.

You sir,are an optimist!...Now let me ask you,..Hypothetically speaking, if you knew an older gentleman,who is at retirement age, who began to buy firearms and ammo,at the same rate that he could have invested in a 401K..say 30 years ago...Would he or not actually probably possess more wealth than had he gone the typical route of investment?

 

[Baditude]

Depends on the investments. What if he had bought CISCO, Microsoft, Apple, Yahoo etc.. at IPO? Even a small investment would have grown exponentially

 

[lucky4034]

You should definitely fund a 401k or an IRA, it would be senseless not to. Especially if your company matches. Sure, we hear it all the time, the economy will collapse in 3 years, 5 years, or whatever the time frame. Im pretty sure they've been saying that for a long time now. And while i do feel like eventually there is going to be a total collapse, theres going to be many recessions before we get there. Recessions are not necessarily bad. They regulate the economy. Thats what a lot of people don't realize about a recession. Its part of a capitalistic economy. If you look at the history of the US economy, recessions happen around every 8-10 years. Example, early 80's recession, early 90's recession, dot com bubble, housing bubble. All spaced around 8-10 years. And you know what happened in between them? Economic gains and prosperity.

Are PM's something you should invest in? Sure, but they can be volatile. Just like we have seen recently. But so can the stock market. But as of right now, paper money is the way to go, no argument about it. Because if someone comes into my business and wants to pay me in gold or silver, ill probably take it, but I want more of it for the hassle of it. Its a lot easier to hand someone a $20 bill than a ASE thats worth $20.

As far as the collapse goes, chances are, most of us are not going to see the total collapse of this economy. I might (im 23) but i'd make a strong bet alot of you old folks in your 50's and 60's probably are not going to see it. You'll probably see 3 or 4 more recessions, but never the collapse.

And as far as having your preps as your retirement, thats about as risky as you can get. Sure, they're always going to be there, but what about a house fire? Pretty sure your insurance won't back you up for a 1,000 lbs of rice and beans and 1,000 rolls of toilet paper. Or what about deflation? It would be better to have cash to take out and buy goods while they went down in price. And when you prep, do you prep to live the current lifestyle you are living? Your still going to have to pay insurances, buy gas, maybe a new A/C or Furnace, or even another car if an engine blows. Prepping is a good thing, and I do it, but to not fund a retirement account is to set yourself up for a massive life crisis, and probably wont ever fully retire.

I want to ask you a simple question.... please explain to me how our country is going bankrupt while taxing its citizens 50% + ... and yet Wall Street is still recording constant gains in an obviously sketchy economy?

And deflation? what is that LMAO

 

[Doug]

I want to ask you a simple question.... please explain to me how our country is going bankrupt while taxing its citizens 50% + ... and yet Wall Street is still recording constant gains in an obviously sketchy economy?

And deflation? what is that LMAO

Wall Street is gaining because the Federal Reserve is pumping money into the economy by buying bonds. This drives up the cost of bonds relative to their return on investment. As the cost of bonds increases, stocks become more attractive as an investment, so more investors buy stocks, driving the market up. Thus, the Federal Reserve has artificially inflated the value of the Market. As the money supply increases, the value of each dollar goes down.

Deflation occurs when prices drop due to increased supply, decreased demand, or increased value of your money. We are beginning to see deflation in the price of ammunition as supply begins to catch up with demand.

 

[rockhopper46038]

YoungGunLover is smart to hedge his bets. Even small amounts of money put away in prudent investments for future retirement needs is a wise decision to make at his age. It is impossible to predict the future, but it is safe to say that one of the few actual paths to a comfortable retirement is to start saving early. Yes, I'm concerned that the government will decide to "redistribute" my considerable retirement savings. Yes, I hedge with other investments that are outside the reach of government. I pray our leaders are not so foolish as to think such a sweeping theft of assets from the citizenry would go unpunished.

 

[YoungGunLover]

You sir,are an optimist!...Now let me ask you,..Hypothetically speaking, if you knew an older gentleman,who is at retirement age, who began to buy firearms and ammo,at the same rate that he could have invested in a 401K..say 30 years ago...Would he or not actually probably possess more wealth than had he gone the typical route of investment?

Im not too much of an optimist. I hate where the path of this country is going. And I do feel that eventually this country is going to go bankrupt. But thats not a reason for me to go bankrupt before then. And there is no way of telling how much wealth he would have. Maybe he bought not so high end firearms. I have an old .22 pistol that was my dads. Its worth more to me that its his than if I tried to sell it. I doubt I could even sell it. And he bought it 30 years ago. You would need to look at value of guns vs. inflation and then the value of the stock market where the retirement was invested vs. inflation. But good growth stock mutual funds have an average return of 8% yearly. Thats good enough for me vs. a gun that is entirely dependent on what others want to pay you for it. Lastly, if someone has a good retirement fund, and want to buy a car, they simply withdraw the money, instead of selling off 10 guns to raise the money.

To Lucky, I think Doug answered the question pretty good. And also, while it doesn't seem like it, you can cash in on these major returns that are being seen. Its just that your going to make money on an equal scale to the big timers. Its just that you might not see it because most people feel that if you make 5% return, you might only make $500 on their investment. Thats proportional to a person who would invest $10 million and made 5% return. Its just they make $500,000, but they risked more. People just don't like it that others make more money.