what do you think
- Thread starter VMax-Mike
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Who knows? The countries debt to GDP ratio is not the worst it's ever been and the deficit has been steadily working it's way down. But we are still in a precarious position no doubt.
I do know if you watch Fox news everytime the stock market goes up....they warn that it's all an illusion and say it's overdue for a correction or crash. They've been saying this for over a year.
Meanwhile my 401 K portfolio is up 18% year to date and 20% since we switched plans in October of last year. Needless to say I've made a lot of money and I'm so glad I didn't listen to them.
I do know if you watch Fox news everytime the stock market goes up....they warn that it's all an illusion and say it's overdue for a correction or crash. They've been saying this for over a year.
Meanwhile my 401 K portfolio is up 18% year to date and 20% since we switched plans in October of last year. Needless to say I've made a lot of money and I'm so glad I didn't listen to them.
Unholy1
Member
I think ANYTHING in that format is automatically BS.
I do think the us dollar as we know it is going away soon and i do feel it will hurt all of us when it goes. But i dont think i need help from stansberry to get through it. I just wanted to put it on the front burner for everyone and i hope all of you are willing to step up and take care of your future now. Dont wait until its to late. Everyone is different and its on the front burner and its up to you. I feel we still have enough time to get our lives in order and i cant say for sure how much time but if you havent planed for the worst with your family maybe this weekend might be a good time to start. If all goes ok no harm in being ready. But if it gets bad enough over the next few months or years being ready will go along ways.
I couldn't finish it. The "I'm not trying to scare you, but let me spend the next 15 minutes telling you the world is going to end" got a little too much. America is going to end as we know it, but all you have to do is pay some money and he'll tell you how to avoid it. Also, there are young sexy girls eager to talk to you... just call this 900 number.
My 401(K) portfolio has also gone up quite a bit this past few months. BUT it ain't worth warm spit, unless, or until, it remains UP until I can get to a certain age and close it out. aka: cash it in while it's high. If Sharia Law is in effect when I retire, I suspect no amount of $$ on paper will do me any good. :biglaugh:
ps: I didn't watch the video Mike posted to come to that conclusion.
Rusty McNeil
Well-Known Member
If you have any degree of self direction
(That lets you say what funds or stock you own) in a 401k there's no reason it should be subject to going down close to retirement.
I thought it was basic investment philosophy to shift the portfolio ratio of stocks/ bonds/money market to less stock and more bonds/money market the closer to retirement you are.
Possibility of big gains are less but so are possibility of big losses, virtually crash proofing a portfolio. Interest rates going back up, which they will and need to, will only make the safer two
options do even better.
All the 401k's I've been in let you pick where the money goes. Fidelity, at least the plan I'm in, has full access to anything anywhere traded or sold on all the major US exchanges plus some foreign ones.
Are there 401k plans that don't let you participate in the decision making process?
I don't know, I've haven't worked for a small company since these plans came about, I assumed they were all like that but don't really have anything to base that on.
I quit doing it myself a long time ago and signed up with an outfit called smart401k.com and have never looked back.
They do not work on commissions or trades. Its a flat fee per quarter with no motivation to churn or speculate, and a very solid reputation.
I believe it was started the same group who started the "Mutual Fund Store" and it is run with the same philosophy; basing their fee on how much they make for you, not how many trades they make or funds they sell. If you don't make money, they don't make money.
Its the basic difference between a Broker ( bad news, all they want to do is sell and make trade to earn commissions, they aren't working for you, their working for themselves) and an advisor (good news, they are working for you, with no motivation to churn and buy/sell)
I've done much better with them than I ever did trying to figure it out myself.
> 80% of brokers and advisors can't even beat the returns provided by exchange index funds, what makes any amateur think he can do better?
Many folks hire professionals to do easy shit like plumbing and electrical, car repairs etc. yet with many people; the most important decisions they'll ever make they take a DYI approach and try to wing it like they are in Vegas.
Anybody can be a genius in an upmarket, providing further incentive to screw up later.
Smart401k doesn't move your money around for you, nor do they have access to your account.
They just issue quarterly recommendations based on your lengthy risk/goal/ age/ retirement date profile and what you have available to you in your plan, which with 99% of employers they will have the full list simply by knowing the employer and the 401k plan.
The dollar may become weaker and the US may not be the worlds sole superpower forever but I do not think the dollar is "going away".
I say that simply because although we may be faltering at times we are still "the best there is" and still the worlds preferred currency, although admittedly there are signs that position is weakening, its not happening in a hurry, and I believe its not permanent, simply because I still believe in American Exceptionalism.
I think all that end of the world stuff is a bunch of paranoid hype put out there by people with agendas.
I hope I'm right....
I also hope you're right But I'm not going to depend on a 401 K To save my ass for the next 5 years My 401 K is for the future If it is still there My point is Winter is on its way And we don't live like our grandparents anymore But there is a possibility we might need to I do agree with you Not a strong possibility Yet But strong enough to prepare I don't know about the rest of you But I will be ready to hunker down fOr at least 6 months and will be set up to bug out If need be. I hung out with my grandparents a lot growing up And they seem to live a worry-free life I still have a few things to set in place And I'm Way more relaxed these days
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I have never lived in fear but i was never safe like i am now. Having a good back up plan is a good idea. I was told to make sure i had enough money in the bank to pay 6 months worth of bills and now i have vary little dept and can pay alot more than 6 months of bills and i know i can make it 6 months if i dont leave my home. The here and now is what matters. Now all i got to do is figure out how i can stay at my house and not have to leave with my wife there. LOL. Actully she is still the first person i would put by my side. Thick and thin we have always made it.
poppop
Well-Known Member
http://www.youtube.com/watch?v=Nbpv3e0fPKo I think were in deep shit
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