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-   -   Market crash............ (http://www.firearmstalk.com/forums/f12/market-crash-95493/)

willshoum 08-15-2013 11:10 PM

Market crash............
 
Two weeks to late ? Yesterday I called the folks that has my 401 k, from my previous employer........The last time i was envolved with the money holders they told me to sit tight and things would get better. I lost as much as I had put in. This time I pulled it out just before the **** hit the fan in Egypt, more or less. Now my question is...............Are there any Honest people left out there that can reinvest my savings. Or do I bite the bullet, pay the taxes and hoard the little left overs that osammy and his cronies have left me with.................I could always invest in guns and ammo.................Hell, better than gold.....................:confused:

Shihan 08-15-2013 11:14 PM

I say hit the strip club and have a blast. You can't take it with you, so enjoy it while you can. Aaaiiieeeeeeeeeee!

eatmydust 08-15-2013 11:24 PM

Wills.... - you do not want to withdraw it all and take the bath!

Roll it into a Fidelity, Schwab, or Scottrade IRA and oversee it yourself. Just go with an S&P index ETF, like SPY (60%) and a wide market bond ETF, TTL (40%) and let it ride! You'll be fine. Depending on your age, you may want to reverse those percentages.

Call any one of these discount investment houses and they'll handle the rollover and the investment at very, very low fees!

* I am not a financial advisor, but I did sleep at a Holiday Inn Express last night!

winds-of-change 08-15-2013 11:27 PM

Quote:

Originally Posted by eatmydust (Post 1336586)
Wills.... - you do not want to withdraw it all and take the bath!

Roll it into a Fidelity, Schwab, or Scottrade IRA and oversee it yourself. Just go with an S&P index ETF, like SPY (60%) and a wide market bond ETF, TTL (40%) and let it ride! You'll be fine. Depending on your age, you may want to reverse those percentages.

Call any one of these discount investment houses and they'll handle the rollover and the investment at very, very low fees!

* I am not a financial advisor, but I did sleep at a Holiday Inn Express last night!

This is the key. RIDE IT OUT. But I am younger than Wills so that's easier for me to say. Over all, through all the crashes and booms, I have done well with my 401(k). I have a couple of them. I'm going to roll them all over into one when I get mine going at my current employer. I have to wait a year. But technically, you didn't lose anything until you pull your money out at a loss. :cool:

hiwall 08-16-2013 12:41 AM

It depends on how old you are(how close to retirement). eatmydust has a pretty good idea about managing it yourself. Add to the list TDAmeritrade.

Daoust_Nat 08-16-2013 12:53 AM

Just my humble opinion, but an unexpectedly good jobs report and a couple of profit shorcomings are not yet going to do the market correction that I think is coming. I think Bernanke is going to quit throwing $85 Bil into the economy each month, but not until Obummer says so. I don't think that is coming soon, as it does not fit his Keynsean Economic plan. It is coming, but I think he will try continue throught he 2014 midterms. I would keep it in. I am, and I am 64, so I need to be careful. I would watch and listen for Bernanke to fart.

tri70 08-16-2013 02:21 AM

Money = power, BO wants all the power. Buy guns and ammo, they are doing better than any Wall Street investment.

Jpyle 08-16-2013 02:52 AM

Quote:

Originally Posted by Daoust_Nat (Post 1336669)
Just my humble opinion, but an unexpectedly good jobs report and a couple of profit shorcomings are not yet going to do the market correction that I think is coming. I think Bernanke is going to quit throwing $85 Bil into the economy each month, but not until Obummer says so. I don't think that is coming soon, as it does not fit his Keynsean Economic plan. It is coming, but I think he will try continue throught he 2014 midterms. I would keep it in. I am, and I am 64, so I need to be careful. I would watch and listen for Bernanke to fart.

Having ridden the anti-bubble sentiment into office in 2008 Obama and Bernanke have created a bubble of their own under QE I, I, III whatever. When that party comes to an end head for the sidelines cause when it happens it will ripple around the globe and no amount of diversification will protect you.

ScottA 08-16-2013 02:53 AM

If you do not need to leave it in the 401k, get it out and move it to an IRA. I use TD Ameritrade myself. Then start educating yourself. Here are a few good places to start.

http://www.youtube.com/channel/UCQ6tz0KXI-83VadAHD7UZ6g
http://www.youtube.com/channel/UCKrz9GW8_Dtm41aOc05S4Vg
http://www.youtube.com/channel/UCQAvjhqp559qSQx2dcg9WVg

In my opinion, investing requires just as much attention to detail if not more than firearms. Start learning.

Jpyle 08-16-2013 02:57 AM

Quote:

Originally Posted by willshoum (Post 1336565)
Two weeks to late ? Yesterday I called the folks that has my 401 k, from my previous employer........The last time i was envolved with the money holders they told me to sit tight and things would get better. I lost as much as I had put in. This time I pulled it out just before the **** hit the fan in Egypt, more or less. Now my question is...............Are there any Honest people left out there that can reinvest my savings. Or do I bite the bullet, pay the taxes and hoard the little left overs that osammy and his cronies have left me with.................I could always invest in guns and ammo.................Hell, better than gold.....................:confused:

Wills, just my opinion but if you are of retirement age and are drawing on that 401(k) you should be in a defensive position with lots of fixed income holdings, not stocks. If you lost 20-30% in a week you simply do not have time to make it back. You won't make a lot in bonds but they are more stable in a bear market and you won't lose what you put in.


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