Late to the party, advice needed

[TJW1976]

Over the past few months, I've finally become aware of the issues we are facing and I'm looking for advice on my portfolio. I'm currently mostly invested in stocks (60% domestic/40% foreign), but would really like to get out of that and into precious metals. The problem I have is most of my money is in a 401k/defined benefit pension so I can't own physical metals. So far the best alternative I've found is the Central Fund of Canada (along with their individual gold and silver funds). It seems to me that most markets are too inflated to buy into right now, so I'm looking for any advice as to where I can go to get out of my US dollar exposure.

Aside from my retirement funds, I've already purchased some silver (American Eagles) and plan on getting more as my finances allow. I'm planning on just dollar cost averaging and getting some every month or 2. I feel like I'm showing up a little late to this game, but would love to hear what advice some of you all have for someone in my shoes.

Thanks!

 

[paulpwns]

Best advice?

Don't take investment advice over the internet.

Invest in something YOU KNOW.

 

[Icymudpuppy]

Ppwns is right. Invest in something that you have some knowledge, expertise, or interest in. You will be more inclined to track those investments and learn something about the company you are invested in.

I have invested in Alternative energy, and move my investments around from time to time if a company starts moving in a direction I think will not further the value of the stock based on my intimate knowledge of the Alternative energy industry.

 

[Cleaner44]

Increase your knowledge of PMs. You can also jump into the forum at kitco.com for PM news and knowledge.

 

[Athan]

Here is some advice I can give that is sound because it is based more on the problems of our flawed banking structure and it doesn't require much research.

1. Save as much money as possible from your income. You absolutely need to increase your cash flow and reduce all unnecessary expenses in these unstable market times.

2. Also take as much money as possible from the bank your willing to store secretly at home. The fiat system we are on means that the banks have more liabilities they owe to others than they actually have stored from all of their customers. Make sure you don't have your cash stuck in the bank if no one really knows which banks are solvent.

3. Buy as much physical gold and silver as you can from a local dealer if possible with cash. This is meant to stop the further devaluation of your savings and to protect your money against the likely risks that are involved with quantitative easing being done by the federal reserve.

4. Make yourself as independent of necessities if possible. No matter what, I'll be fine whatever happens and I'll still have my savings despite a devaluation or times of nationwide panic. I'll only be inconvenienced at best. I have access to water, land, food, and guns. Good luck!

 

[dannno]

Right now foreign stocks are a great buy.

I highly recommend subscribing to Peter Schiff's vlog:

http://www.europac.net/videoblog.asp?a=watch


He talks about the markets several times a week. Get as much advise from him as possible.


Might look into WASCX (bullion, foreign mfg), TPINX (foreign bonds/currency), VGPMX (precious metals mining), FHKCX, MINDX, etc..

 

[ArchPaul]

1. I would personally stop pushing money to the 401k. As times get desperate, so does government.

"Thus under the commission's auspices the Wucherpolizei on September 20 raided the cafes and restaurants of Unter den Linden and the Kurfürstendamm in Berlin, forced every customer to produce his wallet or purse, and extracted all foreign money therein. The exercise went not only to show the futility of the new policy, but to underline the desperation of an advanced industrial nation which was unable to find accommodation in a foreign market to the extent of £6 million, the amount Germany then needed to borrow. "
http://mises.org/resources/4016

2. Make sure you have necessities. Preserved food, or ways to get food, water etc. Self defense.

3. After the core is covered, Dump money into physical gold and silver bullion. Buy from a local coin dealer, with cash if you can. Make sure your not followed on the way home (yes, we've had people here getting robbed after they bought from coin shops). Also get some junk silver (dimes), and save pre-82 pennies, and nickles... I cash my nickels in after I've enough to buy silver though.. just a better play.


4. Buy popcorn, so when the show starts you can be watching it on tv, instead of risking your life in the panic.

5. If you have enough to play the market then that's up to you..

enjoy.

 

[ctiger2]

1. I would personally stop pushing money to the 401k. As times get desperate, so does government.

Yep, 401K's are a ponzi scheme. Get out of all of those and buy real money. Silver/Gold anyone?

 

[EddieG]

Entitlements are Ponzi schemes, but 401Ks aren't. 401Ks usually do leave people with very poor choices of "safe" instruments like US bond funds and large cap domestic stocks. They also are at risk of confiscation once the dollar crisis really heats up and the gov't needs money. Confiscation won't be the word used, however, the gov't will just "respond" to people's calls for safety and kindly convert all 401K money to gov't "guaranteed" bonds... which will be defaulted on via inflation as is slowly happening with the dollar.

 

[Mitt Romneys sideburns]

Dirigibles! They are the way of the future.