peter schiff/ ron paul on what to do with our 401k's

[SooperDave]

I just finished reading the recent books from schiff and paul. And I searched the site and can't find anything regarding their suggestions on 401k's? Should we liquidate? Should we stop contributing? If the gov't tries to confiscate them I really think things are going to get ugly (bloodshed). It sure would be a shrewd and criminal way for them to keep the social security ponzi scheme going for another generation.

 

[danberkeley]

I just finished reading the recent books from schiff and paul. And I searched the site and can't find anything regarding their suggestions on 401k's? Should we liquidate? Should we stop contributing? If the gov't tries to confiscate them I really think things are going to get ugly (bloodshed). It sure would be a shrewd and criminal way for them to keep the social security ponzi scheme going for another generation.

The reason why I dont think there will be bloodshed is because most people will be told that the government is going to save for them. It depends on the language they use. Of course, we at RPF can see through the bs and know that it is really theft.

 

[muh_roads]

There isn't much to liquidate after the beatdown I've had.

 

[eric_cartman]

you can roll a 401K over into an IRA, so that you can pick which investments you want. you can give your 401K over to Euro Pac and have peter schiff take care of you. or you can roll it all over into gold if you wanted.

however, sometimes you can't roll your 401K over until you quit your job and retire. therefore, it might be good in some cases to quit your job, roll your 401K over, then get hired back at the same job. if your boss is nice and you tell him what you want to do, then maybe they can arrange it for you.

if you're stuck with your 401K ... try to pick a global equities fund or something that has stocks in foreign markets. or commodities, agriculture, energy, etc.

 

[Johnnybags]

Self Directed IRA

I just finished reading the recent books from schiff and paul. And I searched the site and can't find anything regarding their suggestions on 401k's? Should we liquidate? Should we stop contributing? If the gov't tries to confiscate them I really think things are going to get ugly (bloodshed). It sure would be a shrewd and criminal way for them to keep the social security ponzi scheme going for another generation.

Invested in raw land/farm located within a few hours of the dead zombie cities. Government cannot take your land without due compensation. South facing exposure, quality water from spring and fertile soil are a +.

http://finance.yahoo.com/focus-reti...-Directed-Real-Estate-IRAs?mod=retirement-IRA

 

[lodge939]

Schiff answered this on his radio show. He said you should move it into Europac, or, if that isn't an option, liquidate it.

 

[LibertyEagle]

Schiff answered this on his radio show. He said you should move it into Europac, or, if that isn't an option, liquidate it.

How would moving our IRAs to Europac do anything to stop the government from confiscating them?

 

[tmosley]

Depending on where they are located (ie outside of the US), they probably wouldn't recognize government seizure and continue to do business with the individual.

 

[lodge939]

How would moving our IRAs to Europac do anything to stop the government from confiscating them?

he was speaking from a perspective of making it worth something

 

[muh_roads]

however, sometimes you can't roll your 401K over until you quit your job and retire. therefore, it might be good in some cases to quit your job, roll your 401K over, then get hired back at the same job. if your boss is nice and you tell him what you want to do, then maybe they can arrange it for you.

That is illegal. Trust me I've already asked around.

 

[LibertyEagle]

he was speaking from a perspective of making it worth something

Yeah well, Europac's investments are down quite a lot, just like everyone else's.

 

[muh_roads]

Yeah well, Europac's investments are down quite a lot, just like everyone else's.

Exactly. I see no evidence that Asia has separated from the US yet. Until then, Europac foreign investments will most likely drop as the US continues to drop. China relies too much on fat Americans.

I believe Schiff will be correct in his assessment that Asia will one day come out ahead. But until then, you could buy into Europac investments now and still receive a further beat down if you do.

 

[lodge939]

Sure, if you bought 6 months ago you lost big. You're still gonna be up in the long run though. But now is the perfect time to buy. stocks are cheap as hell. they might go lower but who cares in the long term?

 

[HalogenFlood]

I was just looking into this exact issue. Glad I found this thread.

Gold is down and looks to go down a bit further before the inevitable tanking of the dollar (high inflation, what have you). Saw this article on gold seek that it may dip to as low as $628 in December:

http://news.goldseek.com/RickAckerman/1226325322.php

Thought it might make sense to liquidate my 401K and buy a bunch of Krugerrands at that point and then watch the value shoot up as the dollar withers. Thoughts?

I was reading up on 401Ks and it looks like you need to have a good reason to pull your money out of a 401K, like to pay medical bills. Is this true? Can I not just liquidate my 401K and take a tax hit anytime I want?

 

[tmosley]

I was just looking into this exact issue. Glad I found this thread.

Gold is down and looks to go down a bit further before the inevitable tanking of the dollar (high inflation, what have you). Saw this article on gold seek that it may dip to as low as $628 in December:

http://news.goldseek.com/RickAckerman/1226325322.php

Thought it might make sense to liquidate my 401K and buy a bunch of Krugerrands at that point and then watch the value shoot up as the dollar withers. Thoughts?

I was reading up on 401Ks and it looks like you need to have a good reason to pull your money out of a 401K, like to pay medical bills. Is this true? Can I not just liquidate my 401K and take a tax hit anytime I want?

Does that take into account the busting of the COMEX?

Didn't think so. Gold and silver are going through the roof in December (overnight doubling or tripling). After that, it's only up from there as inflation comes into play.

 

[Cleaner44]

Sure, if you bought 6 months ago you lost big. You're still gonna be up in the long run though. But now is the perfect time to buy. stocks are cheap as hell. they might go lower but who cares in the long term?

Wrong answer IMO. I refuse to buy assets that are declining in value and for good reason.

Pretend we both have $1000. Let's say you want to buy Ford because it dropped to $2.00, wow it's cheap as hell right? Just watch it go down to $.20 and then tell me how you feel.

During this same time period I buy a fund that is going up. 6 months from now you have 10% of your money left from your cheap buys and I have made 25% on my investments. Now if Ford still exists, I can buy many more shares at $.20 than you, even though we started with the same amount of money.

Screw the idea that things are cheap right now, it could get much much cheaper. Just ask someone that bought Fannie Mae in Aug because it had dropped all the way down to $4.40 or AIG or whatever.

The perfect time to buy will be at the bottom. Who knows when that will be so for now, buy assets that are gaining in value. Unless you believe we have hit bottom.

 

[WRellim]

I just finished reading the recent books from schiff and paul. And I searched the site and can't find anything regarding their suggestions on 401k's? Should we liquidate? Should we stop contributing? If the gov't tries to confiscate them I really think things are going to get ugly (bloodshed). It sure would be a shrewd and criminal way for them to keep the social security ponzi scheme going for another generation.

If you've waited this long... then just wait a bit longer, and Obama will take care of this for you.

cf http://www.ronpaulforums.com/showthread.php?t=168256