Should I Cash in My Retirement Post Election? - Page 4

Flying-Dutchman · 11-12-2012, 08:05

Quote:

Originally Posted by Restless28

What if the gold isn't really gold? How can you be sure it's not just tungsten with gold veneer?

A small scale and measurement tools can be purchased cheaply at Harbor freight.

I ran this cashing in idea by an older relative who has done very well in life and is not a rash person.

Before I finished my sentence this person said, “Go ahead, I think it is a good idea to get out now.”

This was not the answer I expected.

cowboy1964 · 11-12-2012, 09:10

IF you do it you need to convert the funds into something other than U.S. dollars (gold/silver/whatever).

cowboy1964 · 11-12-2012, 09:15

Quote:

Originally Posted by Restless28

What if the gold isn't really gold? How can you be sure it's not just tungsten with gold veneer?

One reason to stick with American Eagles from a reputable dealer that buys direct from the U.S. mint.

Wake_jumper · 11-12-2012, 09:18

Quote:

Originally Posted by Geko45

No! The country is not coming to an end. We are in a rough patch, that is all. Nobody is going to be confiscating retirement accounts.

Seems more like a sink hole than a rough patch.

Retirement accounts will not be confiscated; participation in the Government Guaranteed Individual Retirement Program will be voluntary.

certifiedfunds · 11-12-2012, 09:22

Why should one person have more money at retirement than another person?

robertoh · 11-12-2012, 12:22

The Dems.,may be dumb but their not stupid,even they know seizing retirement accounts would crash the Economy since most are invested in the Stock Market,taxing the hell out of them may be another story.

certifiedfunds · 11-12-2012, 12:33

Quote:

Originally Posted by robertoh

The Dems.,may be dumb but their not stupid,even they know seizing retirement accounts would crash the Economy since most are invested in the Stock Market,taxing the hell out of them may be another story.

Same thing

Flying-Dutchman · 11-12-2012, 12:38

Quote:

Originally Posted by certifiedfunds

Same thing

Same with real estate around these parts.

They keep raising property taxes so they are now higher than your mortgage payment.

The standard view now is you are a subject paying rent to your lord and master, the .gov in the form of taxes.

certifiedfunds · 11-12-2012, 12:44

Quote:

Originally Posted by Flying-Dutchman

Same with real estate around these parts.

They keep raising property taxes so they are now higher than your mortgage payment.

The standard view now is you are a subject paying rent to your lord and master, the .gov in the form of taxes.

Yes but think of all the value you get for those taxes.

Bahahahaha

Sorry. Couldn't keep a straight face.

Atlas · 11-12-2012, 12:51

Quote:

Originally Posted by certifiedfunds

Same thing

Exactly.
How is this difficult to understand?

Stubudd · 11-12-2012, 14:10

Quote:

Originally Posted by certifiedfunds

Same thing

wow, over and over, i can't believe how much this keeps coming up. The most basic, fundamental misunderstanding

Stubudd · 11-12-2012, 14:11

Quote:

Originally Posted by Atlas

Exactly.
How is this difficult to understand?

Lifelong conditioning, from everywhere.

certifiedfunds · 11-12-2012, 14:26

Same way they'll come after guns.

With the IRS they can seize anything.

Resist and go to jail for tax evasion and suffer the scorn of your fellow citizens.

brickboy240 · 11-12-2012, 14:32

I don't know how so many people can still have faith in the market, 401ks and mutual funds.

My 401k and mutual funds lost almost 40% of their value twice in a span of 8 years. Once in 2000 and again in 08.

I was in pretty conservative funds as well. Ones with glowing brochures, telling me how much I would have by the age of 65. Give me a break! I am not even half way at age 47.

Get out now....you'll just build up and some "crisis" will come along and wipe out everything you have gained. Even if you ARE paying attention to it (like I was).

I have almost no faith in the stock market, 401ks or most retirement vehicles. Sure, at one time they were the way to go but not anymore.

-brickboy240

Glocksanity · 11-12-2012, 17:39

Quote:

Originally Posted by sheriff733

Well, it's extremely high, yes, but who knows about the future price.

I say that because GOLD DOES NOT HAVE VALUE. That's right. It does not.

Let me explain.

Gold is a commodity. It's only worth is what two people fighting over it will pay for it. If all of a sudden gravel rocks were a highly sought after item, we'd be paying through the nose for it too. The only value gold has is whatever another person deems it to be worth. That's a hell of a risky investment.

Gold is based on supply and demand. As you know, things that are based on supply and demand fluctuate in value. When things get really bad, it'll be just as valuable as the piece of green paper in your pocket.

It's all an illusion. Gold's value is not based on math. It's based on someone's opinion, and no way in the world would I bet my way of life on another person's opinion. I would advise you to do the same.

Could not the same argument be made for U.S. Dollars? They only have value because of someone's opinion of them? The U.S. Dollar is also subject to the laws of supply and demand. The more U.S. dollars that are printed, the less value they have.

So if both gold and U.S. dollars are subject to the same laws of supply and demand and U.S. dollars have an infinite supply and gold is very rare comparatively and cannot be created out of thin air like U.S. dollars, which one will be more valuable in the future? That would be gold. And that is why gold is only going to go up in price and maintain purchasing power versus the U.S. dollar.

Buy gold. It's a no brainer for those that have done their homework.