i tried to cash out my 401K and was told only if i get laid off, fired or quit... and none of the above are gonna happen so i'm screwed
Posted on 11/10/2012 7:03:28 AM PST by blam
Markets Eye 4 Horsemen Of Obama’s Second Term
By Rachel Koning Beals
Nov. 9, 2012, 5:20 p.m. EST
CHICAGO (MarketWatch) — Whether you exhaled or gasped over the presidential election result, there’s no denying what comes next: A deficit and budget slugfest that will play out against a vulnerable U.S. economic recovery and Europe’s own debt mop-up.
That means if you believe that the so-called fiscal cliff, in the shape of a planned $600 billion of federal spending cuts and higher taxes, threatens the growth-stock strategies favored during the election runup, it may be time for a little insurance.
President Barack Obama on Friday, in his first public statements at the White House since winning reelection, will call on Congress to take steps to help the economy and reduce the deficit, Laura Meckler reports on the News Hub.
Stock-market Armageddon portfolio? Not quite. Canned beans? You bet.
David Rosenberg, Chief Economist & Strategist at Toronto-based investment manager Gluskin Sheff + Associates, trotted out his “four horsemen of risk” in an August commentary, a time when trading screens flashed green and candidates’ grins flashed white.
Rosenberg’s sober point then and now: The White House occupant won’t matter much because: Europe is unstable; severe drought drove up food prices in the U.S. and globally (so, yes, we need to talk about inflation): demand for U.S. exports is weakening, and the fiscal cliff, which he says threatens to erase three- to five- percentage points from U.S. GDP.
So, how do investors position their portfolios against the four horsemen of President Barack Obama’s second term? First, look at each risk individually:
1. Europe
Central bankers in developed nations will be reluctant to raise interest rates while Europe drags down global growth.
With that in mind, bond and exchange-trade fund strategists
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(Excerpt) Read more at marketwatch.com ...
i tried to cash out my 401K and was told only if i get laid off, fired or quit... and none of the above are gonna happen so i'm screwed
*Disclaimer - I'm not telling you what to do, I'm telling you of an option.
Who knew the most terrifying of all would be “the comfy chair”
i have stopped my contributions and they did mention money market accounts but it's still tied up and in dollars not physical silver or gold... what's your opinion on MM accounts? thankx in advance
Surely it can be moved to an IRA
The problem with investments is liquidity.
A man needs a bug out plan.
Yep, 80% to money market, 20% gold stocks was my move.
i can do that but what i wanted to do was put it into real silver are there advantages to an IRA vs a 401K? i know i should look into them more
I am no expert.
But I have always had a bugaboo about liquidity.
When the SHTF I don’t want to be messing with brokers.
https://www.youtube.com/watch?v=fN2AXsF-kwc
LOL
Repo Men, a whole different ballgame... https://www.youtube.com/watch?v=jl9Nvg4yuus
Whoaaa!
Difficult Terms
thx
You’re welcome :)
i moved my 401 to a MM today... thx
i moved my 401 to a MM today... thx
You’re welcome.
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