Buy physical silver and gold. They’re both at a great price right now. He's asking about his 401k plan which doesn't allow for such purchases. WRONG!
The 401k system allows for the purchase of gold and silver and I'm not talking about the ETF's. The funds can be used to purchase physical gold and silver that is segregated and placed in a safety deposit box.
If it's managed by your company these options may not be available.
Sure it does.. My close friend has the formula for success: Withdraw the funds, take the penalty and taxes hit, buy physical silver and gold then wait 5 years. Even with the taxes hit, you will STILL be ahead in the long run than if you'd kept your money in your IRA. I don't have the luxury of doing such a thing but she did just that. She's taking the hit but has charted the whole thing out and says she'll get the last laugh in 5 years. I thought she was crazy but actually made me a believer. A Romney win could impact this strategy but is good for the country. An 0bama win would make this strategy a smart one but bad for the country. No worries, we are ALL voting for Romney 'for our country'!!
P.S. You CAN buy gold and silver with your IRA, it's called a Precious Metals IRA.. You don't possess the metals but the custodian 'keeps it for you' in a vault. Somewhat risky but you CAN 'buy' PM's with your IRA.