So if a person has a $1 million plus 401K, should they shift it to short term government securities.
How do you diversify to minimize risk in this crazy market?
I don’t have a good answer for retirement funds nor do I see any place to hide that much wealth, much less secure it.
The “government” seizes from those who saved to save those who did not. They will fail to protect those who did save from those who did not. This is our reality now and the real theft may simply be in the value of a dollar (the hidden tax of inflation).
It is obvious. Society is far more fragile than we think but not all “communities” are the same.
Someone will come along and suggest precious metals as if the government will somehow not seize that too. They just took peoples businesses and livelihood for a flu. They took away your rights to corporate worship. Private property may not be safe or “private” after others learn you have things of value.
We are in deep doo-doo friend. I wish I had an answer because I am now retirement eligible also and in the same boat. I have lost 25% of my “retirement” this year when you adjust for inflation and most of my “wealth” on paper remains in my house/acreage that my county taxes heavily. I don’t expect to see a dime of social security either or if I do it will be worthless.
I am more worried about my children and their future because they matter most. The cataclysm is coming and “security” will not be found by “investing” with those who caused it. When the government defaults on its debt the instruments will be worthless. When the government tries to inflate their way out of this mess the instruments will be worthless. They got you either way.
They will seize or try to seize anything for the “collective good” and they won’t be there to protect your “stuff” any more than your “investments”.
Hopefully you live in a good community (away from metro areas), have some stuff on hand to get over the hump and help those around you do the same, and most importantly you have faith!
This may not fall apart as fast as some think or it could. I don’t know. I kinda wish we would get it over with so I can help my kids navigate it, but that is why we try to teach them real life skills because they will need those more than ever!
Not a clue. I just see the trouble coming. If I knew the answer to that I’d already be rich!