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Rockntractor
08-18-2009, 09:33 AM
High today 86 it is 70 right now.


TOTD: We are headed down for a visit with our accountant today. I don’t have any confidence in the markets anymore with all the government intervention it isn’t safe right now. We are going to sell our stock in the 401k and convert it to precious metals. I no longer trust our dollar either. I am 100% pessimist about our economy. How do the rest of you feel?

Gingersnap
08-18-2009, 09:42 AM
Coolish today and cooler than normal for most of the week.

TOTD: We already did what we could to minimize our exposure. ;)

Rebel Yell
08-18-2009, 09:59 AM
Not as hot, but still muggy.

TOTD: I was broke to begin with.;):D

linda22003
08-18-2009, 10:02 AM
TOTD: We have been sitting in cash for quite awhile now, and have pretty limited exposure at the moment. I would never consider converting my assets into something as volatile as metals. I'm much more likely to take investment advice from Dave Ramsey than Gordon Liddy. :rolleyes:

Shannon
08-18-2009, 10:06 AM
What part of 9:00 EST time is so difficult?

linda22003
08-18-2009, 10:07 AM
What part of 9:00 EST time is so difficult?

Nothing, but we're on EDT.

Rockntractor
08-18-2009, 10:07 AM
TOTD: We have been sitting in cash for quite awhile now, and have pretty limited exposure at the moment. I would never consider converting my assets into something as volatile as metals. I'm much more likely to take investment advice from Dave Ramsey than Gordon Liddy. :rolleyes:

I have lost all confidence in our country and it's dollarLinda!

linda22003
08-18-2009, 10:08 AM
I have lost all confidence in our country and it's dollarLinda!

I will never lose confidence in my country. Its dollar is going to take a beating for awhile, but that's not going to change any of my plans.

Rockntractor
08-18-2009, 10:08 AM
What part of 9:00 EST time is so difficult?

I posted on time last week and you didn't even post so I said to hell with it!

linda22003
08-18-2009, 10:14 AM
How long have you been an investor, Rock? That may color your perceptions. I have personally been in the market since 1958, and my family has had market investments since the early twentieth century. You've got to take the long view to build inheritances.

Shannon
08-18-2009, 10:22 AM
Nothing, but we're on EDT.

I knew I was going to screw that up.

PoliCon
08-18-2009, 10:34 AM
TOTD - We made a conscious decision to invest heavily in mission work for the last few years and the returns there have been spectacular. :)

BadCat
08-18-2009, 10:53 AM
TOTD - We made a conscious decision to invest heavily in mission work for the last few years and the returns there have been spectacular. :)

Going to retire on those returns?

Rock, I wouldn't put it ALL in precious metals, but 20-30% would be a pretty good hedge.

Rockntractor
08-18-2009, 10:54 AM
How long have you been an investor, Rock? That may color your perceptions. I have personally been in the market since 1958, and my family has had market investments since the early twentieth century. You've got to take the long view to build inheritances.

We have been in the market since the mid 90's. My problem is our country has never experienced socialism to this degree. How can a market function with the government manipulating it. I used to have a lot of money in the market I day traded during the early 2000's. I quit and pulled most of the money out in early 04 and went into bussiness for myself. We also bought the lake property down south three years earlier. I am just as concerned with the dollar value plummeting. I would rather have something tangible right now than a paper promise!

lacarnut
08-18-2009, 12:07 PM
Hey Rock: Like Bad Cat says. I would not put more than 25% in precious metals. A mutual fund like USAA might be a good choice rather than investing in a single commodity like gold. Whatever you do with your 401k, make sure you can transfer it without paying taxes such as an IRA rollover.

I too believe it will be many years before this economy turns around. There is nothing wrong with being in mostly cash right now. If health care and cap and trade pass, the market will go down even further. Only pros and suckers are in this market of picking individual stocks. If the economy really turns sour, having cash on hand will present many opportunities to buy things on the cheap such as real estate. I am keeping my powder dry.

FlaGator
08-18-2009, 12:18 PM
High today 86 it is 70 right now.


TOTD: We are headed down for a visit with our accountant today. I donít have any confidence in the markets anymore with all the government intervention it isnít safe right now. We are going to sell our stock in the 401k and convert it to precious metals. I no longer trust our dollar either. I am 100% pessimist about our economy. How do the rest of you feel?

I wouldn't venture in to precious metals. They're probably at peek or near to it. Found so nice safe low yield product and ride things out. I picked up a bunch of bank stock when it was low (around 4 and 5 dollars and now most of them are around 15 to 17. When BofA stocks tanked I moved most of my 401k investments in to it and now it's really paying off.

Oh yeah, sun and rain baby, sun an rain.

Rockntractor
08-18-2009, 05:15 PM
Our accountent calmed me down a little. Were moving our 401k from the bank supervision over to his company and he will supervise it from now on. In a couple of weeks we will put a third to a half in gold and silver.

Teetop
08-18-2009, 05:24 PM
Our accountent calmed me down a little. Were moving our 401k from the bank supervision over to his company and he will supervise it from now on. In a couple of weeks we will put a third to a half in gold and silver.

Can't afford Platinum? :p :D

Glad he, or she, calmed you down.

Rockntractor
08-18-2009, 05:28 PM
Can't afford Platinum? :p :D

Glad he, or she, calmed you down.

For awhile maybe. I'm ready to dig a hole and build a bunker!

Bubba Dawg
08-18-2009, 07:15 PM
Good Luck Rock.

Firearms usually don't go down in value. I mean practical ones.

Rockntractor
08-18-2009, 07:43 PM
Good Luck Rock.

Firearms usually don't go down in value. I mean practical ones.

I just traded three guns that cost me 2400.00 for that mini-loader with a used value of 12000.00.

lacarnut
08-18-2009, 07:54 PM
Our accountent calmed me down a little. Were moving our 401k from the bank supervision over to his company and he will supervise it from now on. In a couple of weeks we will put a third to a half in gold and silver.

If you are hell bent on investing in gold and silver bullion or coins, request your accountant purchase them from Tulving.com. Min. purchases $20k. Their prices are the cheapest over spot. Kitco.com has pool accounts where they store your metals free of charge. Only a few dollars over spot and they will buy it back from you at a very small discount. Note, there is only 1 coin that is NOT reportable to the IRS by a dealer on sales over $10k and that is the US golden eagle coin. Also, Krugs & Maples are not as good a buy as eagles. A 1 ounce Eagle resale value will be higher than those two. Other foreign gold coins do not stack up as well either.

If I were you I would not put more than 25% in Gold coins. The possibility exists that the Feds could recall all the gold from citizens. They might confiscate your gold if prices doubled or tripled the current levels.

PoliCon
08-18-2009, 11:18 PM
We spent the day at an amusement park with my brothers family. Twas fun. :) I was greatly amused. . . .

RobJohnson
08-19-2009, 02:03 AM
Perfect day here. No clouds & no humidity.