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Fuzz (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:34 AM Original message |
Should we be converting our 401k's and other retirement/kid's college money into cash? |
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Marrah_G (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:36 AM Response to Original message |
1. I have a friend who is closing out all her accounts but one for paying bills. |
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adigal (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:36 AM Response to Original message |
2. I have been thinking about that |
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Fuzz (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:39 AM Response to Reply #2 |
4. I'm a little ignorant on this stuff, but can't you tell them (whomever you've invested with) to just |
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bvar22 (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 12:18 PM Response to Reply #2 |
14. We did that in 2006/2007, |
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fascisthunter (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:38 AM Response to Original message |
3. I lose more than I gain from my 401k... |
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Fuzz (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:40 AM Response to Reply #3 |
5. Depends on who you invest with I guess, and of course the market. |
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rucky (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:43 AM Response to Original message |
6. Can't really count on cash, either. |
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NeedleCast (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:45 AM Response to Original message |
7. No |
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NNN0LHI (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:47 AM Response to Original message |
8. Be better to negotiate a defined benefit pension plan through your employer if possible |
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CTyankee (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:52 PM Response to Reply #8 |
28. I think defined benefit plans are a thing of the past, except for some union members. |
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CountAllVotes (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 02:04 PM Response to Reply #28 |
30. I'm in a defined benefit plan |
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FreeJoe (331 posts) Send PM | Profile | Ignore | Fri Jul-15-11 06:10 PM Response to Reply #28 |
43. I'm not union, |
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elleng (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:49 AM Response to Original message |
9. No, Hold, know when to Fold. |
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lapislzi (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 11:54 AM Response to Original message |
10. Not as easy as it sounds |
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CountAllVotes (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 12:03 PM Response to Original message |
11. why are you thinking of doing this? |
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smirkymonkey (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:29 PM Response to Reply #11 |
25. Most 401K's have a Money Market option, so you can convert |
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CountAllVotes (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:35 PM Response to Reply #25 |
26. well, I can't blame you |
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smirkymonkey (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:57 PM Response to Reply #26 |
29. Thanks! However, I am making absolutely zilch too, but at least |
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Scuba (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 12:05 PM Response to Original message |
12. I converted all mine from the stock market into bonds in 2007.... |
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JoePhilly (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 02:15 PM Response to Reply #12 |
33. If you held from 2007 to now in Stocks, you didn;t lose half. |
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Scuba (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 03:49 PM Response to Reply #33 |
35. You may be technically correct.... |
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JoePhilly (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 04:28 PM Response to Reply #35 |
37. OK ... some more on this ... |
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Scuba (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 04:51 PM Response to Reply #37 |
39. Thank you. I think we're basically in agreement. I've been retired.... |
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JoePhilly (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 04:55 PM Response to Reply #39 |
41. Makes sense .... and good luck ... |
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bvar22 (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 12:06 PM Response to Original message |
13. I can't offer you any advice, |
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adigal (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:07 PM Response to Reply #13 |
20. You sound like my friend, who is convinced with global warming, |
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bvar22 (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:22 PM Response to Reply #20 |
23. We aren't really "survivalists", |
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adigal (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:47 PM Response to Reply #23 |
27. I hope The Big Crunch never happens, either!! |
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napi21 (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 12:40 PM Response to Original message |
15. I spoke to my broker about that very thing and he said O. He's with Edward Jones, |
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slackmaster (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 12:42 PM Response to Original message |
16. Yes, and you should sell me your house for 50% of its present market value |
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Fuzz (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 12:51 PM Response to Reply #16 |
19. Wow, is that an over-reaction. |
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Incitatus (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:26 PM Response to Reply #16 |
24. I like the idea, but I don't think my wife will agree to it. nt |
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Swede (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 12:49 PM Response to Original message |
17. Only if you need all the money today. |
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scheming daemons (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 12:51 PM Response to Original message |
18. After two rounds of quantitative easening... and another maybe coming... cash is a bad place to be |
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truebrit71 (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:13 PM Response to Original message |
21. Are you talking about taking it out (and paying the penalties) or are you talking about... |
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Dappleganger (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 01:22 PM Response to Original message |
22. All my savings is in my Retirement Pantry. |
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RebelOne (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 02:11 PM Response to Reply #22 |
32. Mine too. Put mine into my savings account until I can find |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 02:06 PM Response to Original message |
31. I would keep stop losses close.. |
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cottonseed (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 02:24 PM Response to Original message |
34. Sell it all and buy cattle. As much cattle as you can get our hands on. |
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RebelOne (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 04:05 PM Response to Reply #34 |
36. I don't think I will be doing that, as I am a vegetarian |
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bvar22 (1000+ posts) Send PM | Profile | Ignore | Sat Jul-16-11 10:39 AM Response to Reply #36 |
45. Not gold, and especially not now. |
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Ilsa (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 04:48 PM Response to Original message |
38. It depends on how soon you think you'll need the cash. |
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JVS (1000+ posts) Send PM | Profile | Ignore | Fri Jul-15-11 04:53 PM Response to Original message |
40. Not cash, bourbon. Lots and lots of bourbon. The bottled in bond 100 proof stuff. |
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FreeJoe (331 posts) Send PM | Profile | Ignore | Fri Jul-15-11 06:09 PM Response to Original message |
42. I don't think so |
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LibwithGuns (10 posts) Send PM | Profile | Ignore | Fri Jul-15-11 07:01 PM Response to Original message |
44. The Best Investments One Can Make Now are |
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leeroysphitz (1000+ posts) Send PM | Profile | Ignore | Sat Jul-16-11 10:48 AM Response to Original message |
46. Yes, absolutely and then you must use that cash to buy gold. As much gold as possible. |
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