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View Diary: If the Euro fails. (282 comments)

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  •  What if your $$ is in 401(k) plans offered by... (4+ / 0-)

    ...your employer? Are you able to pull it out, then, and invest it in treasuries or CDs?

    I'm not a finance person, either, and don't have a clue re: what do about investments, other than the contribution I make every month to my retirement plan via my work. :(

    •  most 401ks have multiple options. (6+ / 0-)

      Your plan documents or web site should give a list.

      -7.75 -4.67

      "Freedom's just another word for nothing left to lose."

      There are no Christians in foxholes.

      by Odysseus on Sun Nov 27, 2011 at 05:29:14 PM PST

      [ Parent ]

    •  Pick the option with the most treasuries; (2+ / 0-)
      Recommended by:
      doingbusinessas, boofdah

      hopefully there is someone who can advise you on this.

      If you ask for the safest option, don't be surprised if they tell you money funds are safe.

      If the shit hits the fan, a bond fund with lots of treasuries is probably safer, which is to say, money funds won't be that great.

      Sorry to go on at such length.  My advice and 50 cents will not get you cup of coffee most places.  However, my words might provoke a worthwhile thought process on your part, which hopefully could turn out well.

      I think the comment by Odysseus in this thread is a good starting point.

      The hungry judges soon the sentence sign, And wretches hang, that jurymen may dine.

      by magnetics on Sun Nov 27, 2011 at 08:02:35 PM PST

      [ Parent ]

    •  We need a new breed of financial advisor (2+ / 0-)
      Recommended by:
      magnetics, boofdah

      who can talk sense about what the best options are.

      Not the kind of 'advisor' who is marketing financial 'products.'

      Is this so hard? My CPA, who calculates my taxes, is worthless in this area. I'd pay good money for responsible advice. Right now this site, excellent as it is, is all I've got.

      I can pull my IRA money out of mutual funds, put it in a credit union - but know that the credit unions too may have one foot in the market, or would be on thin ice in a prolonged depression.

      By the way, the last time I withdrew IRA funds, well within the margin of RMD (in October), I was told I could not withdraw again until late in December. It's clear the 1% are already further protecting themselves.

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