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View Diary: David Stockman: “get out of the markets and hide out in cash” Corruption Of Capitalism (122 comments)

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  •  I did not say (0+ / 0-)

    to cash out your 401k, that's a stupid move (and I should know, since I did do that at a former job).

    But you have other options:
    1) Don't invest in a 401K, and put the money towards a ROTH or regular IRA, where you can direct where the money is invested (there are brokerages that only deal with environmentally responsible companies, for example) yourself. There are different tax rules for each option, so be sure to look into that as well.

    2) Most 401Ks have more than one option for investing your money. If you're worried about the stock market, put the money into a money market fund or similar low risk investment. You won't see much growth, but when the market crashes, you won't lose a lot of money, either.

    3) It's YOUR money- not spending a little time doing some research is simply not that hard with a computer at your fingertips. Most companies that manage 401Ks have lots of resources for amateur investors (like you and me) that make it less complicated and easier to understand.

    And by the way, I'm not an accountant, I'm a hog farmer who hates math. If I can do it, anyone can.

    “We are not a nation that says ‘don’t ask, don’t tell.’ We are a nation that says ‘out of many, we are one.’” -Barack Obama

    by skohayes on Mon Apr 01, 2013 at 03:03:55 PM PDT

    [ Parent ]

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