Jaguarbass:
"That would be the time to go to cash, gold, war stocks, like Halburton and energy stocks."
That's what I've heard as well, precious metals, and if you must buy stocks, Defense and Energy stocks only.
Also, real estate -- agricultural -- so you can go live on the land if you ever have to, and grow your own grub.
401K, do you still have one?
by DJK 22 Replies latest jw friends
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abbagail
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abbagail
As for retirement accounts, The August Review posted an article about this back on November 7, 2008, which is where I first heard this...
DEMS TARGET PRIVATE RETIREMENT ACCOUNTS
http://www.augustreview.com/news_commentary/economy/dems_target_private_retirement_accounts_20081107104/
That article was originally posted in the Carolina Journal Online on November 4th:
Carolina Journal Exclusives
Dems Target Private Retirement Accounts
Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs
http://www.carolinajournal.com/exclusives/dems-target-private-retirement-accounts.html
Prison Planet got wind of it and also did an article on November 11th:
Government To Confiscate 401(k)s and IRAs For Mandatory Savings Tax?
Proposals to implement additional form of income tax while seizing private pensions raised in Congress
http://www.prisonplanet.com/government-to-confiscate-401ks-and-iras-for-mandatory-savings-tax.html
Also posted in the Right Side News Editorial Archives:
Democrats Target 401k and IRA Retirement Accounts
November 10, 2008
By Karen McMahan
http://www.rightsidenews.com/200811082544/editorial/democrats-target-401k-and-ira-retirement-accounts.html
So far it is only "discussions" but it pays to keep an eye on these buzzards in Congress.
/ag -
abbagail
Last week PBS' "FRONTLINE" program re-aired a show they did back in 2006 re: 401k's and Retirement Plans. Coincidentally, I had seen it the first time two years ago and felt so bad for that older guy who now has to drive a diesel truck for a living.
The show's title was: Can You Afford to Retire? The video is still at their website:
[...]
http://www.pbs.org/wgbh/pages/frontline/retirement/view/
The baby boomer generation is headed for a shock as it hits retirement: many of them will be long on life expectancy but short on savings. The two main strategies for funding retirement -- lifetime pensions and 401(k)-style savings plans -- are in serious trouble. In "Can You Afford to Retire?" FRONTLINE correspondent Hedrick Smith ("Is Wal-Mart Good for America?") investigates this looming financial crisis and the outlook for middle-class Americans. (more) >>
[...]
They also have this article that goes with it:
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What You Need To Know
http://www.pbs.org/wgbh/pages/frontline/retirement/need/
How many Americans working in the private sector have retirement plans?
What's the difference between employer-sponsored pension plans and 401(k) plans?
What are the advantages of 401(k) plans for employees?
What are the advantages of 401(k) plans for companies?
What are the pitfalls of 401(k) plans for employees?
What are the major mistakes workers make managing their 401(k)s?
What should be the combined employee/employer amount put into a 401(k) each year?
What can be done to make 401(k)s work well?
What happens when companies don't have enough money to fund their pensions?
How bad is the problem of corporations underfunding their pension trust funds?
Healthy companies are also freezing pension plans. How does that work?
What's being done to address the problem of underfunded pension trust funds?
[...]
Read/watch more at the above links.