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The guy who handles my IRA suggested I pull out of the market yesterday, and I agreed. No decision has been made yet as to where to go with the money. He suggested a money market for a month to see how things go, but I don't like that idea. He also suggested gold as a possibility.

I've liked the gold idea for awhile, but I wonder if its too late to go that route...I know JPM just predicted gold going to $2500 which would be great, but I'm not so sure about that...

I'm not a financially savvy guy (with investments) so I'm not sure what to do with the $27k. I don't like the idea of "riding it out" as I'm worried about things being worse than a simple double dip. I would appreciate any thoughts you guys/gals might have. Tia.
 

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Ready for the big "push"
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Are you debt free? If not, pay off all you can.

Stock up on food, water, necessities like clothes, socks, underwear, soap, toothpaste, OTC meds, guns and ammo.

Then and only then, start looking for somewhere to put your money.
 

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Patient Zero of WWZ
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First of all don't get all crazy. Things are rough financially right now, but don't go doing something you'll likely regret.

This is not advice, I'm not a financial adviser this is just what I did.

About 2 weeks ago I moved my 401k into a short term fixed income fund. The same one I put it in back in 08. It is part of the same fund family so I don't have to pay anything for doing this.


When I feel the market has bottomed I will go back to stocks. I doubled my money during the last stock market roller coaster by this strategy.

BTW this is called "Market Timing" and you should never do it.
 

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Discussion Starter · #5 ·
Have you pulled it out to cash or just pulled it out of whatever funds you had it in?
I only pulled it out of the funds. I wouldn't pull it out to cash and take the hit unless it was teotwawki. I'm now trying to decide what to do with it as an investment. Thanks.
 

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I only pulled it out of the funds. I wouldn't pull it out to cash and take the hit unless it was teotwawki. I'm now trying to decide what to do with it as an investment. Thanks.
Dont take this the wrong way but you should take a step back and maybe interview some advisors.

Why didnt this advisor have you out last month at the high if he is having you "time" the market?

The dow is up 300 today as Im typing this btw.

IF you are going to be in the market you need a diversified plan that includes periodic selling after runups and rebalancing as you age or your needs change.

Panic selling into a decline is never a good strategy.
 

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The guy who handles my IRA suggested I pull out of the market yesterday, and I agreed. No decision has been made yet as to where to go with the money. He suggested a money market for a month to see how things go, but I don't like that idea. He also suggested gold as a possibility.

I've liked the gold idea for awhile, but I wonder if its too late to go that route...I know JPM just predicted gold going to $2500 which would be great, but I'm not so sure about that...

I'm not a financially savvy guy (with investments) so I'm not sure what to do with the $27k. I don't like the idea of "riding it out" as I'm worried about things being worse than a simple double dip. I would appreciate any thoughts you guys/gals might have. Tia.
Gold has been riding a rocket lately, from a trading range of 1400-1500 to where it sits today. I doubt it will be a exponential rise to 2500. If it is, we're in more trouble, sooner, than we think.
 

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Remember The Alamo
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The guy who handles my IRA suggested I pull out of the market yesterday, and I agreed. No decision has been made yet as to where to go with the money. He suggested a money market for a month to see how things go, but I don't like that idea. He also suggested gold as a possibility.

I've liked the gold idea for awhile, but I wonder if its too late to go that route...I know JPM just predicted gold going to $2500 which would be great, but I'm not so sure about that...

I'm not a financially savvy guy (with investments) so I'm not sure what to do with the $27k. I don't like the idea of "riding it out" as I'm worried about things being worse than a simple double dip. I would appreciate any thoughts you guys/gals might have. Tia.
Just put it in a 6mth CD and watch things for while
 

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If the DOW ends up at 9500 in a few weeks, would you still consider it to be a bad decision? I'm not busting b*lls, just asking.
Absolute same position. You weren't in an IRA/ 401k for the "short run" anyhow........... were you? I was actually hoping for the bottom to be at about 9500 today. As it ended up, I sat on my free cash reserves.
 

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CD

Back in July 2008 I rolled over my 401K to a local credit union CD at 5% till August 2012. Told all my friends/family/customers not one person did it, oh well try getting 5% today
 

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The DOW came back today on short covering.

The market can't go straight up or down.

However, you have to place your bets and "ride" out one of these situations:

(1) The economy recovers, military and domestic expenditures are reduced = Dollar recovers = buy bonds.

(2) Inflation is coming and the dollar will lose 35% of its value over the next 12 months = Buy Gold & Silver funds.

(3) Dollar is collapsing and World Economic Hyper-Inflationary Depression will be here in 6-24 months.

Buy physical Gold and Silver and more food and water.


Whatever you decided, keep a couple of months of expenditures in cash, so you don't have to worry about not being able to pay bills if the banks stop working.
 

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Live Secret, Live Happy
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The guy who handles my IRA suggested I pull out of the market yesterday, and I agreed. No decision has been made yet as to where to go with the money. He suggested a money market for a month to see how things go, but I don't like that idea. He also suggested gold as a possibility.

I've liked the gold idea for awhile, but I wonder if its too late to go that route...I know JPM just predicted gold going to $2500 which would be great, but I'm not so sure about that...

I'm not a financially savvy guy (with investments) so I'm not sure what to do with the $27k. I don't like the idea of "riding it out" as I'm worried about things being worse than a simple double dip. I would appreciate any thoughts you guys/gals might have. Tia.
Depends on how old your are and when you think you will retire.

I transferred all my tax deferred investments into land, bonds, and gold when I was 5 yrs away from retirement.

Until then, I just rode out the dips.
 
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