Godlike Productions - Conspiracy Forum
Users Online Now: 2,022 (Who's On?)Visitors Today: 2,019,752
Pageviews Today: 2,852,305Threads Today: 764Posts Today: 15,307
11:34 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo

 
TylerCasals
Offer Upgrade

User ID: 1339468
United States
02/28/2013 05:34 PM

Report Abusive Post
Report Copyright Violation
Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Do you take it out. Pay the taxes and the fees. Consider if it moves you in to a new tax bracket and buy Gold? That's what I am thinking about and I think many of us on GLP might be thinking about.

Are there any experts that can chime in with some good advice?

Bueller?

Bueller?
I reserve the right to be ridiculous
Ice
ice

User ID: 26368049
United States
02/28/2013 05:40 PM

Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Can't eat Gold

What do you think will happen will make your
Decision.

Small gold coin

Stock up

Think about no Wal Mart

No Dr

Limited water

How far you want to take it?
You need to figure it out !
TylerCasals (OP)

User ID: 1339468
United States
02/28/2013 05:46 PM

Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Thanks for the reply. I already have food and water for a couple of months. Now I'm just trying not to lose what little savings I have.
I reserve the right to be ridiculous
Anonymous Coward
User ID: 1368022
United States
02/28/2013 05:52 PM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Do you take it out. Pay the taxes and the fees. Consider if it moves you in to a new tax bracket and buy Gold? That's what I am thinking about and I think many of us on GLP might be thinking about.

Are there any experts that can chime in with some good advice?

Bueller?

Bueller?
 Quoting: TylerCasals


We'll it really depends on what capital controls TPTB might implement if the economic SHTF happens.

For example, you may not even be able to take out your IRA, or they may institute a higher tax penalty for taking it out early.

What if they confiscate gold like FDR did in the 30's?
Ice
ice

User ID: 26368049
United States
02/28/2013 05:52 PM

Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Thanks for the reply. I already have food and water for a couple of months. Now I'm just trying not to lose what little savings I have.
 Quoting: TylerCasals


I understand

It's a hard call

I cashed out and bought investment grade
Diamonds and gold coin.

Land and assets I needed

I have cash 5 10 and 20s in about 10 locations
But in no bank.

It's still a hard call.
You need to figure it out !
chuckles
User ID: 2417276
United States
02/28/2013 05:53 PM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Or seize the IRA's and 401K's and issue you treasury bonds, which has been suggested!!!
TylerCasals (OP)

User ID: 1339468
United States
03/01/2013 11:52 AM

Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Yeah it is a tough call. What about investing in Swiss Francs? Any thoughts on that?
I reserve the right to be ridiculous
BRIEF
Rebel with morals

User ID: 381742
United States
03/01/2013 11:54 AM

Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
You'll end up with about half...you should already have an emergency fund and cash on hand, let the tax deferred accounts ride.
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
Anonymous Coward
User ID: 33740677
United States
03/01/2013 11:56 AM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Buy Dinars and you will be rich soon.. NOT!
Anonymous Coward
User ID: 27113427
United States
03/01/2013 12:01 PM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Buy land with natural water on or close to it.
The mountains are the best.

Invest in good seed stock (to include medicinal herbs) Learn natural ways and live as close to the land as possible.
Useless Cookie Eater

User ID: 29696048
United States
03/01/2013 12:06 PM

Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Do you take it out. Pay the taxes and the fees. Consider if it moves you in to a new tax bracket and buy Gold? That's what I am thinking about and I think many of us on GLP might be thinking about.

Are there any experts that can chime in with some good advice?

Bueller?

Bueller?
 Quoting: TylerCasals


Change your asset balance.
Move it to commodities and currency ETF's.
Anonymous Coward
User ID: 35139911
United States
03/01/2013 12:12 PM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
I am trying to find out if it is true that if you buy foreign coin (say Canadian Maple Leaf instead of US gold Eagle) that your money will be safe from being confiscated by the US gov't??? Anyone know?
Anonymous Coward
User ID: 9673104
United States
03/21/2013 11:25 AM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Ok, what is the advice NOW? With all that has gone down since this thread started, what do you all suggest?
Anonymous Coward
User ID: 9673104
United States
03/21/2013 11:26 AM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Ok, what is the advice NOW? With all that has gone down since this thread started, what do you all suggest?
 Quoting: Anonymous Coward 9673104


Those of you with IRAs and 401Ks, are you letting it ride?

Taking an early withdrawal on all or part?

Still deciding?

What?
Anonymous Coward
User ID: 9673104
United States
03/21/2013 11:27 AM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Ok, what is the advice NOW? With all that has gone down since this thread started, what do you all suggest?
 Quoting: Anonymous Coward 9673104


Those of you with IRAs and 401Ks, are you letting it ride?

Taking an early withdrawal on all or part?

Still deciding?

What?
 Quoting: Anonymous Coward 9673104


Very interested in opinions/advice!!!
Anonymous Coward
User ID: 9673104
United States
03/21/2013 11:30 AM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
I know this is weighing on your minds. Come on!!

INPUT PLEASE.
Anonymous Coward
User ID: 9673104
United States
03/21/2013 11:38 AM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
...
Anonymous Coward
User ID: 9673104
United States
03/21/2013 11:39 AM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
Anyone??
Anonymous Coward
User ID: 36605963
Indonesia
03/21/2013 11:40 AM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
dont buy gold, you cant eat gold its useless
Anonymous Coward
User ID: 36057814
United States
03/21/2013 12:05 PM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
I can't cash out my 401k until I leave my job. I looked at it. The chart has 3 lines.

Bottom line - My contribution - Say $10k
Middle line - Employers contribution - Say $3k
Top Line - Total amount in fund - Say $16k

The extra $3k from the top line is pure gain from investments over 10 years.

Now if you take the money out of your 401k, you get taxes, fees & penalties. (oh my!)

Taxes
I was going to get taxed on that $10k anyway. Whether it's 25% now or 25% when I made the money is irrelevant.
My original $10k will only be $7500 after taxes.
[25% of $3k employee match = $750] + [25% of $3k of profit = $750] = $1500 more in taxes
Total cash available after taxes for me: $12,000

I'm still $2000 ahead of my original contribution.

Fees & Penalties
This is usually around 10% and usually calculated prior to any taxes taken out. So my $16k is assessed a $1600 fee.

[$2000 ahead] - [$1600 fees] = $400 profit

Conclusion
1. You don't come out ahead, but you DO come out even (or slightly ahead) as if you never participated.
2. You can attempt to reinvest your cash into some other investment (precious metals, real estate, lead, etc.)
3. May get a piece of mind knowing that you won't lose out on all your money like you did in 2008 and you've waited 5 years to recover from.
Anonymous Coward
User ID: 9673104
United States
03/21/2013 12:14 PM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
I can't cash out my 401k until I leave my job. I looked at it. The chart has 3 lines.

Bottom line - My contribution - Say $10k
Middle line - Employers contribution - Say $3k
Top Line - Total amount in fund - Say $16k

The extra $3k from the top line is pure gain from investments over 10 years.

Now if you take the money out of your 401k, you get taxes, fees & penalties. (oh my!)

Taxes
I was going to get taxed on that $10k anyway. Whether it's 25% now or 25% when I made the money is irrelevant.
My original $10k will only be $7500 after taxes.
[25% of $3k employee match = $750] + [25% of $3k of profit = $750] = $1500 more in taxes
Total cash available after taxes for me: $12,000

I'm still $2000 ahead of my original contribution.

Fees & Penalties
This is usually around 10% and usually calculated prior to any taxes taken out. So my $16k is assessed a $1600 fee.

[$2000 ahead] - [$1600 fees] = $400 profit

Conclusion
1. You don't come out ahead, but you DO come out even (or slightly ahead) as if you never participated.
2. You can attempt to reinvest your cash into some other investment (precious metals, real estate, lead, etc.)
3. May get a piece of mind knowing that you won't lose out on all your money like you did in 2008 and you've waited 5 years to recover from.
 Quoting: Anonymous Coward 36057814


Thank you!! Yes, 2008 was brutal.
Anonymous Coward
User ID: 9673104
United States
03/21/2013 12:18 PM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
dont buy gold, you cant eat gold its useless
 Quoting: Anonymous Coward 36605963
Anonymous Coward
User ID: 13199824
United States
03/21/2013 12:26 PM
Report Abusive Post
Report Copyright Violation
Re: Let's Say you've got 15-20k in an IRA....the economy is about to tank...sooooo
am letting mine ride while the market is good, but i had moved to a state that has no state tax, so when i do close it out..I will not have to pay state tax on it..at least that is how i think it would work.


Not much in there now maybe 60K, if taken out early i figure maybe a loss of 40% of it.

Any other tips to close this baby down with out getting nickel and dime to death?

News