convert 401K into physical metals?

[AmbiEncE]

Your 401 is going to zero along with the US dollar.

 

[titan2k10]

Your 401 is going to zero along with the US dollar.

Then precious metals will hold no value either.

 

[Seacap]

I’m thinking base metals might be a good investment (copper)..seems to be going up all the time..

 

[rotts4u]

Self Directed IRAs with Metals carry a LOT of fees. Storage fees, redemption fees etc etc. I looked into this years ago and decided NOT to do it. I like the concept on owning metals and do own both gold and silver. But I have been doing it outside the IRA. It's frankly a hassle to SELL metals. Buying is easy I use Grants coin in Dalton Ga or SD Bullion online depending on who is the best price. I buy under 10K at a time to avoid giving Tax ID info. But selling it is like selling a used Car. Its not easy,

 

[moosensquirrel]

Then precious metals will hold no value either.

Twisted thinking at best: Gold, silver and, copper have a 6000 year history of being "good money". However, there may be nothing to buy with it, at least initially.

 

[titan2k10]

Twisted thinking at best: Gold, silver and, copper have a 6000 year history of being "good money". However, there may be nothing to buy with it, at least initially.

I just don't understand how people believe that if all 401ks go to zero the world will recognize any sort of currency other than what they can eat or use to get food, let alone why they think they will survive that **** show scenario

 

[Clayton0728]

There are thousands of horror stories of people pulling out when the market was down because they got scared. Yet you never hear anyone say they made the right move pulling there money out early. The only people who get hurt on the roller coaster are the ones who jump off before the ride ends. But the stock while it's low and sit back and let it mature. You will be glad you did in a few years when everything settles down at 20 percent higher than it was a few years ago. Don't pull ANYTHING out. If you want to invest in precious metals then go for it but don't touch your 401K or and kind of IRA to do it.

 

[fz1boxer]

is it advisable to convert some of your 401K into physical metals? keep in mind there is a 20% penalty.

dont convert all but if you want security get out of debt first,mortgage,car loan, or credit cards,then buy some land then pm's..if you dont hold it you dont own it if you have a bank loan then they own it your just buying it from them.

 

[lostchild]

Is there people who really didn’t see this recession coming a mile away?

A pandemic and Democrats controlling the White House and Congress and the senate and gas prices spiked to the moon and 35% inflation ?

Any one of those by itself is enough to cause a recession .

Wait till they start raising the mortgage interest rates over and over .

Almost like jimmy carter is back in town .

Except no 15% cd rates yet… but we can’t get those ‘til home loans go back to that magic 17 1/2% rate of the early 80’s.

 

[lostchild]

Twisted thinking at best: Gold, silver and, copper have a 6000 year history of being "good money". However, there may be nothing to buy with it, at least initially.

Premiums on precious metals have me out of that market.