UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: Semper1 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74  
Subject: Big Decision Date: 11/6/2008 10:40 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I'm brand new to the boards, so if I violate any rules or board protocol, I apologize in advance. My reason for this post is to exude some wisdom and input from folks in similar situations. I am 61 years old, have a good position, and am relatively satisfied with working for a few more years. Have no debt, a pension, a 401K, and IRA's. However, at the risk of sounding like an alarmist, I am very afraid of the recession worsening, and perhaps resulting in the big "D". I have seriously been considering pulling the 401K/IRA's, and other investment type funds, and placing the proceeds in as safe a haven as I can find. Problem is where would you put it..... CD's, gold, bonds, bury it in the back yard??? Of course, professional financial advisors say to stay the course, problem is, I'm in my sixties and don't have time to recover from further losses. Has anyone else considered cashing in and burying their assets? I know that everyone has been asking this same question, but has anyone actually cashed in their 401K's/IRA's etc, due to recent losses/concerns and found a relatively safer place to park it. I know this sounds rash and maybe I'm over reacting to recent developments, but I can't be the only one thinking this way. I am not a sophisticated investor and have been more lucky than smart in accumulating my assets. I would appreciate idea's or thoughts along these lines. Thanks again....
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Apple

Apple and Ninety Years Ago
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement