No. of Recommendations: 1
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....
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