Thread: Question: What Does a Dollar Collapse Look Like? Help....

Originally Posted by escalade

www.shtfplan.com is an interesting website. On this site, you will find pathways to Gerald Celente, Jim Rogers, Peter Schiff, Marc Faber, etc. I, personally, pay attention to Bob Chapman (International Forecaster) and Celente (Trends Journal). They have both called too many cycles too many times to ignore. There is plenty of other info on this site as well....all the way from those who are concerned about political unrest to downright survival.

I follow Chapman and Celente like white on rice. Good thing they don't live closer or they'd never get rid of me. The thing is, they tell us what is coming, but they dont feel at liberty to say what to do about it - (except stock up on precious metals - which I can't afford.) They fascinate me.

Also Im addicted to SHTFP website....reading it and some others over the weekend is what really kicked me into gear as to what to do about our 401K.

Originally Posted by topsecret10

Watch this video http://www.youtube.com/watch?v=PTUY16CkS-k

TS, I don't have sound on my main PC, but will try and watch this on the iPod.

Related:
http://www.alipac.us/ftopict-163711.html

TS, here's the scoop without getting too wordy (I hope).

We live on about 65K a year. We don't have a lot of bills except an $1140 a month house payment and a $350 a month car payment. I think at this time we only have about 10K in our retirement and about 8K for kids college. (They are 8 and 10) Used to have a bit more in 401K until the bust of 2008. We have not given hardly anything to it partly out of laziness and lack of motivation especially after seeing a good chunk of it go bye bye. We believe there will not be SS for us when it's time to retire so we are in the process of looking to buy another house and rent this one out at about an $800 a month profit. The profit will go towards the new house payment for now. The house we are in, we owe about $158K on. Our thinking is, A. Rents will be much higher in 10 or 20 years if we can stick it out. B. If we sell both houses for something smaller later in life, we might have a decent chunk to live off of.

What I really need to know is, what to do about the 401K. Can we roll it over into something else without being taxed to death on it or should we just pull out all together? Or, is it best to just leave it alone?

Originally Posted by SicNTiredInSoCal

TS, here's the scoop without getting too wordy (I hope).

We live on about 65K a year. We don't have a lot of bills except an $1140 a month house payment and a $350 a month car payment. I think at this time we only have about 10K in our retirement and about 8K for kids college. (They are 8 and 10) Used to have a bit more in 401K until the bust of 2008. We have not given hardly anything to it partly out of laziness and lack of motivation especially after seeing a good chunk of it go bye bye. We believe there will not be SS for us when it's time to retire so we are in the process of looking to buy another house and rent this one out at about an $800 a month profit. The profit will go towards the new house payment for now. The house we are in, we owe about $158K on. Our thinking is, A. Rents will be much higher in 10 or 20 years if we can stick it out. B. If we sell both houses for something smaller later in life, we might have a decent chunk to live off of.

What I really need to know is, what to do about the 401K. Can we roll it over into something else without being taxed to death on it or should we just pull out all together? Or, is it best to just leave it alone?

I think most here hesitate to tell anyone where to put anyone 401 K or IRA etc, they might tell you one thing and you loose.... I can only say what I have done and I could be very wrong...This is what I have done ..I review where our money is invested, I try to diversify, have some in cash and some tips, some emerging markets, precious metals, large small foreign and US, just try and spread your risk out.

My feeling is one thing will go up another will go down hopefully you will equal out ...I go to a lot of different investment sites and read you can sign up for different free newsletters etc.do research etc... only you can decide for you...hope it helps some what.. Personally I like to sleep at night ...so I try and stay conservative as possible..


Kathyet

Steve, sorry to see times have been bad, job-wise, for you right now. We live hand to mouth every day in our household, we do not own a house, we have no savings and I can tell you, there was a time where we (with kids) were homeless. We just had friends who took us in, but you know that can only last so long till you just have to go elsewhere, so we took a shabby apartment in a crime and drug infested neighborhood.

We have since worked our way out of those times, and have a lot of hope for our potential futures, we do not live in fear from anything or anyone, we just know that things could get bad for the economy and we plan to be prepared just in case, not even just for ourselves but for our extended family.

I too feel angry about illegals taking jobs of Americans workers, you and millions of others being affected, this is the reason we work with ALIPAC to fight it, although after six years of being here, I realized it is a slow uphill battle, but it is one we plan to win.

The reason my husband and I plan to stock up is we have seen, even in good times, how tough it can get to feed ourselves when simply out of work...yet if times get worse in the markets, which could affect companies such as my husbands (where he is yet employed gratefully), we could take care of ourselves, that is the main reason, you just never know how things could pan out. Better safe than sorry.

Thanks Kathy, and thoughts and prayers going out to Steve. I know it's been a struggle for you. I have several friends in construction who are in the same boat.

I guess I came across as wanting someone to tell me what to do, but really I just wanted some ideas for options or maybe some stories on what others at ALIPAC might have done with their 401K's. Thats all....so I really appreciate all the help. I knew I could count on you guys.

Sounds like it's not time to hit the panic button yet. I'm still trying to imagine what it will look like when the almighty dollar crashes. I keep having these images pop up of people with wheelbarrows full of useless paper money trying to buy a loaf of bread....lol. Paranoid, I know, but from what I read online of the lengths some have gone thru to "prepare", makes me wonder if they know something I don't....

Originally Posted by SicNTiredInSoCal

Thanks Kathy, and thoughts and prayers going out to Steve. I know it's been a struggle for you. I have several friends in construction who are in the same boat.

I guess I came across as wanting someone to tell me what to do, but really I just wanted some ideas for options or maybe some stories on what others at ALIPAC might have done with their 401K's. Thats all....so I really appreciate all the help. I knew I could count on you guys.

Sounds like it's not time to hit the panic button yet. I'm still trying to imagine what it will look like when the almighty dollar crashes. I keep having these images pop up of people with wheelbarrows full of useless paper money trying to buy a loaf of bread....lol. Paranoid, I know, but from what I read online of the lengths some have gone thru to "prepare", makes me wonder if they know something I don't....

Well don't get me wrong I do try and stock up on things flour beans, soups rice, cereal, pasta, batteries, blankets medicine and bandages airborne has a big list things that have a reasonably long shelf life, but you can only stock up on somethings and so many things I don't have the room..Also some of the things on the airbornes board "basic survival" stuff is really good to read and save. I have book marked many for references..on gardening, seeds etc. as well as other information. Things you like or think you might need in the event of a problem.

I also sell some 20 year food for storage just for a mixture of long time storage stuff. I started selling it because I wanted to buy it and thought it would help towards accumulating it but that is only for extra if your interested in that kind of storage, it is it is called efoods my site is, http://kathyet.myefoods.com/. It might be a little expensive but it is extra just in case. I think is like 95cents a meal or something like that.You can check out the ingredients and etc.

You know it is impossible to do all that a lot of people are saying to do..All I can do is try and protect myself my family as much as I can and try to be self sufficient for a while.



Kathyet

Originally Posted by SicNTiredInSoCal

TS, here's the scoop without getting too wordy (I hope).

We live on about 65K a year. We don't have a lot of bills except an $1140 a month house payment and a $350 a month car payment. I think at this time we only have about 10K in our retirement and about 8K for kids college. (They are 8 and 10) Used to have a bit more in 401K until the bust of 2008. We have not given hardly anything to it partly out of laziness and lack of motivation especially after seeing a good chunk of it go bye bye. We believe there will not be SS for us when it's time to retire so we are in the process of looking to buy another house and rent this one out at about an $800 a month profit. The profit will go towards the new house payment for now. The house we are in, we owe about $158K on. Our thinking is, A. Rents will be much higher in 10 or 20 years if we can stick it out. B. If we sell both houses for something smaller later in life, we might have a decent chunk to live off of.

What I really need to know is, what to do about the 401K. Can we roll it over into something else without being taxed to death on it or should we just pull out all together? Or, is it best to just leave it alone?

Here's something for you to look at while I do some more research. http://individual.troweprice.com/public ... 3BE699AFA5 If you have Income of 65,000.00 per year,you should consider a dividend re-Investment plan (DRIP) You can contribute on your own (picking the Investments that you like for the LONG TERM. If you have the credit to pick up real estate right now,and then use the properties that you buy for rentals,I would say that this Is a solid (no-brainer) for the LONG TERM. Interest rates are low,and you can get decent houses In DECENT NEIGHBORHOODS all across the country for a resonable price at the present time. One thing to keep In mind though Is that the big banks are still sitting on MILLIONS of foreclosures,and at some point they will have to put them on the market. When this happens,you could see home prices go even lower..... TS

Becoming a member of AAII Is well worth the small fee to join ... http://www.aaii.com/