Re: Financial topics
Posted: Thu Oct 09, 2008 8:58 pm
Dear Graham,
makes me nervous.
If your 401K is backed by Treasuries, or is invested in FDIC-insured
bank CDs, then you're probably OK. If your 401K is backed by stocks,
then kiss it goodbye. Some 401Ks permit you to move your money from
one fund to another, without having to get divorced. You probably
don't have time to do the divorce/re-marry thing anyway.
If you're already skilled in using guns for self-defense, this would
be the time to bring your skills up to date.
Sincerely,
John
I don't know about credit cards -- Gordo says he loves it, but itGraham47 wrote: > John, for those of us that are pretty new to your website and
> don't have the time to research all you have said on how to avoid
> the current major melt down, what are the best bets to be safe?
> Is it wise to take cash advances on credit cards and stash the
> cash? Do you think people should stock up on food stuffs? My wife
> has 45k in her 401k and I have 25k in my deferred comp, both of
> which can't be taken out unless we lose our jobs or quit. I have
> heard the only other way to get at this money is to file for
> divorce, get the money and re-marry afterwards, is this worth it
> in your opinion or am I thinking crazy stuff here?
> My job is not in jeopardy, but my wife works for an airline and I
> expect it won't be long and they will go belly up (they are
> already hurting), so maybe we'll be able to get her money then.
> Or do I just invest in guns and ammo to protect what I do have!!
makes me nervous.
If your 401K is backed by Treasuries, or is invested in FDIC-insured
bank CDs, then you're probably OK. If your 401K is backed by stocks,
then kiss it goodbye. Some 401Ks permit you to move your money from
one fund to another, without having to get divorced. You probably
don't have time to do the divorce/re-marry thing anyway.
If you're already skilled in using guns for self-defense, this would
be the time to bring your skills up to date.
Sincerely,
John