>expecting global market crash with shift from US$ as reserve currency >am rather impoverished, $500 liquid, $1,500 401k >want to buy precious metals (specifically silver rounds)
is it a bad idea to withdraw all the money from my 401k and buy precious metals with it? i was absolutely religious about protecting my 401k funds but now since my funds are in US dollars i am extremely nervous about the funds' security.
i am calling local coin shops but apparently there is a massive influx of people buying, it appears to be slowly becoming a scarce commodity. i was suggested to use an online vendor like "Kitco".
Try to withdraw from your 401k, see if they'll even let you Stop putting money in there unless they match 100% and you're certain that both you and the US financial system will survive until well after you're 65
Joshua Martinez
thx for the advice.
gonna attempt to withdraw everything using Vanguard, idk what kind of rules there are for this
Evan Thomas
You can't go wrong by buying metals because they keep their value pretty good and they are in your house and not in some jew bank. Since you live in the US fucking A I'd buy some guns / ammo too just in case. I invested 1/4 into precious metals, 2/4 in car/bike, the last 1/4 is in CASH.
seems pretty smart to me. i was going to buy a gun, but desu i am most worried about "the rulers" geocoding me, and they are using space-age military tech now which make guns look like potatoes
question: do you think $40 is a rip-off for a 1oz silver round? i see the "spot price" is around $26 but that is the lowest price on Kitco
Aaron Powell
ya that's something that concerns me a bit. but still even if you pay a premium in the end if US$ goes Zimbabwe money then even a loss is still a massive gain. + help small business boys
do you think $40 is too much for 1oz silver? i'm digging a bit online
Jordan Hernandez
> Read this thread mate, they've got a list of some bullion traders in the USA too, so you could compare the prices and shipping fees there.
Parker Jackson
My bad.
Xavier Wood
legend, thank you!
Andrew Sanchez
why does no one know about apmex? just buy your shit there. they dont rape you on price and they have a ton of shit. what is this "coin shop" and "kitco" bullshit. Use Apmex, nigger.
Logan Green
thanks bitch. ya those prices are way better actually
i am just a scrub lord and new to this stuff
Jonathan Wright
it's not just you. I see people shilling a ton of vendors and stuff in these threads but not Apmex, which is like the walmart of metals. Maybe that's why, idk.
Benjamin Smith
Some 401k plans allow for interest free loans against the value which is repaid by witholding payments over time from your paycheck. Do that if your plan supports it otherwise you take a huge tax hit for premature withdrawal. I've done both before for different circumstances and plans.
Justin Mitchell
>500 dollars liquid >1,500 in 401k you need to understand that you don't have 'funds' to preserve. Sure, you could invest that into silver or other commodities, but at the end of the day, even when everyone elses money goes to 0, you will still have only 2,000 dollars of silver (~80 oz maybe?). It won't magically be able to sustain you for the rest of your life, at most that would probably buy you a good plot of land or a brand new car. If you truly only have 2000 to spend, you should be investing that in food, self defense, water, maybe some medical supplies and books, etc. You do not have the funds to be concerned about long, long term, you only really have enough to be concerned about the near future and trying not to die. Basic supplies are going to get you way further, but you can buy a few coins if you want.
David Myers
listen the majority of people telling you to buy metals get all their investment advice from BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR MEANS BUY GOLD/SILVER. At the amount you have it's probably not worth trying to stack metals. Metals aren't liquid either so you're gonna be in hot shit one way or another.
I have a position but I have a high net worth so ymmv
Henry Moore
Dude you are broke as fuck. How are you gonna worry about preserving 1500 dollars
Aaron Collins
If I were poor I would be buying rolls of nickels from the bank at every opportunity.
Currently 0.08 worth of metal in each 0.05 coin, getting better by the month.
Levi Anderson
Do you want sensible advice or Any Forumsadvice?
If you wanna be sensible, then you don't have enough money to invest in anything really.
> save up a security sum that you can access immediately worth around 6 months or so of your expensise in case of emergency. Interest of no/little concern. > THEN start investing and diversivy. Just going into precious metals only is retarded. If somebody breaks into your home its gone in one swoop. Or you have to invest again for storage. Also if you might need to seel, price might be bad. > fixed deposits / ETFs / some crypto maybe / some metals maybe.
Bentley Perez
great point. ya, i am really that poor lol. your argument makes sense, better to buy the necessary stuff now then to buy tons of silver to trade for it later. but i think a little doomsday coin stash is still important (esp. in light of not spending it at once + hyperinflation), so maybe i will spend around a quarter on silver. then put half into important assets like said & of course another quarter for "not dying" funds
Henry Smith
If you do anything mechanical, I'd consider stocking up on tools+tooling as well. Being able to machine or weld replacement parts to broke shit is a useful and profitable skill in good times and god-tier in bad times.
Parker Bennett
hah, ya i need to ground myself a little.
idk much all i know is that the US$ is going the way of the dodo. so therefore i think the worst thing i could do is leave my funds in US dollars.
when you say "investing and diversify" do you mean stocks? or are you talking about physical assets? i am going to look into all the stuff you mentioned
