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Old 11-28-2012, 02:36 PM   #1
vettecop
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Fiscal Cliff and 401(k) contributions

With all the gloom and doom in the media about the fiscal cliff, is anyone considering changes to their 401(k) to protect your investment from major losses in the event is does happen?
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Old 11-28-2012, 06:56 PM   #2
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With all the gloom and doom in the media about the fiscal cliff, is anyone considering changes to their 401(k) to protect your investment from major losses in the event is does happen?
There some things missing here that make an answer difficult.

Like how old you are. The older the less risk you should have.

Does your company match any anything?

If so Max out the match. Let's say they match 50% up to 6% of your gross. You max at the 6% they kick in 50%
You are already making 50% right there in the first year.

My advice is to try to keep that conservative.

If you have another IRA from a previous employment ( 401k turned IRA because you left) you can play a little loose with that if want. Trick is to keep your money and risk only what you think you can loose.

This market is anybody's ballgame right now. I would wait until the cliff mess is over.

Some safe things to look at outside of the U.S. is bonds in some solid countries.

Anyway I could go on and on and I do not know anything about you personally like age, goals, risk tolerance, liabilities, etc.

Advice in this forum?

Talk to someone you trust. This is kinda what I do for a living..

OMG!!now you know
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I'm not saying let's go kill all the stupid people...I'm just saying let's remove all the warning labels and let the problem sort itself out.
Old 11-28-2012, 10:25 PM   #3
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Trick is to keep your money and risk only what you think you can loose.

.... and that would wise in any market. Banks aren't giving you anything for your money, so keep that in mind. Tangible Silver (not ETF's) is also a good longterm bet. Won't break your bank...just an .oz or 2 each payday, plus you'll ALWAYS have REAL money in the future.

Having said that, talk with a credible advisor and check their backgrounds and track records. Most are out just to take your money.
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Old 11-29-2012, 05:40 AM   #4
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....
Having said that, talk with a credible advisor and check their backgrounds and track records. Most are out just to take your money.



Also make sure they are independent and not pushing their own products.
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I'm not saying let's go kill all the stupid people...I'm just saying let's remove all the warning labels and let the problem sort itself out.
Old 11-29-2012, 05:44 AM   #5
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Also make sure they are independent and not pushing their own products.
Indeed!
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