I moved all my IRA and HSA investments to cash only last week, since I have direct control and theres no fees to reinvest later. 401k will stay untouched, hopefully it exists when I’m ready to retire.
It was. Is there a good reason why I should be confident that the money will still be there IF I get to retire? Should I expect even to live that long? I feel it’s better invested in a house and land out near the middle of nowhere.
Tax-free growth at compounding interest, beating inflation, diversification to mitigate risk & lessen volatility (eg, not putting eggs all in 1 basket).
Markets always have risk: if you’re really afraid of risk, you can shift to mostly low-risk types of investments (bonds, money market, cash equivalents, etc).
Real estate is typically considered riskier.
Retirement isn’t necessary: qualified distributions (no tax penalty) only require reaching a certain age or any of the many exceptions (including terminal illness).
Early distribution with tax penalty is always possible.
It’s all basic information a certified financial planner or advisor or some articles on the internet can tell you.
And why should I be confident that any of that is going to survive the next 4 years?
I’m not afraid of risk. I just spent the last month watching a couple of the world’s worst narcissists disassemble my government with ease so that they could loot us for every penny they can steal. They’re trying to kill every agency that benefits the public, including the one where I get my healthcare. These men are unfit to manage a fast food joint, but now they’ve got the planet’s #1 nuclear power by the throat. I weighed the probabilities and the penalties, then made my decision. I’d rather have the money now. I no longer expect to grow old.
Why should I be confident that our recent economy will survive? I pulled my money out before they could collapse the entire house of cards. I’m now in the process of buying remote land with a house on it. I plan to put up a few greenhouses and raise chickens and goats. I’ll provide shelter to persecuted people in need. Try to live solarpunk while we can.
Not saying you should.
The fact remains, though, you’re already investing it in real estate in an all-eggs-in-one-basket situation, inflation & property taxes are real, and insurance costs.
Real estate still has some risk compared to low-risk assets that appreciate: do you remember any recent real estate crashes?
Investment accounts are generally insured (against things going missing) up to high limits, and you can split them up to fit in those limits.
If it all goes to shit, practically none of it will be worth much anyway.
If armageddon doesn’t come to pass, you’ll be stuck with some property, livestock, crops, so not all bad.
I already pulled my retirement.
Was it not in a 401k or something?
I moved all my IRA and HSA investments to cash only last week, since I have direct control and theres no fees to reinvest later. 401k will stay untouched, hopefully it exists when I’m ready to retire.
It was. Is there a good reason why I should be confident that the money will still be there IF I get to retire? Should I expect even to live that long? I feel it’s better invested in a house and land out near the middle of nowhere.
Tax-free growth at compounding interest, beating inflation, diversification to mitigate risk & lessen volatility (eg, not putting eggs all in 1 basket). Markets always have risk: if you’re really afraid of risk, you can shift to mostly low-risk types of investments (bonds, money market, cash equivalents, etc). Real estate is typically considered riskier.
Retirement isn’t necessary: qualified distributions (no tax penalty) only require reaching a certain age or any of the many exceptions (including terminal illness). Early distribution with tax penalty is always possible.
It’s all basic information a certified financial planner or advisor or some articles on the internet can tell you.
And why should I be confident that any of that is going to survive the next 4 years?
I’m not afraid of risk. I just spent the last month watching a couple of the world’s worst narcissists disassemble my government with ease so that they could loot us for every penny they can steal. They’re trying to kill every agency that benefits the public, including the one where I get my healthcare. These men are unfit to manage a fast food joint, but now they’ve got the planet’s #1 nuclear power by the throat. I weighed the probabilities and the penalties, then made my decision. I’d rather have the money now. I no longer expect to grow old.
Why should I be confident that our recent economy will survive? I pulled my money out before they could collapse the entire house of cards. I’m now in the process of buying remote land with a house on it. I plan to put up a few greenhouses and raise chickens and goats. I’ll provide shelter to persecuted people in need. Try to live solarpunk while we can.
Not saying you should. The fact remains, though, you’re already investing it in real estate in an all-eggs-in-one-basket situation, inflation & property taxes are real, and insurance costs. Real estate still has some risk compared to low-risk assets that appreciate: do you remember any recent real estate crashes?
Investment accounts are generally insured (against things going missing) up to high limits, and you can split them up to fit in those limits.
If it all goes to shit, practically none of it will be worth much anyway. If armageddon doesn’t come to pass, you’ll be stuck with some property, livestock, crops, so not all bad.
Yep, seems the safer gamble to me. At least I’ll be happier than renting.