Retirement planning

[Parkanzky]

I'll offer you two pictures in lieu of several thousand words.

You're missing my point. Those plots certainly call the value of cash into question. I'm asking what the intrinsic value of gold and silver are. What, in your mind, makes gold worth many hundreds of dollars an ounce. Is that value logical?

 

[Parkanzky]

If I am correct - holding precious metals makes all the sense in the world. My preference is silver because it's easier to buy in smaller value increments and thereby easier to use for personal transactions if that becomes a necessity.

I don't personally consider precious metals as part of my "retirement" planning. Instead, I see them as worst-case protection.

Hilarious!

Have you thought this through at all? So when that "worst-case" happens and hyper-inflation devalues the US Dollar to zero, you honestly believe that someone will trade you something of real value for your shiny bits of metal?!?!

If you insist on stockpiling things for socio-economic collapse, I'd recommend you choose things with value like agricultural supplies, reloading materials, food, and fuel. If there is no working economy, i won't trade away anything useful for some soft metal.

 

[KiotiKowboy]

Precious metals are somewhat finite - as in there is only so much. Cash, is as plentiful as paper and ink - having whatever credibility and value a society is willing to bestow at a given time.

Our monetary system, being removed from the gold standard, is basically nothing more than piles of counterfeit currency backed by a big "trust me" from your government. Frankly, even using a coal standard would be better than what we have today.

The metals, and certain other finite materials, have value in everything from manufacturing to jewelry. They will always be in demand.

 

[Tomtint]

As stated, a very negative outlook. Investments are taxed now when withdrawn unless taxed before investing. Got that bunker built yet? You guys crack me up.

Correct, investments are either taxed before or after as it is now. As this country slides further I to debt, lawmakers will look to bag more and more of the gains from all investments. Which will mean double or Tripple taxation. IMO, there are better options than the roulette wheel that is the stock market. As it is now, it is likely among the most corrupt street in the world, and will only get worse in the coming years.

 

[riptides]

I guess I share the negative too... experience has taught me that promises are not kept and when it is all said and done you can only count on yourself...

I took a pay cut in exchange for benefits about 15 years ago... through mergers and acquisitions... the benefits I bargained for no longer exist.
As I came on board there were others retiring and all had built a nice nest egg and some were almost oblivious how it happened... they signed up for company stock and 401k up to the match when they came on board... the company stock did phenomenal... it wasn't a year when the company went private and shares were called in... I guess some saw how well the retiring employees had done.

People will tell me we still have Jobs... and my reply is Jobs died and someone else is at Apple now...

I lived through many "mergers". Even as the controling company, the employee benefits always managed to be "right sized", or "raised to the highest lowest" benefit presented by the two companies. During the aquistions one could always count on something leaving your comfort zone.

Looking back on a career of coporate work, those benefits I had when I started would make a good fantasy/reality show. Even google benefits of today pale in comparision to those offered so many years ago. My how times have changed.

 

[Citydude]

Correct, investments are either taxed before or after as it is now. As this country slides further I to debt, lawmakers will look to bag more and more of the gains from all investments. Which will mean double or Tripple taxation. IMO, there are better options than the roulette wheel that is the stock market. As it is now, it is likely among the most corrupt street in the world, and will only get worse in the coming years.

Hum, I'm stumped as to how Wall Street is corrupt as a whole. There is certainly criminal activity involved in trading, Martha Stewart a good example. Where there's vast sums of money exchanged, there's crime. We will never get around that. As far as taxes, yes they suck however at the moment I'm not ready to relocate to another country which, by the way, is an option for all of us. Speaking for myself, if I hadn't invested in American business through mutual funds for the last 20 years, I would have missed a great opportunity to retire in comfort early. To each their own.

 

[RobA]

I'm asking what the intrinsic value of gold and silver are. What, in your mind, makes gold worth many hundreds of dollars an ounce. Is that value logical?

+1

Hum, I'm stumped as to how Wall Street is corrupt as a whole.

+1

 

[dmccarty]

I keep forgetting to mention...

The OP should consider an Health Savings Account(HSA) insurance plan if one is available. The HSA allows you to save tax free dollars for health care expenses and the money rolls to the next year if it has not been spent. If I had had such a plan when I was younger, we would be much better off money wise, since this money stays around until spent.

Later,
Dan

 

[forgeblast]

Our HSA just allowed us to roll over $500 of unused money, otherwise we lost it. I wish we had a hsa when we were doing IVF's.

 

[buckeyefarmer]

Our HSA just allowed us to roll over $500 of unused money, otherwise we lost it. I wish we had a hsa when we were doing IVF's.

FSA (Flex spending accounts) are use it or lose it. HSA (health savings accounts) you don't lose, it's like a health insurance 401k plan, money goes in tax exempt.