I know it is just confirmation, but it helps to see hard facts from today’s close:
Dow Jones Down 896 Down YTD: 16.02%
Nasdaq Down 530 Down YTD: 30.91%
S&P 500 Down 151 Down YTD: 21.33%
Let’s make an assumption that your retirement funds are equally split between these exchanges and that you had $200,000 in your account at the beginning of the year. You have lost $45,506 of your life’s savings since January. Couple that with a minimum of 10% inflation or $20,000 so far this year so you have lost $65,506 of your purchasing power for your golden years. It does not take a genius to see your life’s wealth and dreams falling apart overnight.
I have no money in retirement accounts or stock markets as I do not gamble. Especially in a rigged game. We have heard the horror stories of hyperinflation in other countries. We are now seeing this unfold in real time. If you are wondering how you will feed your family or drive to work, think about how you will survive when you retire.
David DeGerolamo
I am 45. I divested all the 401k money I had about a year ago, took the penalty and have nothing left there now. Was able to use that money to build my preps more.
I tried to get others to listen to me, to no avail.
You were very smart. God bless.
Thank you Jane. I am not that smart, I just read the tea leaves. Be blessed sister.
In 2013, at the age of 46, I quit the corporate rat race and began to build my farm. I put my whole six figger 401k into it. About $10,000 of that was soil amendments alone. Missed the big run up in the stock market. Will also miss the unwinding. But you should see my tomato plants. Wonder what 10,000 sq ft of prime garden space will be worth in the coming years. Prolly more’n the ol 401k.
I have an application in for a refund of my federal employment retirement funds…it took me 4 months to reach them and a month to filled out a simple form(feds need it filled out a certain way). I sent it in April 2022 and it is waiting to be downloaded into the system(they are now in March) and was told the average time for processing is 102 days. There is only one unit that processes the refunds for the entire system including military. So I have to wait a while for my direct deposit from which the IRS will take 20%, not fair, but nothing I can do.
I was also told the applications for refunds has been overwhelming since September 2021, people are not stupid, they see what is happening.
Oh my gosh. That is horrible!
Yep. Right there. Also, almost no social security. I think about this every day. I pray that, if an EMP doesn’t take out the grid, and we don’t go to war, that I can continue to grow as much food as possible, that I can somehow make enough money to pay my property taxes and electric bill, and take care of my wife and disabled child into my 80’s, maybe beyond if needed, assuming God sees fit to leave me here to be able to do that.
My greatest fear is becoming a burden to my family when I should be able to continue to be an asset, or to die, leaving them on their own to perform the tasks that, as a man, I should be able to do.
You already have the faith required. What little you have God will multiply in abundance. He knows your situation and will not leave you or your family wanting. Take care brother, remember, we were all called for such a time as this.
During the Great Depression the families that did well worked together as an extended family. Often because of troubles paying taxes they move in together as so the little money they could earn would keep the family house BEST for long term IN the family.
More wealthy families often bought a friends home so they would not be homeless. Sharecropping was a good way to keep them at work and in their homes.
Huge gardens, Grandma watching the kids and laundry from theft (yes, a LOT of theft of clothing and food then) kids helped and played by going fishing for family dinners. Trading services between families kept things going. Salvaging parts from broken vehicles and such kept things rolling. Money was mostly for Taxes and debt servicing as the Gov plus bankers were snatching the very bed out from under folks.
Farmers paid in kind so your family would get some milk by helping milk and care for the cows. Rabbits and Chicken were popular. THIS WAS Pre-Purina so folks knew what wild plants and tree branches were safe for cows, sheep, rabbits and such.
Sadly, today we will have all the above PLUS entitled thugs often protected by politicians (antifa, Burn Loot Murder, etc.) to deal with WITH the excellent chance the very government will put YOU in Jail as well as disarm your family for SELF DEFENCE.
As they seem to love up to post birth abortions, I say give them their fondest wish. Do onto others before they do….. Prevention, maybe a little fear-respect of those crazies perhaps? Might keep them out of your yard?
“ If you are wondering how you will feed your family or drive to work, think about how you will survive when you retire.”
“Retirement” will soon be a thing of the past. We’re fixing to find out why having large families with lots o’ kinds was always so common in time past. Now we abort them by the millions.
I got out of the market 15 years ago. Cashed in my 401K taking a 10% penalty and paying the taxes. Reinvested in tangibles. Over the last 15 years I’ve seen the stock market explode higher. I could have accrued a much larger treasure chest had I waited. That said, I’ve not had one sleepless night worrying about the collapse of the market. 15 years early was much better than a day late.
David is correct. The market is just like Las Vegas. The house always wins.
I am almost 64, plan to work another 18 months. I have only 25% of my savings in the stock market, I guess that is what I am willing to gamble. The rest is out or protected from market down turns. Also, I am debt free which is a great feeling. I now work because I choose to.
I sleep at night!
I know the market is rigged, also run by crazy liars who as an industry can’t be trusted; and routinely pays million and billion dollar fines to the SEC / DOJ.