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How are you protecting investments

How are you protecting investments

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by: cgm10sne1 Active Indicator LED Icon 10 OP 
~ 8 years ago   Jul 30, '15 8:12am  
With the prediction of a global financial collapse, there will be many people who could very well lose everything. It just happened in China. So what will you do to make sure you have liquid assets? What if all the financial institutions crash and you can't get your hands on your money. I'm worried about my trust. I stand to lose a lot of money. @kwplanner what are your thoughts on this very real situation? Scary times are right around the corner with our investments. 401k could be wiped out. 4951
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cgm10sne1 Active Indicator LED Icon 10 OP 
~ 8 years ago   Jul 30, '15 8:13am  
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Ray Active Indicator LED Icon 17
~ 8 years ago   Jul 30, '15 8:28am  
Knights of Columbus. Not worried. Catholic church has been around longer than any of our financial institutions or government. 4951
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GoldenGirl Active Indicator LED Icon 15
~ 8 years ago   Jul 30, '15 8:54am  
I just stay the course...  I am not a dooms day kind of girl.  If I stay well diversified it will be fine.. It's the people who pull out of the market that will be crying in the end....  Some of my relatives sold all and went to gold and are not happy campers now....  4951
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KW_Planner Active Indicator LED Icon
~ 8 years ago   Jul 30, '15 9:35am  
@cgm10sne1Rule #1 in investing.....don't trade on emotions.  You will get burned every time.  Look, every economy goes through wild swings.  When it comes to the media, fear sells.  You will see doom and gloom headlines the moment the slightest sign of trouble appears.  Here's a newsflash.....no market crash is permanent - they always recover (yet the media seems to ignore that).  The only people who lose money are those who get emotional and sell all of their investments fearing a complete global collapse....and 9 times out of 10 they sell near the bottom of the downturn - just adding insult to injury.The whole Greece fiasco these past few months (whose negative effects on the U.S. markets was completely baseless, imo) was the initial spark of 'global concern' the media needed to spread fear.  Sure, China is a concern.  But it certainly does not make me want to sell everything I own, bury jars of cash throughout my backyard, and start digging an underground shelter stocked with rice and beans (and maybe a few cases of Corona).  Whatever happens with China, I have a confidence that things will recover and any paper losses will be recovered.All of that said, if you (and by 'you' I mean anyone reading this) are still concerned about how your portfolio is allocated and want a second opinion just let me know.  I will be more than happy to take a look at everything and give comments/recommendations.....no costs at all. 4951
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Sniper12 Active Indicator LED Icon 12
~ 8 years ago   Jul 30, '15 10:03am  
@cgm10sne1: THANKS... Been following this for years now, I have money outside the bank and I buy silver, and gold bullion as a back up,,, for Cheap long term food I buy from "LDS FOOD BANK" 4951
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Chrisinkingwood Active Indicator LED Icon 8
~ 8 years ago   Jul 30, '15 10:06am  
My dad always used to shrug his shoulders when their was a big down flux in the market and say, "it's just a paper loss, it will be there when I need it." And it pretty much was. As for me I'm still looking for that pot of gold to invest for my retirement! 4951
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KW_Planner Active Indicator LED Icon
~ 8 years ago   Jul 30, '15 10:34am  
 
@cgm10sne1: I didn't read this article until after I posted my initial reply.  This is exactly the type of fear-reporting I was referring to.  I read it from top to bottom and pinched a nerve in my neck from shaking my head back and forth so much.  If the global economy goes to hell in a hand basket, paper cash will have no value so why go through all the trouble of setting up bank accounts at 15 different banks and slowly pull all of your savings out?   And, sure, go ahead and cash out your 401k and subject yourself to penalties and unnecessary income taxes.  There aren't that many faster ways of losing wealth than following that logic.That being said, there are a few points the writer makes that I completely agree with: (1) pay cash for everything, and (2) pay off your mortgage and car loans as quick as possible.  However, I think my reasoning for advising this and the writer's reasoning are coming from two completely different directions.
4951
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cgm10sne1 Active Indicator LED Icon 10 OP 
~ 8 years ago   Aug 2, '15 4:20pm  
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Stealth83 Active Indicator LED Icon 16
~ 8 years ago   Aug 2, '15 5:16pm  
Removed By Request 4951
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HollyHobby Active Indicator LED Icon 9
~ 8 years ago   Aug 2, '15 6:57pm  
I'm not quite as sanguine about this as @KW_Planner, mostly because, as I've been following economic news, so many in the financial field have said, "We're in uncharted waters." That makes me nervous. 4951
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djchavez0921 Active Indicator LED Icon 10
~ 8 years ago   Aug 2, '15 7:35pm  
How's that saying go......only those who jump off a moving roller coaster get hurt? Or something like that. I'm not changing anything. 4951
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friday1 Active Indicator LED Icon 9
~ 8 years ago   Aug 2, '15 7:37pm  
I have nothing anyway so I have nothing to loose. I wont panic I am fat already I feel sorry for you skinny people. 4951
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cgm10sne1 Active Indicator LED Icon 10 OP 
~ 8 years ago   Aug 2, '15 7:46pm  
I just thought it an interesting perspective. Take what you want from the article and blow off the rest. That is all! 4951
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MTechnique Active Indicator LED Icon 4
~ 8 years ago   Aug 2, '15 8:19pm  
I invest in lead, brass, billet aluminum and composite plastic. They sort of protect themselves :-) 4951
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Stealth83 Active Indicator LED Icon 16
~ 8 years ago   Aug 2, '15 8:27pm  
Removed By Request 4951
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