10:20 pm (Hawaii) I used to believe in 401(k) plans and stuff like that. To an extent, I still do. But there are so many unstable issues, factors that are unavoidable, when hard-earned dollars are tied into equities. It gets more complicated now with the possibility of a bill that would reduce the number of loans a working citizen can take out of his/her 401(k).
The government is changing rules in midstream all the time, but this is really going to be tough pill to swallow for most folks. Is it fair? No. But times are tough from top to bottom for most people. But this is probably just the start of the Fed's manipulation of retirement accounts. It's a given. We owe, as a country, $3 trillion to China. The national debt is nearly five times that amount and growing by the second.
Dollars? Not quite what they used to be. If there's one tenet that still holds water, it's the necessity of diversity. And speaking of water, liquidity is just as important. That's why I like precious metals. That's why I don't trust the notion of holding almost anything paper overnight (no flash crashes for me anymore). And retirement money (electronic, really) that can be raided by the Fed? Not such a good idea for the modest assets of most citizens like me. I don't need a lot to be happy. I just want to be protected in the long run, and that means embracing diversity and liquidity.
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