Time to Protect Your 401k
What will happen to your 401k and other tax-sheltered plans if the stock market crashes? For the answer, simply phone your plan’s administrator and ask what happened last time. We’ll wait…
Just as we thought, your plan crashed along with the market, right? So if the market crashes again, what do you think will happen again?
It might be a good idea to really think this through because today we ask you, Dear Reader…
Michael Snyder at Activist Post: “Is the stock market going to crash by the end of this year? Are we on the verge of major financial chaos on a global scale?… Technical indicators are screaming that a stock market decline is imminent and sources in the financial industry all over the world are warning that a massive crisis is on the way… The truth is that the second half of 2012 looks a little bit more like the second half of 2008 with each passing day… Bob Janjuah of Nomura Securities has been saying…’over the August to November period I am looking for… global equity markets fall by 20% to 25% from current levels’… Bank of America analysts said… ‘Our strategists see an unusually high number of macro catalysts over the next 3-6 months that could take markets lower’…”
Millions of Americans have 401k and other tax-sheltered plans at their place of employment. Millions more have several plans still being managed at firms they no longer work for. Most of these people have no idea whatsoever what stock and bond funds those plans even hold, let alone who is managing them.
Can you imagine? These plans constitute a core component of their retirement planning and they have no idea where they stand, let alone a strategy for managing them themselves. The consequences boggle the mind.
Many (most?) of these folks falsely believe that they have no access to those funds. That’s not true. It’s your money, after all. You can always cancel the plan, withdraw the funds, eat the penalty and pay the taxes on the withdrawals. Or you can leave your money in the hands of anonymous managers and get what you get.
At Prism Solutions we don’t have a tax-deferred employee plan. We work for ourselves. We put our money to work where it can get the best return with the lowest proportional amount of risk (by using our own software!), bearing in mind that there is no such thing as gain without accepting some measure of risk. Unless you want to put your money in a bank CD, that is, and watch it go backwards.
Fortunately for us, the Forex doesn’t crash. Sure, it goes up and down. Some days it even goes down and then up. Every once in a while it takes off and goes way up, or way down, for a while. But these aren’t crashes. They’re trends. If the currency market is moving, regardless of whether it’s moving up or down, you can make good money from it. The trend is your friend!
Why agonize over 100% of your stock and bond retirement holdings when you can agonize over 90% of them and put the other 10% with us? If we can double that 10% a handful of times, you could end up having as much as the other 90% combined — what’s left of it, anyway.
We offer everyone a no-obligation, FREE consultation to answer your questions and see if we can help you achieve your wealth development goals. Get in touch and let’s talk.
And May All Your Investments Be Profitable…
David Taylor and Gordon Philips, Directors
Prism Solutions, LLC
‘Better Investing Through Science’
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