Why I Cashed in My 401K Plans - Trading Trash Cash for Real Wealth...Gold and Silver!!!

[mostmost1]

Thanks im cashing out my 401k now. Atleast im getting back what i put in it.

[BookofNick]

@mostmost1 I think you did the right thing

[betodesign101]

i rolled over my old 401k into a europac perth mint ira.

[Anothercoilgun]

5 years and under 1,000 dollars? HOLY EFFING SHYYYT.

[TheMachineX2]

yea. i agree. i am doing the same gonna take a chance.

[bigzee456]

401K really does not seem worth it. I have found that I can save more by putting the money into an interest bearing account. Funny how your employer automatically enrolls you into the plan but if you want to take a withdrawal you get penalized. Seems like a ripoff to me.

[natritious1]

@prognosis77 no you eat it

[prognosis77]

@natritious1 thank for the tip.

[xxcrysad3000xx]

G. Gordan Liddy can be very persuasive.

[MrAnthony78666]

just keep in mind, silver being used up rapidly...consider other precious metals, as well.

[EricNos24]

anything that can be ripped or destroyed easily (paper) is worthless

[tomyhill123]

i think it would be better if every one explained the fiat currency system in terms of inflation just teach that the fiat system has inflation biult in to it

[SevenRoses2]

I am planning to do the same thing and I am OK with taking the penalty and paying the taxes now. I figure that the taxes must be paid no matter when I withdraw the funds. So it's better to pay the taxes now when taxes are expected to be lower than 5 or 10 years from now. I believe that we will see much higher taxes in the future. And I will pay the penalty now. But I figure it's the same money loss as waiting 5 or so years and having that money eaten up by the higher taxes.

[BogusJesus]

Your ass is broke.

[Hoschi0913]

your desicion makes sence,even tho no one knows how the future will be and if paper money really will be worth nothing,but at least you can choose for yourself how where and when to invest

[RayAir1]

The stock market is the world's largest Ponzi scheme being held up by Bernake Bucks (printed funny money being pumped in to the market).

[zz911wasInsideJobzz]

Good for you man. I cashed out my 401K, Roth IRA, and my Online Stock Trade account and bought physical silver. One of the best decisions I've ever made.

Like you, I wish I would have done it sooner but that's water under the bridge. Now I can hold my wealth in my hands. :)

[slhines7]

I am in the process of doing the exact same thing that you have done! Great vid of reality and thanks for letting others know that they are NOT coo KoO puff for doing the same thing. as well.

[4rcane]

the problem with 401k is not allowing you to decide where to invest it, not necessarily the penalty. The penalty is to encourage you to save for retirement

[4rcane]

@4rcane if there was a option to invest in physical gold/silver using your retirement money without taking the 30% hit, that would've been a better option

[plalelal]

@4rcane IN accounts held in dollars that they can devalue thru inflation, and steal your wealth!

[plalelal]

@4rcane IN accounts held in dollars that they can devalue thru inflation, and steal your wealth! You can also "borrow" it out at 5% or so.

[7110A33]

Nice video, I hope a lot of young folks start doing this....wished I started a long time ago instead of now. Good Luck to you...

[BookofNick]

@7110A33 Thank you. I wish I started sooner, too...like around 2003!