My 401(k): How can I protect myself before the collapse?

Rocky Top · Post by **Rocky Top** » October 20th, 2013, 7:31 am

I can't just bail out of my 401(k) and cashout because I'm still employed, so what other alternative (besides quitting my job) do I have? I have a fear that the Feds would pull a Cyprus on us and grab our retirement money. I'm presently invested in international mutual funds with about 80% of that in foreign stocks. I figured that since I'm fully invested in the US with my home, my job and other assets, why not diversify my risk to international mutual funds outside of the US?

Or am I just screwed anyways?

Ghost · Post by **Ghost** » October 20th, 2013, 7:35 am

MrPeabody · Post by **MrPeabody** » October 20th, 2013, 8:38 am

I got out of 401(k)s. The socialists clearly control America now and the debt is growing. They will steal money from wherever they can get it and then tell you it is for your own good.

Contrarian Expatriate · October 20th, 2013, 9:03 am

Contribute up to the employer's match only. After that, start saving accounts overseas.

Tsar · Post by **Tsar** » October 20th, 2013, 9:13 am

I wouldn't have a 401(K) once I get employment. I would rather buy hard assets and properties rather than forfeit control of my money to a mutual fund company that earns fees. 401(K)s are dollar denominated assets and could lose purchasing power. Tax laws can also change in the future.

Rocky Top · Post by **Rocky Top** » October 20th, 2013, 9:19 am

Contrarian Expatriate wrote:Contribute up to the employer's match only. After that, start saving accounts overseas.

How much of a barrier would FATCA have with that? From what I've read, FATCA has almost made it impossible for Americans to open accounts overseas because the foreign banks don't want to deal with the red tape.

T Rex · Post by **T Rex** » October 20th, 2013, 10:03 am

http://www.globalwealthprotection.com/

I'm not affiliated with these guys, but they post a lot of opportunities and expat friendly locations...

If I were in your shoes, I'd buy some precious metals (physical) for insurance and look at offshore investments in said expat friendly locations...

SilverEnergy · Post by **SilverEnergy** » October 20th, 2013, 10:53 am

Your 401k is going to be wiped out completely once the collapse occurs because all fiat currency around the world is eventually going to ZERO.

The bond, mutual fund and stock market are going to collapse as well.

Then we're going to move to a new world monetary system and everything will be good again.

Guy silver and gold right now as that is the best way to prepare yourself as their prices are going to shoot up in the upcoming hyperinflation.

Buy water and food storages and start watching videos on youtube by Robert Kiyosaki.

[youtube]http://www.youtube.com/watch?v=_vlP7BaoERw
[/youtube]

[youtube]http://www.youtube.com/watch?v=7D4zjkv1Ssw
[/youtube]

SilverEnergy · Post by **SilverEnergy** » October 20th, 2013, 10:56 am

The Federal Reserve is printing 85 billion dollars a month!!!

This is going to lower and lower the purchasing power of the U.S. dollar so much that eventually prices will shoot up even higher.

The Federal Reserve along with the rest of the world are going to keep on printing fiat currency until game over.

Contrarian Expatriate · October 20th, 2013, 11:12 am

Rocky Top wrote:
Contrarian Expatriate wrote:Contribute up to the employer's match only. After that, start saving accounts overseas.
How much of a barrier would FATCA have with that? From what I've read, FATCA has almost made it impossible for Americans to open accounts overseas because the foreign banks don't want to deal with the red tape.

Only a small handful of banks in a small pool or countries are prohibiting Americans from opening accounts out of protest against the expensive FATCA reporting requirements. The vast majority of foreign banks are FATCA-compliant and welcome Americans' money.

I open a new foreign account every 6 months or so.

zacb · Post by **zacb** » October 20th, 2013, 12:21 pm

Tsar wrote:I wouldn't have a 401(K) once I get employment. I would rather buy hard assets and properties rather than forfeit control of my money to a mutual fund company that earns fees. 401(K)s are dollar denominated assets and could lose purchasing power. Tax laws can also change in the future.

You know in many cases you can buy precious metals and real estate with 401ks? While it is better to own directly, it is still better than stocks and bonds. Check it out. At least get educated about hard assets.

Tsar · Post by **Tsar** » October 20th, 2013, 2:31 pm

Do you think gold or silver is the best investment and wealth preservation asset? Assuming it's a common bullion coin or an ingot I'm leaning towards silver because I believe it's undervalued compared to gold and it has a greater industrial demand. Gold is still a monetary metal and it has lower industrial demand.

Saving in a bank, government bonds, or a 401(K) account are the worst. Fees, taxes, inflation, loss of purchasing power, and future hyperinflation.

I have read about the FATCA and one way to solve the problem is to have a second passport. Dual citizenship is a must for Americans that desire more freedom. America has an invisible Berlin Wall trying to trap Americans inside America and cut them off from the rest of the world.

Contrarian Expatriate · October 20th, 2013, 3:03 pm

Tsar wrote: I have read about the FATCA and one way to solve the problem is to have a second passport. Dual citizenship is a must for Americans that desire more freedom. America has an invisible Berlin Wall trying to trap Americans inside America and cut them off from the rest of the world.

I hate to inform you that a second passport does not absolve you of FATCA requirements if you are still an American citizen. Dual citizen Americans must also comply under penalty of asset seizure and criminal charges.

zacb · Post by **zacb** » October 20th, 2013, 5:15 pm

Tsar wrote:Do you think gold or silver is the best investment and wealth preservation asset? Assuming it's a common bullion coin or an ingot I'm leaning towards silver because I believe it's undervalued compared to gold and it has a greater industrial demand. Gold is still a monetary metal and it has lower industrial demand.

Saving in a bank, government bonds, or a 401(K) account are the worst. Fees, taxes, inflation, loss of purchasing power, and future hyperinflation.

I have read about the FATCA and one way to solve the problem is to have a second passport. Dual citizenship is a must for Americans that desire more freedom. America has an invisible Berlin Wall trying to trap Americans inside America and cut them off from the rest of the world.

To hedge against the current crisis I say silver, since it's price has been steady. Longer term, I would say land if you can afford it. And the only two assets you do not need to report are gold (and I believe silver) and real estate. As for gold, lock them in a safe deposit box, preferably outside of financial institutions (mostly banks). You will not need to mention any of that to them. Be aware however, that many dealers require a fingerprint when you sell (many find this BS, and if you are on good terms with your dealer, they will not force you to do this, especially if you bought the items from them). As for other things, such as earnings or over 10k in cash, you will need to use the FACTA form. But you do get 90k in tax free income overseas, but you still need to file .

zacb · Post by **zacb** » October 20th, 2013, 5:17 pm

Tsar, there is a certain forum on the darkwebs that may be able to help you with taxes;) . But as for legally, the only way is to renounce your citizenship.