Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Karma13612

(4,716 posts)
15. "Keep your cash safe"
Fri Dec 13, 2024, 10:34 AM
Dec 13

In a safe.

I just took the very bold step ( a week or so after the election) of moving my 401K from its target date stock into a money market fund. So now, I just hope I get a bit from interest each month. At least no more stock market volatility making me sick to my stomach.

Are we saying now that I should actually pull it out completely and take a huge tax penalty and stick into a safe? I’m not going to start buying property or Gold at 70. I don’t have the knowledge or desire to tie up what little money I have in those instruments.

The news is just getting worse. It isn’t just one safety net and safe guard, it’s all of them.

What do they expect people to do? I can’t keep altering my life to accommodate every fcked up policy and pipe dream this narcissist and his cabinet of criminals is scheming up.

I’m afraid of (in no particular order):
1. Losing Medicare
2. Losing Social Security
3. Losing my savings and 401K due to lax banking regs and market instability.
4. Getting sick from lack of vaccines for myself or from others infecting me
5. Living in an increasingly dangerous world with domestic armed militia taking matters into their own hands.
6. LE officers who don’t want to enforce laws and instead make up their own.
7. Being unable to afford basic food.

I know there is plenty of other things to worry about, but my 70 year old brain is pretty much fried right now.

Recommendations

0 members have recommended this reply (displayed in chronological order):

Take away all protections, safety nets, regulations. Irish_Dem Dec 13 #1
Safety nets like the FDIC that no doubt worked well for Trump voters during the GW Bush debacle Bengus81 Dec 13 #3
It will be like the bank failure in '29. Irish_Dem Dec 13 #4
These criminals are setting us up for the FalloutShelter Dec 13 #2
"... by CONGRESS, NOT the President." True, but it's a Republican Congress that's being threatened William Seger Dec 13 #5
It depends on how much of their investments they are willing to lose BumRushDaShow Dec 13 #6
They really are looking to loot everything - TBF Dec 13 #7
or exchange it for somethig of long term value ... defacto7 Dec 13 #8
yes, it looks like that's what they're trying to do. nt TBF Dec 13 #16
"Keep your cash safe" Karma13612 Dec 13 #15
IDK - late 50's here - and being Gen X TBF Dec 13 #17
They want everybody to move their savings into crypto Prairie Gates Dec 13 #9
There are not enough "mines" to even consider anything like that BumRushDaShow Dec 13 #10
then one day puff its gone no FDIC because was its ever really there Historic NY Dec 13 #12
Time to revert to coffee tins and hiding money under the floor boards.. Historic NY Dec 13 #11
Make America "Great" ... as in The Great Depression. mzmolly Dec 13 #13
Dude always promised to make America great again, like 1929 level greatness IronLionZion Dec 13 #14
What Congress giveth, Congress can taketh away SpankMe Dec 13 #18
In the days of hyper-inflation (Germany of the 1920's) people needed wheelbarrows to carry their cash FakeNoose Dec 13 #19
Continue here BumRushDaShow Dec 13 #20
Latest Discussions»Latest Breaking News»This message was self-del...»Reply #15