On Bob Brinker today

[GFB]

Bob's opening monologue was about retirement plans. From time to time he reiterates and explains 401K plans, 403b and 457 plans..as well as traditional and Roth IRAs.

It's always good to review things like this..including maximum yearly contribution amounts for various age groups for each type of plan..and also the methods one would use to start a successful withdrawal program.

[planosteve]

Retirement plans no longer make any sence. You might as well throw the money away. If you want to have anything in the future, buy gold and silver coins and bury them where nobody else will find them.

[GFB]

Retirement plans no longer make any sence. You might as well throw the money away. If you want to have anything in the future, buy gold and silver coins and bury them where nobody else will find them.

Well, I GUESS you can call that a retirement plan..just not one Bob Brinker would recommend..me neither.

[GFB]

Retirement plans no longer make any sence. You might as well throw the money away. If you want to have anything in the future, buy gold and silver coins and bury them where nobody else will find them.

And ok, I'll bite..what will happen to everyone's diversified retirement plans?

And what's your plan for those buried gold and silver coins?

[planosteve]

Retirement plans no longer make any sence. You might as well throw the money away. If you want to have anything in the future, buy gold and silver coins and bury them where nobody else will find them.

And ok, I'll bite..what will happen to everyone's diversified retirement plans?

And what's your plan for those buried gold and silver coins?

When I first heard Harry Browne recommend gold and silver investment in the 70's gold was under 300 an ounce. Had I put that money into gold and silver coins instead of retirement savings I'd have been way ahead. The purchasing power of the money I take out is far less than what it was when I put it in savings and I still have to pay income tax on retirement savings when I withdraw it. What a fraud!

[GFB]

Retirement plans no longer make any sence. You might as well throw the money away. If you want to have anything in the future, buy gold and silver coins and bury them where nobody else will find them.

And ok, I'll bite..what will happen to everyone's diversified retirement plans?

And what's your plan for those buried gold and silver coins?

When I first heard Harry Browne recommend gold and silver investment in the 70's gold was under 300 an ounce. Had I put that money into gold and silver coins instead of retirement savings I'd have been way ahead. The purchasing power of the money I take out is far less than what it was when I put it in savings and I still have to pay income tax on retirement savings when I withdraw it. What a fraud!

You invested poorly. Had you chosen a well diversified stock portfolio, it would have DWARFED what gold did during that time..by many multiples.

Nevermind the 70s..in August of 1982.. the Dow was at 700..today close to 17000.

[GFB]

But I'm curious to know what you're plan is..literally..for those gold and silver coins.

As in, you go dig up a few gold coins..what do you do with them?

[planosteve]

But I'm curious to know what you're plan is..literally..for those gold and silver coins.

As in, you go dig up a few gold coins..what do you do with them?

Sell them.

[GFB]

But I'm curious to know what you're plan is..literally..for those gold and silver coins.

As in, you go dig up a few gold coins..what do you do with them?

Sell them.

Oh..for money..those dollars you said would be useless and worth nothing.

[planosteve]

But I'm curious to know what you're plan is..literally..for those gold and silver coins.

As in, you go dig up a few gold coins..what do you do with them?

Sell them.

Oh..for money..those dollars you said would be useless and worth nothing.

It's an investment like any other. You cash it in. If I sell a coin for $1,200 I paid $25O for I made a 480% profit. And I pay no tax.

[GFB]

Oh..for money..those dollars you said would be useless and worth nothing.

It's an investment like any other. You cash it in. If I sell a coin for $1,200 I paid $25O for I made a 480% profit. And I pay no tax.

So, sooner or later..it's all about the dollars.

Same with well diversified retirement plans..except the numbers are much bigger.

[planosteve]

So, sooner or later..it's all about the dollars.

Same with well diversified retirement plans..except the numbers are much bigger.

The US dollar will become completely worthless at some point. Just like every other fiat currency that ever existed. Probably soon. It's already lost over 95% of it's purchasing power since the FED took over

[GFB]

So, sooner or later..it's all about the dollars.

Same with well diversified retirement plans..except the numbers are much bigger.

The US dollar will become completely worthless at some point. Just like every other fiat currency that ever existed. Probably soon. It's already lost over 95% of it's purchasing power since the FED took over

So..you'll need to be liquidating shares of stock funds that will have grown far more than those muddy gold coins from the yard.

[planosteve]

So, sooner or later..it's all about the dollars.

Same with well diversified retirement plans..except the numbers are much bigger.

The US dollar will become completely worthless at some point. Just like every other fiat currency that ever existed. Probably soon. It's already lost over 95% of it's purchasing power since the FED took over

So..you'll need to be liquidating shares of stock funds that will have grown far more than those muddy gold coins from the yard.

I don't have any funds that have grown anywhere nearly as much as gold has. And the retirement funds will be taxed when I withdraw.

[GFB]

I don't have any funds that have grown anywhere nearly as much as gold has. And the retirement funds will be taxed when I withdraw.

Well, here's to improved investing skills in your future.

[planosteve]

I don't have any funds that have grown anywhere nearly as much as gold has. And the retirement funds will be taxed when I withdraw.

Well, here's to improved investing skills in your future.

What you refer to as "investing" is actually speculating. When you invest you know what your return will be. When you speculate, you don't.

[GFB]

I don't have any funds that have grown anywhere nearly as much as gold has. And the retirement funds will be taxed when I withdraw.

Well, here's to improved investing skills in your future.

What you refer to as "investing" is actually speculating. When you invest you know what your return will be. When you speculate, you don't.

That is one goofy definition/explanation.

[GFB]

Definition of invest (v)

Bing Dictionary
in·vest
[ in vést ]


1.buy stocks or bonds: to use money to buy or participate in a business enterprise that offers the possibility of profit, especially by buying stocks or bonds
2.deposit money in bank: to deposit money in a bank or other financial institution in an account that pays interest
3.spend money on project: to spend money on something in the hope of a future return or benefit

[planosteve]

Definition of invest (v)

Bing Dictionary
in·vest
[ in vést ]


1.buy stocks or bonds: to use money to buy or participate in a business enterprise that offers the possibility of profit, especially by buying stocks or bonds
2.deposit money in bank: to deposit money in a bank or other financial institution in an account that pays interest
3.spend money on project: to spend money on something in the hope of a future return or benefit

Loaning money where the return is known is different than where it is not. Using the same term, "investment" for both stocks and fixed interest loans is misleading. Probably on purpose by "investment advisors" who want you to risk your money while paying them a comission. Figures don't lie, but liers figure. And they sell "investments".

[GFB]

Definition of invest (v)

Bing Dictionary
in·vest
[ in vést ]


1.buy stocks or bonds: to use money to buy or participate in a business enterprise that offers the possibility of profit, especially by buying stocks or bonds
2.deposit money in bank: to deposit money in a bank or other financial institution in an account that pays interest
3.spend money on project: to spend money on something in the hope of a future return or benefit

Loaning money where the return is known is different than where it is not. Using the same term, "investment" for both stocks and fixed interest loans is misleading. Probably on purpose by "investment advisors" who want you to risk your money while paying them a comission. Figures don't lie, but liers figure. And they sell "investments".

There are plenty of investments you don't need a salesman for..I've never paid one.