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Should I Cash in My Retirement Post Election?

Discussion in 'Political Issues' started by Flying-Dutchman, Nov 8, 2012.

  1. Flying-Dutchman

    Flying-Dutchman

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    I have a SEP IRA S&P 500 retirement account and after this election am thinking about taking the 10% hit plus tax and cashing it in.

    This is not out of panic due to the fiscal cliff (as this will most likely be kicked down the road).

    This is not because I am in financial trouble.

    I have lost faith in the judgement of the American people after this election and do not trust them not to take my retirement.

    I will do it this year if I do it as taxes are going up in 2013.

    Is this a good idea? I have bucked conventional wisdom in the past with good results.
     
  2. hamster

    hamster NRA Life Member

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    No. Bad idea. You can easily transfer your SEP allocation to other investments (even ETFs indexing other economies) without incurring any penalty.

    Talk to a fee based investment advisor before doing anything stupid.


    PS. Currently my best investment advice is to pay off your house or other debts. If you pay off your 5% mortgage, you have a guaranteed rate of return on your money right there.
     
    Last edited: Nov 8, 2012

  3. Geko45

    Geko45 Smartass Pilot CLM

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    No! The country is not coming to an end. We are in a rough patch, that is all. Nobody is going to be confiscating retirement accounts.
     
  4. Bucknasty

    Bucknasty

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    Absolutely yes. For you to even ask this question leads us to believe you are of sound mind. Maybe invest in bubblegum?
     
  5. Taurus851

    Taurus851

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  6. gigab1te

    gigab1te

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    Sure, why not?


    p.s.- I'm still going to contribute to mine, but what do I know...
     
  7. Atlas

    Atlas transmogrifier

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    I would make all financial decisions with consideration to this reality:

    The unfunded present value of future federal liabilities = $222 trillion
     
  8. Dennis in MA

    Dennis in MA Get off my lawn

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    Absolutely! We could use the bump in the national tax base. Thank you.
     
  9. P99er

    P99er AKA PPQ'er

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    I would. The democrats have been eying pre tax investments since Klinton. It could be that they are trying to cause an economic calamity so they can take your pre tax funds. But you'll get a social security voucher though.

    Take the hit, and find an oil or gas ETF.
     
    Last edited: Nov 8, 2012
  10. Flying-Dutchman

    Flying-Dutchman

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    So no one else is thinking about this? Come on, tell me true.:supergrin:

    I went in very close to the low after 9/11 when the Dow was in the 7K range and all the way in early 2009 when the Dow was in the high 6K range (by dumb luck and because I was mad it went so low and figured it could not go much lower). I have an iron stomach for the S&P roller coaster.

    But this election rattled me a bit.

    This invest for retirement and for the tax break mantra worked well in a traditional America but I have my doubts about where we will be years from now.
     
  11. Flying-Dutchman

    Flying-Dutchman

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    I did not even think about this only considering the political issue but this is true. Stocks might be OK but I have never purchased a bond.
     
  12. Flying-Dutchman

    Flying-Dutchman

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    If I would do this I would get out of paper and go off the grid and into gold bullion although gold is high and of course just sits there without a cash stream.

    Like I said this election rattled me as I wonder what will happen in the future. The Government is going to need a lot of money and the judgement of the American people can no longer be trusted.

    We are entering a new age. Maybe I am overreacting hence my thread.

    I agree about getting completely out of debt. I have a mortgage and used to think debt was good with inflation but in this economy debt is extra bad.
     
  13. hamster

    hamster NRA Life Member

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    If you are worried about a fiscal cliff, then "cashing in" may be a bad idea.

    [​IMG]

     
  14. DairyFresh

    DairyFresh

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    The dollar is doomed, and our security is a house of cards, what else do you need to know?
     
  15. Mr.Reignman

    Mr.Reignman

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    *Waits for the social security arguments*
    :wavey:
     
  16. Mr.Reignman

    Mr.Reignman

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    TBH, I think you have a fair argument and reason to be concerned. I don't think it is 100% necessary but hell, 5 years ago I didn't think having 5,000 rounds of 5.56 and some gold/silver was the farthest concern in my mind nor most people's minds for that fact so who knows whats coming.
     
  17. HollowHead

    HollowHead Firm member

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    Eerily similar to those people who cashed in everything last year because some TV preacher said the world was ending... HH
     
  18. Obi Wan

    Obi Wan

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    IMO, this is one of the hidden elephants in the room and it's high time it got talked about.

    I'm not so sure that 'going off the grid', completely, is such a bad idea...
     
  19. Glocksanity

    Glocksanity

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    Cash out. Buy gold. Sleep well. Real simple.
     
  20. jpa

    jpa CLM

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    Stock up on toilet paper and bottled water. Best investment advice ever.