Tuesday, February 24, 2009

More about Money and Financial Stuff

If you've been to my blog and watched the 'Financiall 9/11' video then you'll know that my alert level on the financial state of the US has ratcheted up significantly. Now I'm deciding what to do about it personally.

I have started buying hard currency (silver coins - gold will follow as I can afford it), and I had already changed over my 401K about 5 months ago to the super secure Treasury bills fund.

Then I got this article

http://www.hoisingtonmgt.com/pdf/HIM2008Q4NP.pdf

It's kind of a chewy read, I felt like I wanted a vitamin and a latte first. But it really spells out how and why things may or may not work like the government is hoping it will.

The other things I'm thinking about and planning for kind of make me feel like a survivalist whack-job so I'll save those for later.

3 comments:

aola said...

I was reading today about the new FDIC laws and from what I read I think it said (so much gibberish to me) that IRAs are covered by FDIC up to 100,000. Is that correct? or do you know?
I am looking at State Farm CD's, nothing is paying much but it is a little higher interest than the bank.
And, I'm hanging onto the old mason jar.

Sandra said...

All this financial talk has my head in a spin. It seems to me that if things are as bad as some are making them out to be a smarter choice to stock up on would be grains and beans. The line from one of those old hymns comes to mind " a piece of bread would buy a bag of gold".
I don't really think it's coming to that, but I am at a loss for what to do without going to the extreme.

Unknown said...

The IRA's are covered now up to 250k, as are your bank accounts.

I still think balance is a good approach.

If you have debt, work to pay it off.
If you can afford to get some 'hard currency' (gold and silver coins) that couldn't hurt.
If you can afford to stock up on some non perishable food and then start a rotation, then do that too. That's just good practice for emergency preparedness.

You don't have to be a survivalist whacko to do those things to be able to not feel as 'exposed'.