😂

And I imagine with all the extra stimulus money gold is going to go up in price as more people realize this.

As it did when Covid started kicking off.

🤔

People probably shouldn’t generally have much savings allocated to cash or cash equivalents anyway. It’s basically for liquidity purposes. You could keep most of that in fixed income and collect interest payments. I think it would be weird if someone was advised to put 403b or 401k allocations into cash. It might even be a violation if they have to defend why they advised that (the financial advisor or fiduciary)

Or ETFs. Or Stocks. Or Gold. Etc

For sure, I'm not advocating for removing certain savings that you can't manipulate.

I did the math. 2.3 trillion divided by 237 million adult Americans is 9704 per American.

I am big mad 😂

That’s not even means tested

I'm mostly talking about certain savings accounts, that may have limited access but still remain largely free to manipulate.

With likely added fees.

Means tested at 75000 would net 13k per person

Stocks IMO can be subject to volatility.

Honestly if someone has sufficient savings and access they should have an invesment advisor. They are heavily regulated and audited every 3 years. Explain the concern and they will allocate cash to a safe asset class.

Precious metals usually are stable and increase over time.

True enough.

So if I have 10k in my bank savings account, I should get a small gold IRA?

I wouldn’t invest in stocks individually without advice from a professional. Probably ETFs or Indexes since the risk can be spread out. Or go with gold and bonds for less volatility. But nothing is totally immune from volatility

Oh, There’s a recommendation GA decertify. It’s not done yet.

I'm torn between a gold ira and living out of an RV in west texas

You should put it somewhere that fits your risk profile. The added benefit of IRAs and 401ks is shielding from taxation. I bet there is an RIA in your town that could assist. Just do a broker check on them to see their history.

My brother has some licenses for what I can't remember

I have heard horror stories about precious metal IRAs.

Agreed. I think it'd be more responsible of me to advocate that people with reasonably large savings look into storing their money in less volatile methods that attempt to retain its value in this shaking economy.

It’s your money lol. I would find an RIA that has history.

Yeah, I mean we are in a pretty anonymous chat but I still am hesitant to offer specific investment advice. It’s heavily regulated that industry.

@skeeterburke Check the Bbb reports before buying any gold iRA. I bought it. Found very bad complaints on calif bbb on my company for gold it’s. I made a complaint and got a full refund. Bbb complaints stay public for several years

Yeah I mean there are some shady self dealing companies out there. An RIA would find the appropriate set of investment vehicles for the risk profile.

Gosh I think I gave advice to check with bbb that won’t get me in trouble

You can’t get in trouble unless there is material harm I think. Lawyers can answer though better than I lol

Since I find it hard to believe that would result in material harm you are probably ok

When you're dealing with large sums of money, always defer to professionals.

I wasn’t an Atty. But as long as it’s suggested good advice and I don’t name names

but when it comes to medicine, just make up your own stuff.

I just worked taxes professionally for a few years, I'm hardly an expert on assets.

@Maw I now view you as superhuman.

Glad you cleared that up, now about that colloidal silver you recommended

Why?

I am very fallible.

Research the web and get professional advice