Just Started Prepping From Finger Lakes Region Of New York

[Gerard150]

Hi everyone. I use the moniker Gerard150 because Gerard is my actual name. I'm 63 years old and I live in Horseheads, NY. Horseheads is about 4 hours North and West of New York City. I just started serious prepping in the last month or so. Last year, I read the book "aftershock" and it scared the bejesus out of me. In the book, the authors predicted a calamitous worldwide economic depression including inflation, massive unemployment (50%), destruction of the value of the dollar, Plummiting of Home values, Tanking of the Stock Market Yada Yada Yada. I immediately tranferred every nickle of my 401k into precious metal backed securities. I fear for the future. Prepping seems to be the thing to do.
And so it begins.

 

[Fordrocks1986]

Welcome to the forum.

 

[booter360]

I'm positive you will find lots of help her it been a great place for ideas and information for me and my wife.

 

[Colt 1911]

Welcome aboard!

 

[SSgt.]

Welcom to the forum.

 

[Clyde]

Hi everyone. I use the moniker Gerard150 because Gerard is my actual name. I'm 63 years old and I live in Horseheads, NY. Horseheads is about 4 hours North and West of New York City. I just started serious prepping in the last month or so. Last year, I read the book "aftershock" and it scared the bejesus out of me. In the book, the authors predicted a calamitous worldwide economic depression including inflation, massive unemployment (50%), destruction of the value of the dollar, Plummiting of Home values, Tanking of the Stock Market Yada Yada Yada. I immediately tranferred every nickle of my 401k into precious metal backed securities. I fear for the future. Prepping seems to be the thing to do.
And so it begins.

Welcome and thank you for taking time to join Doomsday Prepper Forums.com. Your presence here is much appreciated. We look forward to your posts, and hope you enjoy the community!

I too am prepping for economic collapse, amongst other things!

Thank you again for taking the time to join Doomsday Prepper Forums.com!

 

[Krime]

Welcom Gerard!

Let me ask you a question:

did you buy actual gold/precious medals? or did you recieve bonds that say how much you bought?

 

[Gerard150]

I entered into an agreement with a firm that helps you transfer funds from an IRA or other tax deferred pension fund into a fund that is gold/ silver backed. There is an actual physical deposit of gold and silver. Mine is in an entity called Delaware Depository.

 

[Clyde]

I entered into an agreement with a firm that helps you transfer funds from an IRA or other tax deferred pension fund into a fund that is gold/ silver backed. There is an actual physical deposit of gold and silver. Mine is in an entity called Delaware Depository.

This is something I need to do with my stale 401k.

 

[Gerard150]

This is something I need to do with my stale 401k.

Almost any of the major gold dealers(Goldline comes to mind) will handle a 401k transfer to precious metals.

 

[Hades]

Hi everyone. I use the moniker Gerard150 because Gerard is my actual name. I'm 63 years old and I live in Horseheads, NY. Horseheads is about 4 hours North and West of New York City. I just started serious prepping in the last month or so. Last year, I read the book "aftershock" and it scared the bejesus out of me. In the book, the authors predicted a calamitous worldwide economic depression including inflation, massive unemployment (50%), destruction of the value of the dollar, Plummiting of Home values, Tanking of the Stock Market Yada Yada Yada. I immediately tranferred every nickle of my 401k into precious metal backed securities. I fear for the future. Prepping seems to be the thing to do.
And so it begins.

If that gold isnt in your hand, will it even exist when the market crashes?Hmmm ponder that a few minutes before you answer.
When it all falls down, how will you recieve your investment?

 

[Clyde]

If that gold isnt in your hand, will it even exist when the market crashes?Hmmm ponder that a few minutes before you answer.
When it all falls down, how will you recieve your investment?

I know for a fact some of the companies do send you your gold, silver, etc.
I personally would want it in my possession! As I agree what do you do when the SHTF if your gold, silver, etc is elsewhere. I sure don't trust anyone sending it to me.

 

[Gerard150]

I know for a fact some of the companies do send you your gold, silver, etc.
I personally would want it in my possession! As I agree what do you do when the SHTF if your gold, silver, etc is elsewhere. I sure don't trust anyone sending it to me.

If the stock market crashes (which I believe it will and soon) the value of your investment will drop and probably
dramatically. In order to transfer to precious metals and defer taxation, precious metals in 401k must be deposited and stored with a third party. In my case Delaware Depository. I can start withdrawal anytime since I am 63 Years old. But I would have to pay full fed and state tax. I have more money now than I can handle soooo why should I withdraw. When I reach 69 1/2, Iwill have to start withdrawal.

 

[Clyde]

I have more money now than I can handle soooo why should I withdraw.

Now there's a problem I wish I had.

 

[Hades]

My question was, if the system fails, how will you get your gold, or its value from the 3rd party.
mail will stop, internet will be locked down, so will phones. A million in gold will be worthless, if its not in your possetion.

 

[Loomis]

Welcome !

I've heard of that.