How to reinvest an IRAgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Having only been "plugged in" to the Y2K situation for about a month, my husband and I are in a major learning mode. As we try to prioritize what we need to do in the next 18 months to prepare for the "unknown consequences" ahead, our first concern is in protecting the funds we've worked so hard to build. A good portion of our IRA funds are invested in stocks, and a Y2K savvy friends has advised us to move over to Treasury Bills. However, it's my understanding that T-bills are debt instruments of the federal government...which is hopelessly in debt and will possibly default on all obligations if Y2K hits as hard as some seem to think it will. Any suggestions from anyone out there with investing expertise would be greatly appreciated.
-- patricia (dewinter@Alaska.Net), July 04, 1998
Patricia, some food for thought:
I may be wrong but I believe any president has at their disposal the ability to activate the executive order forcing t-bills to be magically transformed into t-bonds(30 year maturity) to avoid coughing up any immediate cash outflows.
Would'nt that be special!! I'm staying away from electronically credited or debited transactions starting a few months(6?) prior to the rollover myself. A few eagles and mapleleafs are pretty cheap insurance presently for some financial diversity. Also, extras of any other necessary commodity you might consume in the normal course of present daily activity might be warranted with or without any forseeable disruption. Try to think "needs" rather than "wants".
Have a nice rollover!
-- Mike T. (email@example.com), July 05, 1998.
This message is written as I have read many postings in the greenspun forum regarding positioning in precious metals with investment accounts including IRA and other retirement accounts. The alternative to purchasing Gold Eagles is to purchase shares of Central Fund of Canada Limited (est.1961). The shares qualify for inclusion in retirement accounts and might be the alternative that you have all been searching for. Central's shares trade on the AMEX (CEF) and the TSE (CEF.A). They are backed by over 97.5% with physical gold and silver bullion that is stored in Central's segregated vault within the vault complex of Canada's second largest bank the CIBC. The bullion is audited on a semi-annual basis and is fully insured with an "ALL RISKS" insurance policy. Central is the most cost effective way, that I know of, to purchase, store and insure bullion at under 1% per year. I invite you to review our website located at www.centralfund.com and would welcome any calls at 905-648-7878 at anytime. Central Fund continues to fulfill its mandate as "The Sound Monetary Fund".
-- J.C. Stefan Spicer (firstname.lastname@example.org), November 01, 1999.