If you cash out your 401 is buying gold coins a safe bet?
roger.hay@sbcglobal.net asked:
cash from 401, I want to buy gold coins
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cash from 401, I want to buy gold coins
February 12th, 2009 at 7:22 am
Do not remove funds from your 401k. This will result in paying taxes and a penalty fee of 10% on top of that.
Instead, move your 401k funds to a self-directed account such as a traditional IRA. There are no fees or penalties to do this.
Then you can invest in anything you like, including gold stocks and commodities.
Good luck!
February 12th, 2009 at 12:42 pm
Do not cash out your 401k. Like the other person said if you want to pay unwanted fees do so, but I advise you not too. Roll it over into a Roth IRA or an Traditional Account
February 15th, 2009 at 12:08 am
1. Don’t cash out your 401k.
2. This is not a good time to buy gold. It is near a 20-year high. Odds are it is going down