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The Alchemist (07/09/2008)
By Al Thomas

WHAT TO DO WITH YOUR 401K NOW

Do you remember that happened 2000 to 2003?

I don't like reminding you of the unpleasant experience you had for that 3 year period, but you need a swift kick in the butt now if you don't want to go through it again.

Do I have your attention? One more kick. Did you lose 40% of the money in your retirement account back then? Maybe more?

Well, it is going to happen again. The stock market has recently jumped off the cliff and is now in free fall. Have you looked at your 401K, IRA or any similar retirement plan you have? Is it being managed (I prefer the word mangled) by some Wall Street trained "professional"? If so, kiss it good bye. Brokers and financial planners did not get you out then and they are not going to get you out now.

Back in 2000 I told readers to get out and am now advising the same procedure. Sell and transfer your money to a money market account. If possible put it into a money market account that is composed of U.S. government bonds. Some money market funds have questionable assets and may not be as safe During the next two years safety will become a key issue. As Will Rogers said, "I'm not concerned about the return ON my; I'm concerned about the return OF my money. There will not be many money marrket accounts that have problems, but there will be a few. And there is no way at this time to know which ones. Protect your money. 401K and IRA managers and all money managers will not want you to sell out your stocks and transfer to a money market. Don't listen to them. It is not their money. It is YOURS.

Profits in a tax sheltered plan is not subject to Federal taxes. Even if you have to pay some tax (each investor will be subject to his own amount) it will be less than the amount of loss that I forecast over the next couple of years.

Unless you are a professional traders (as I am and I am not a broker or money mangler) the safest place for you money now is in cash. Cash is king.

Your broker will try to talk you out of selling because he doesn't understand the greatest secret of Wall Street. They are all taught it is buying. It is NOT. The great secret is SELLING.

Everyone knows AT&T. This is a safe investment. Yeah! This is

where brokers and manglers put the money of widows and orphans. It dropped from $60 to 20, then back to 43 and now headed down again. I will bet your money manager does not have a stop to prevent further loss.

The previous bear market lasted about 3 years. This one has the makings of at least that long and maybe longer. Don't let them take away your money. Don't wait to get "even". Transfer your funds to a money market today.

Al Thomas' best selling book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter and receive his market letter at no charge on www.mutualfundmagic.com to discover why he's the man Wall Street does not want you to know.

Copyright 2008 All rights reserved.

 

 

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