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Has anyone ever used 401k money to purchase PMs?
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<p>[QUOTE="SD51555, post: 2346133, member: 71871"]Not just no, hell no. If you were investing in something that is more understandable or that you had a chance at influencing like a business or some land then absolutely. If any of us here have learned anything, it's that there is no rhyme or reason to what happens in the bullion markets.</p><p><br /></p><p>The ashes have finally blew away from the last group of people that did that back in 2011. I'm talking about the ones that cashed out their retirements, took home equity loans, bought bullion with credit cards etc. Those that chased bullion up and bought silver at $35 expecting to sell it for $90 within months.</p><p><br /></p><p>Those horror stories make me sad and angry at the system. The likes of talk radio told everyone the sky was falling because they were paid to. Personalities that up until that point only pushed fairly relevant products like Dinovite and Quicken mortgages.</p><p><br /></p><p>I'm sad for those that bit and blew it all only to see it halved or worse in a few short years. I'm not saying don't buy bullion. Just don't mortgage the farm for some magic beans.</p><p><br /></p><p>***Also, the fact that you're asking this one week into the first signs of life in the bullion market is also a clear sign this is a bad idea. Just pay cash for a little each month and don't look back. Hindsight can fuel bad decisions going forward.[/QUOTE]</p><p><br /></p>
[QUOTE="SD51555, post: 2346133, member: 71871"]Not just no, hell no. If you were investing in something that is more understandable or that you had a chance at influencing like a business or some land then absolutely. If any of us here have learned anything, it's that there is no rhyme or reason to what happens in the bullion markets. The ashes have finally blew away from the last group of people that did that back in 2011. I'm talking about the ones that cashed out their retirements, took home equity loans, bought bullion with credit cards etc. Those that chased bullion up and bought silver at $35 expecting to sell it for $90 within months. Those horror stories make me sad and angry at the system. The likes of talk radio told everyone the sky was falling because they were paid to. Personalities that up until that point only pushed fairly relevant products like Dinovite and Quicken mortgages. I'm sad for those that bit and blew it all only to see it halved or worse in a few short years. I'm not saying don't buy bullion. Just don't mortgage the farm for some magic beans. ***Also, the fact that you're asking this one week into the first signs of life in the bullion market is also a clear sign this is a bad idea. Just pay cash for a little each month and don't look back. Hindsight can fuel bad decisions going forward.[/QUOTE]
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Has anyone ever used 401k money to purchase PMs?
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