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<p>[QUOTE=&quot;medoraman, post: 985290, member: 26302&quot;]If someone lost &quot;nearly everything&quot; in the latest market correction then they were not diversified. Since no one has a crystal ball that works, diversification is the best bet. I always diversify, and bet against what others believe to be true. I was heavy in PM 20 years ago, and now have moved heavily into stocks. This is just for play money, my retirement is in diversified equities, (value fund, S&amp;P, International, etc). I know the numbers, but would show anyone who wishes to see that for any time frame except arbitrarily manipulating them that diversified equities outperform savings accounts over any time period. Of course if someone is close to retirement or is counting on the money soon they should move more into bonds or fixed income instruments. Anyone in equities is taking a risk that it might move down before it goes back up.</p><p><br /></p><p>The reason 401k&#039;s should be hard, (I say it should be impossible), to touch is that this is your RETIREMENT, not a savings plan. Everyone should have savings to go to for emergencies, not sacrifice your retirement and have to work as a Walmart greeter when they are 75, (no offense meant to anyone).</p><p><br /></p><p>Lucy, I would find someone who is not selling you anything, and ask them to look at your finances and chart a path for you to move from where you are to where you need to be long term. PM&#039;s are a commodity and are risky themselves, and if you are counting on this money you need to diversify for your own protection. I would look for a CFP who charges by the hour and sells you NOTHING, that way you know you are getting unbiased advice. If you lived in MN I would do it for you for free. Any PM investments have done well the last ten years, but that means they can fall more easily because of this long run up. If you are counting on this money, I would diversify systemically into other assets to protect yourself.[/QUOTE]</p><p><br /></p>

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