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Silver Wheaton Corp. Message Board

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  • fomkristy fomkristy May 9, 2010 11:15 PM Flag

    OT. question Re: 401K allocation

    Club....

    Nice to see that someone understands how things work in the investment field. You are correct in that, most likely, he cannot roll over his 401(k) unless, as you said, he quits his job or has already left his job. If you still work at that company, you can't roll it over to an IRA. SOME companies, like my spouses company, does allow her to roll over a portion of her 401(k) into a self-directed 401(k) though. If his company allows that, it would allow him to buy almost anything like SLW.

    good luck

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    • Thx fom -
      Correct.

      Rare for that allowance as far as I ever knew, but correct.

      Borrowing from your own 401k has one additional benefit that no rollover can provide:
      you can take the $50k you now have in hand and buy any physical buillion/coins you want and NOT have it tracked in any 'official' account like a 401k or IRA.
      That's a huge reason I did what I did...no future meat hooks in my appreciating private goodies.
      : )

      Tomorrow (and this week in general) should be verry verrrry interesting, to say the least.

      CF

      • 2 Replies to clubfoolish
      • "...buy any physical buillion/coins you want and NOT have it tracked in any 'official' account like a 401k or IRA. That's a huge reason I did what I did...no future meat hooks in my appreciating private goodies."

        True only if you're willing to disobey tax law {this is in the US. I can't speak for other countries}.

        http://www.irs.gov/publications/p550/ch04.html

        "Gold, silver, stamps, coins, gems, etc...are capital assets except when they are held for sale by a dealer. Any gain or loss from their sale or trade generally is a capital gain or loss."

        Stan

      • Aye, CF has the right idea if you are employed. 401k is nearly inaccessable for rollover. Borrowing against it isnt a bad way to go if your investment choices are limited - I am still mulling over pullin the trigger on that.

        Personally, i am betting against REITs and been bouncing in & out of an ETF (SRS) this week. Been a lot of fun so far!

        GL!

 
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