Author Topic: Are ROTH IRAS safe when the dollar dies?  (Read 6391 times)

Offline Silver surfer

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Are ROTH IRAS safe when the dollar dies?
« on: June 05, 2011, 02:10:34 PM »
My wife and I started a ROTH Ira last year and contribute $800/month to it. However,I am VERY concerned about the death of the USD and effects of what it would have on investments made with this IRA.I am also concerned about the possibility of the Feds robbing IRA's to supposedly "pay off debt" with". We have diversified where and on what the money is put into and I also specified I wanted companies that paid dividends. On top of that,I have invested several thousand dollars in the form of physical gold and silver bullion(mostly slv) to keep for safe haven and inflation. SO,I am wondering if continuing to pay into the IRA is safe or not? If the dollar dies(more like WHEN),will we lose everything that we have contributed? Should we use the IRA money to invest in PM's or stay the route with the IRA?Our debt is only her new car($90/ wk),living expenses and our house payment all of which we live off of and pay on my income alone.
Thanks in advance for any help.
Chris

Offline Hurricane

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Re: Are ROTH IRAS safe when the dollar dies?
« Reply #1 on: June 05, 2011, 04:10:19 PM »
When the dollar collapses, so will the financial institution you are dealing with. And the one it is dealing with, etc.
None of the workers will be getting paid. They won't maintain the computer systems that have your records, and may vandalise them themselves.


Offline fred.greek

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Re: Are ROTH IRAS safe when the dollar dies?
« Reply #2 on: June 05, 2011, 06:02:23 PM »
If you do not hold it in your hands, and have the ability to defend your right to hold it, do you own it?

I.E. federal employee pension funds and TSP (401(k)), the tresury secretary decides to "borrow" them. 

Offline TexDaddy

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Re: Are ROTH IRAS safe when the dollar dies?
« Reply #3 on: June 05, 2011, 06:16:21 PM »
Surfer,

I believe the answer lies in your signature line.

To go a little stronger than fred did. "If you don't hold it, you don't own it."

Offline chris

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Re: Are ROTH IRAS safe when the dollar dies?
« Reply #4 on: June 06, 2011, 01:56:04 AM »
If the IRA's assets aren't in dollar backed assets, maybe not.

homeshow

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Re: Are ROTH IRAS safe when the dollar dies?
« Reply #5 on: June 06, 2011, 07:08:01 AM »
a ROTH investment is in dollars.  if dollars are not worth anything do you really want them?   if a loaf of bread is $50,000 do you need your ROTH?  you need a neighbor with a bakery that needs something you can trade.

Offline Silver surfer

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Re: Are ROTH IRAS safe when the dollar dies?
« Reply #6 on: June 06, 2011, 07:56:38 PM »
Thank you everyone for the replies. This group is GREAT and has a lot of wonderful members!
I'll have to have a sit-down with the wife about this. She doesn't seem to think that the dollar is capable of being killed,but also,my wife is from Japan and doesn't know all of the economic workings happening behind the scenes that I see and hear about by monitoring multiple news papers and news sites.
On another note,tonight happened to be a GREAT luck night for me. I found 31 ounces of .999 silver that I had bought and lost track of 10 years ago during a move.I had spent about $150 for all this silver back at 2000, I knew I had it at one time but never could find it.I thought that either I had traded it off for something or someone stole it.Fortunately,it was neither.I found it stashed in my mother's house in a closet with some old clothes of mine. It's ALWAYS a good day when you locate $1,200 worth of silver that had been misplaced! ;D

Bonnieblue2A

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Re: Are ROTH IRAS safe when the dollar dies?
« Reply #7 on: June 06, 2011, 08:34:10 PM »
Check with your accountant or someone else can chime in here. IIRC, since the ROTH is contributed post taxation, I believe you can withdraw your principle contribution at anytime without any tax penalties, leaving the capital gains and interest in the account. If you just opened the IRA in the past year and did not transfer from a 401(k) then you likely have very little in capital gains compared to your principle.

Like I said, double check with your accountant or the IRS to be certain before you take action on removing money from your ROTH.

Offline Bubafat

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Re: Are ROTH IRAS safe when the dollar dies?
« Reply #8 on: June 06, 2011, 11:06:21 PM »
Yea, you can remove your contributions.

Leave it in, just keep your ear to the ground and your head never buried in the sand.  The people who lose big are those who act with their heart and not with their head.  Keep it diversified, move half to a different institution.  You can do that w/o paying any taxes just so long as its done within a specific timeline. 

Offline Roundabouts

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Re: Are ROTH IRAS safe when the dollar dies?
« Reply #9 on: June 29, 2011, 01:32:05 PM »
You have to do what helps you sleep at night.  Sounds to me like you are worried about it.  I pulled all my money. The 10% that I had to pay in penalties didn't bother me.  I didn't have that much.  You can pull your contributions out however there seems to be some questions on how you can do that.  Talk to your tax person.  After giving it much thought I got really pissed off at the lies I had been told well truth be told that I believed the lies.  What lies?  The fact that an IRA or Roth are good for retirement. BS It is my money I worked for it so if I want to spend it all tomorrow I should be able to.  I can make the same investments all on my own without putting money into a Roth or IRA or even a 401k.  At least that is what several financial people and my tax people have told me.  So I am thinking why would I tie up my money and let the feds tell me what I can or can't do with it or when and how I can get to it.  So every thing will be done by me and not under  the roth or ira umbrella.  I just need to be careful on how much I pull out at a time so that it doesn't throw me into the bottom of the next higher tax bracket.