What preparations should people take for an Obama Presidency?
Thursday
I have a choice between a traditional annuity and self managed retirement plan; given the likelihood that his policies will result in more economic downturn, I’m sticking with the annuity.
I’m paying off all credit debt and refinancing the loan on my rental property to a fixed rate, anticipating that loan rates and inflation will rise.
I’m putting my 401K into bond funds to protect against further market downturns.
There’s not much I can do about the rising tax rates. Do you have any other suggestions?
Any sound financial adviser would tell you to do nothing different. You have at least until January 1, 2010 before any of Obama’s economic policies take effect.
Categories: protect credit rating
Move to a different country!
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Sell your stocks and buy a gun.
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If you want your concealed weapons permit you better get it now.
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Hold firmly onto your wallet
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well. you should be more worried about the Market than an Obama presidency personally.
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GIRD YOUR LOINS like Biden said. Anything else is small compared to what we have coming!
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Pack your bags and go to other country , So there will more jobs for us. Any way you people are wasting resources.
My whole neigbourhood already bought guns to face any neocon fanatic.
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Put all your money in a lockbox. Hide it. Barack wants it. Oh yes, he does!
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Invest in Euros.
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Buy firearms and ammunition before it is too late.
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+ Give Me Liberty!
I’m digging a bunker in the backyard
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By can foods while you can still afford it, get your guns and extra ammo, buy gold.
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Any sound financial adviser would tell you to do nothing different. You have at least until January 1, 2010 before any of Obama’s economic policies take effect.
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You’ll be fine as long as you are self-reliant and do not depend on the government to take care of your life. It doesn’t matter who the president is for one to make wise decisions and be self-sufficient.
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An economic downturn? You mean worse than the one we’ve been experiencing under a Republican administration? What information do you have that has lead you to this conclusion?
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I did all of the above after 9/11, and I’m glad I did (especially the bonds part). My only other suggestion would be to NEVER take out a variable rate loan.
“All Things Are Negotiable”
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1. Save your money.
2. Learn how to properly fire a weapon and legally own one.
3. Never again vote for a democrat and don’t let your friends do it, either.
4. DON’T LIVE BEYOND YOUR MEANS! If you don’t have the cash to pay for it, you don’t need it.
5. Don’t charge anything. All you’re doing is making the banks more wealthy than they already are!
There is NOTHING you can do about taxes. You know the saying, “there are two certainties in life: death & taxes”. You can’t do anything about either one of those things. Just live your life.
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I have always voted republican and always will. I did my part for this election… I voted for John McCain.
Stockpile canned food and toilet paper in your garage
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I would question the choice of bond funds. Bond funds are full of those lovely little debts that the US and other nations’ banking systems are scrambling to rescue us from the collapse of. Where do you think the “debt notes” were put? Bond funds.
For what it’s worth, look to money market funds, T-bills and other secure investments. They will carry little to no interest or growth, but whatever you put in will be there when you look at your 401K in two years. When the economy turns, start dollar cost averaging from the cash into longer term investments.
For your rental property loan, don’t lock in the rate, stay in a 1 year term, maximum, you’re writing off the interest against your income… that’s a good thing.
And, in the meantime, take the Securities Course, learn how money works. THAT is your best security.
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I was a Personal Financial advisor in my first career.
Pray for him and his advisers. Pray that he will allow people who know what they are doing to influence him.
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Don’t just go along with all of the stuff a lot of people say. Just do what you would do for any other presidency. You shouldn’t think just because of some of the things he said he was going to do is already starting that the entire country is going to fall apart.
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Looks like you have it covered. One thing you might consider is NOT paying off any loans (like car loans) that are low interest rate. Continue contributions to the 401K but put that money to as near a money market that your company offers. Consider their matching contribution to be your rate of return and forget the market. Most likely the stock market will go sideways for years. If your company does not offer a match, I’m not sure I’d contribute to it at all. Look for a good deal on another rental property (1 or 2 bedroom condo’s only) or a vacation home if you can afford it. That will make you the master of your own retirement, reduce your AGI to under whatever the new Obama number is for socking it to the “rich”, and let you get away from it all.
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