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If you have money in your 401k pull it now.
Shits gonna pop
You can direct your investments in your 401k to international funds much more easily
Im planning on rolling it into Euros.
That is the likely currency to replace the US dollar.
How does one even do that?
Everyone talks about the yuan, but it's the euro.
Took me an afternoon and two days to funds to balance but totally worth it. I'm boycotting US stocks and federal bonds.
Done and done. Thanks for the tip, fellow lemming.
Just an FYI, do be aware that this could have tax implications depending where you put your money and your personal tax liability.
Understanding Taxation of Foreign Investments
Yeah, I think my 401k provider probably thought of that when putting together their international funds offerings
Yes, you're not not going to have any foreign tax obligations owning a mutual fund in your 401k
Doesn't matter the currency will be worthless too
Pull 401k and buy a tangible object
Buy Euros.
Gyros?
I'm more into al pastor, thankyouverrahmuch.
The tastier the better.
Don't scimp on the sauce.
This is just the push I needed to buy that Mercedes, thank you
/s
If tariffs continue for long enough then the value of all cars will skyrocket actually
She sounds like an excellent dancer
If the stock market and US dollar becomes worthless, it won't matter where you store your retirement money because it'll be worthless too.
This is stupid. Selling your investments at a low price for a currency that's quickly devaluing is two boneheaded moves in one.
Move as many of your investments as possible outside of the US.
The euro is devaluing? I missed that news.
Every currency devalues, that's what inflation is.
Donald Trump is president of the EU? I missed that news.
It's a global market, if the US goes belly up the world is going to feel it. Despite Trump putting his head in the sand, we are part of a global economy.
Yes, if the US entirely and completely ceased to function, it would have a greater economic effect than the current recession that has begun.
You can’t do that in the US for 401ks with the company you currently work for
Not bad advice
Unfortunately, the global economic system is tightly integrated. I think this will provide only a minor hedging effect.
As the rest of the world continues to move on without the US, the effect will grow.
The US consumers base is bigger than the next like six or seven countries combined, China included. If a country exports literally anything, you can bet the US is one of their larger trade partners, if not the largest. We just love buying shit here and had the money to do it. So I'm just saying, this shit is gonna hurt everybody. If you build something, odds are someone in America will buy it. The US imported $3.2T worth of goods in 2022, and if that shit dries up, all those places need to find someone else to sell that shit to.
I say this thinking this is all dumb, and if the issue was China, as it's purported to be, and which is something I can totally get on board with, why not just go to trade war with China? China is heavily reliant on American consumerism. The US sent 150b in goods to China, but bought 536b back. With no other of America's trade partners is the gulf so big. Mexico and Canada combined, the next largest two, were less.
I dunno, I'm just an idiot. I think things are much more complicated than folks on here and Reddit make them out to be. And that's excluding the plethora of other obvious negatives from this administration. I think we all need to buckle up, and it doesn't matter where you're from.
Its big becauae people consume. How many people gonna consume when its tonexpensive to live?