SermonIndex Audio Sermons
Promoting Genuine Biblical Revival.
Looking for free sermon messages?
Sermon Podcast | Audio | Video

Discussion Forum : News and Current Events : My Personal Experience with Defined Pension Plans and 401K's ...

Print Thread (PDF)

PosterThread
Rahman
Member



Joined: 2004/3/24
Posts: 1374


 My Personal Experience with Defined Pension Plans and 401K's ...



Fellow saints ...

[color=CC0000]i'm posting this thread in light of current events ...[/color]

[b]The Dynamics of the 8/9/07 Stock Market Panic ...[/b]
http://www.sermonindex.net/modules/newbb/viewtopic.php?topic_id=18844&forum=48

[color=CC0000]... and the fact that i got pm saying ...

"Your messages are sobering...and I guess I need to take the time to read/listen to all the resources you've provided, but as a quick question for you...can you tell me how you would advise Christians as to what they should do with their investments that they are depending on using for their retirements???"[/color]


--- First, in the natural sense of the meaning, i'm no Financial Advisor, but in the super-natural i'm a firm believer that He is, and that if i acknowledge our Lord in ALL my ways, He'll order my steps, if i seek Him first ALL other things shall be added unto me, and that if i call to Him, He'll answer me, and tell me great and mighty things that i knowest not ... So while i don't feel led of our Lord to personally advise others of what to do with their $$$ in investments, i will share in liberty my testimony of how and where i believe He's brought me to regarding this - and why ... Some of which may be made clearer under this thread ...

[b]Has Our Lord Been Speaking to Anyone Else on SI[/b]
http://www.sermonindex.net/modules/newbb/viewtopic.php?viewmode=flat&order=0&topic_id=4859&forum=35&post_id=&refresh=Go


i'm 57 years old, and over the 41 years (so far) i've worked i supposedly have three Pension Funds (2 - Defined & 1 - 401K) that i alledgedly can depend on for my well being in Retirement ... To that i say, "It's a good thing that all my hope and trust for my future is in the bank of Heaven under the management of our Lord and Savior Jesus Christ" ... If not i'd be worried ...

My first Defined Pension Plan is with General Electric Co. (15 years of service) in which i have no say so over at all as to how that money is invested in the Stock Market ... Needless to say, as to what i believe our Lord is showing me regarding what's about to occur in the Stock Market due to the wickedness that has transpired within the U.S. economy, via these dangerous derivative packages that are laced throughout ALL Pension Funds, unless He works some type of specific miracle in this area on my behalf, i expect not to see (in future) much - if any - of that $$$ at all ...

My second Defined Pension Plan (19 years of service) is with my present job, and due to one of the millionaire owners retirement about six years ago and his taking his retirement out in lump sum, in unison with the volitility of the Stock Market (particularly after 9/11) and our being sold to a British Co. who institude a 401K, that Pension Fund was frozen due to the fact that it could'nt be paid out because it was underfunded ... Subsequently the $80K in that (supposedly mine) has been turned over to the U.S. Pension Fund and is in determination by the fund as to whether they will pay us cents on the dollar at retirement, or just pay us cents on the dollar within this year so they'll not have to be bothered with it (as this government fund is in itself underfunded and strained by other more massive Pension failures as with EnRon and WorldCom) ... Personally i'd rather the government pay me cents on the dollar now so that i could pay whatever taxes and penalties were due, and use the rest of it to purchase more gold bullion in my offshore GoldMoney account ... But again unless He works some type of specific miracle in this area on my behalf, due to my belief that we'll not clear this year without major economic upheaval in the Stock Market, i expect not to see any of that $$$ at all - period! ...

Bottom line is ALL old Defined Pension Plans are out of our hands, and at the mercy of those whom the holders entrust them to as to their investment ... One of the major reasons for derivative packages being as successful as they were is that they were sold to old Defined Pension Plan executors, because we the common working man are out of the loop in questioning anything about them ...

Now i have a 401K (two in 6 years of service) ... The thing about them is we have some say-so about how they're invested ... In mine, and generally in all, there are 4 tiers to choose from of pre-set packages, with "aggressive" being the most dangerous in terms of risk (riddled with derivatives and volitile stocks, bonds, etc), and "conservative" being the least in risk because the bulk of your $$$ is invested in low yield products like US Treasuries, etc ... For the past 5 years i did moderately well because i chose "moderate" as to investment, my charted increase has been one long upwardly moving graph line, while some of my younger co-workers in "aggressive" looks like a wild roller-coaster ride and their increase about the same as mine (meaning they took more chances to get to where this old tortoise got to at the slower plod) ... i've tried to encourage them to go "conservative" for 2007/2008, but they just can't see our Fed allowing a Market crash ...

The thing about 401K's is that our government makes it very painful (taxes and penalty) to cash them out, especially when one has amassed a good amount of money in them, and so many feel trapped to stay in ... Due to another buy out of my present employ my old 401K was canceled out last year, and i had to turn-over that $$$ into a newer one ... At that point i did some hard praying about some investment vehicle i believe our Lord had led me to in regards diversifying in some $$$ protection outside the U.S., so i eventually withheld 15K from the turn-over, 5K to take care of the taxes and penalty, and with 10K opened up a GoldMoney account to purchase actual precious metal (gold bullion) ... [color=FF0000]The rest is in my now 401K, at the most conservative level, because at the beginning of this year (and again just recently) i heard on Financial Sense Newshour that at the occurence of a Stock Market crash all 401K's invested on any higher level will lose 70% to 100% of their total value, while the most conservative will lose 45% to 50% ... To me "half" left, is better than "none" left at all ...[/color] i still have some savings in dollars in my U.S. bank, but all additional savings above this, as well as with the royalties from THE CALLED, i'm buying more gold bullion at every opportunity toward His future provision of my family and the saints ... And i'm now looking into purchasing at least one (perhaps two) $100 face value bag(s) of pre-1964 actual silver dimes (before the price per oz. goes any higher) to use in case of complete dollar failure and/or panic runs on our banks (until such a time as things settle down) ... Lastly i'm in the process of purchasing two oil stocks (Zion and Ness) i believe led of our Lord to invest in, also toward His future provision of my family and the saints in time of need ...

Now i know most folk would never cash out any of their 401K's to buy actual gold to have with them at home, let alone to store abroad, [b][color=FF0000]so let me "generically" urge you then that if your 401K investment level is not fixed at the most conservative level it can be presently, then do so right now - TODAY!!! ...[/color][/b] You can always just as easily change it back at a future time when the Stock Market may not be as volitile as it is now ...

Blessings in Jesus Christ our Lord and Provider ... :-D ---

 2007/8/24 13:33Profile





©2002-2019 SermonIndex.net
Promoting Genuine Biblical Revival.
Privacy Policy