Checking out at Costco today, I was making idle conversation with the cashier. Somehow we started talking about 401k/retirement and she said she cashed out half her 401k and parked it in gold 🫨 I mean come on current events are a bit shaky but there's no way that'll pay off over the long run. What are y'alls thoughts? Is she ahead of the curve or crazy? lol

likehelpful
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There’s a reason she’s working as a cashier

funnylike

Hahahaha its the bitter truth

likesmart

How much stuff did you buy to strike up that detailed of a conversation?

funnyhelpful

Maybe she thought I was rich because of all the diapers I was buying

funny

I think they’re crazy and I’ve been working with retail customers in the financial markets for 20 years.

Unfortunately, gold is marketed well as a fear commodity and unfortunately has become tied to politics as well as conspiracy theorists.

If you must have it, no more than 5% of your investible assets should be in precious metals.

Gold IRA firms are some of the slimiest around, but I suspect the cashier took the cash out of their 401k and bought the physical gold Costco sells.

like

Great thoughts, I agree that I think that is the case as well. All the employees probably saw how much gold they're selling and got hyped.

like

That’s definitely a bold move. 😅 I get the instinct that when headlines feel shaky, gold sounds safe and tangible. But cashing out half a 401k to do it feels extreme, especially given the tax hit and long-term growth you give up. Historically, diversified portfolios win over time. Maybe not crazy, but definitely a high-conviction bet.

like

APM1 hahahah that gave me a good chuckle. Gas definitely seems like the winning play rn 😂

I mean the sad part is you can flip that to an Ira and use a gold etf.

Maybe she did that and just explained it poorly. Who knows

helpful

To each their own…

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