How do I protect my IRA accounts from stock brokerages because of this wall street crisis?
Is it safer to transfer them to savings bank or credit union, where money is FDIC insured?
Investing - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
That's safe but it's the least profitable play. I believe the market is near the bottom. It's always gloom and doom at the bottom. This is when you can make your money.
Answer 2 :
Were you happy with the way your IRA accounts were invested? Was the growth to your liking? Now, you hit a bump in the road and you want to jump off the truck? If you are not of retirement age just buy more for each increment you put into the IRAs. If you are about to retire don't panic. Just buy more for your contribution. There has to be faith in the system. Do you think credit unions will do better ? Forget savings banks unless you are happy with 1/2 of 1 % return.
Answer 3 :
You need to read & learn about investing........ you'll do great damage to your financial health if you move your funds without understanding how to manage them. Start with the basics.. "asset allocation". F.D.I.C. insurance doesn't cover you for the loss of buying power over decades. Stocks historically do.
Answer 4 :
your with the irish republician army????
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